Crypto enthusiasts are betting the house on creative destruction

Quick Summary

After all, the crypto world has already endured some big busts, yet — like the proverbial hydra — it has always responded to decapitation by growing new heads.

Earlier this year, an Irish company that organises an annual tech conference in Toronto called Collision decided to celebrate cryptocurrency’s “day in the sun”, as the blurb said, by inviting its luminaries to speak.Oops.

But the key point is this: just as no one in 2001 expected that Amazon would be a global giant two decades later, or that Silicon Valley’s power would keep expanding, so the crypto world in 2042 could be radically different from what we see now.

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Article Details

Author / Journalist: Gillian Tett

Category: MarketsFinanceInvesting

Topics: Capital Future Digital Usdc Regulators Private Financial Crypto Circle

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 15:20:03

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 6 minutes read

Article Length: 982 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 6116

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