this year fraction The 30th anniversary of the birth of the first web page on the World Wide Web, which means that a person must be almost half a century old to clearly remember the progression of quilting, beginning and ending. ‘stop errors and trial and error from what ultimately gives us. This is life in the 21st century now. The decisive basis for
We take the internet in 2021 for granted, but it took us decades to get there. Over the years, the barriers to adoption have gradually disappeared, and there are clear signs that this new technology will fundamentally change the way the world lives and works.
Now the Bitcoin surge (Bitcoin), This Coinbase’s successful IPO with Appointment of Professor MIT Blockchain Gary Gensler, who heads the U.S. Securities and Exchange Commission, has provided clear signs that another technology will change on a similar scale: cryptocurrency.
Do these recent developments mean that encryption is approaching its “Netscape moment”?
In the early 1990s, the Internet consisted of connecting to three major services through telephone modems – AOL, CompuServe, and Prodigy – which were what we call “the global wait,” which illustrates the headaches caused by charging. these basic pages. For those of us who are old enough, those early transitions to the mainstream Internet, we all clearly remember when everything changed.
In August 1995, Netscape launched its main product Navigator, which was the first To allow Anyone can surf the Internet without having to pay for the “World Wide Wait’s” service. It was at this point that Internet adoption became mainstream and triggered a Network explosion In April 2000, a model for investors and consumers to think about the Internet and the World Wide Web was created.
Quantified chronology: are we still there?
When you are absorbed in the uncertainty of the present, it is difficult to see the certainty of tomorrow, or at least the narrative of tomorrow as described by today. Maybe all the technology is not finished, which makes it as mysterious and alluring as the world of crypto.
However, it’s hard not to see the similarities between the current state of encryption adoption and the Internet that existed in 1995. Although many news cycles focus on the boom and bust in prices, in terms of real financial and technological uses, encryption still exists. and remains a playground for early adopters and geeks. Many institutions and professional investors are interested in playing with it, but most of the major financial institutions have yet to take it seriously.
I think 2021 will be the year of all these changes. The global COVID-19 pandemic has caused a lot of money printing around the world. Standing With a market value of around US $ 2 trillion, Bitcoin is in the news every day, which can be considered more regular and longer than the boom period from 2017 to 2018.
Along with this new round of hype comes the gradual increase in general awareness of encryption which has been increasing since 2017 to 2018. Professional investors and institutions are more inclined to dip their toes in the water of cryptocurrency, even if that only means developing some sort of bit. Funds traded in foreign currencies.
History will not repeat itself, only rhyme
Encryption seems to be like this should Inevitable- In other words, the power of quantity,The Mathematical School of Thales and Satoshi Nakamoto should also keep in mind the old saying of the empiricist Immanuel Kant: “The twisted wood of man was never made”. We cannot overlay the Internet timeline on encryption. Motto, then say, “Aha! This is when it happens. Some adoption and development timescales may continue to accelerate, while others stagnate.
External events can also interfere, such as a pandemic. Initially seen as an event that could discourage the crypto market and innovation, due to the initial financial panic and the need for liquidation, the flagship price of Bitcoin has increased tenfold in the first year of the pandemic. . The government is exposing itself to currency risk from debt-related spending, and people are digging deeper into the online world than ever before, insisting on defining the cryptocurrency of so many lives and discussions online.
One thing is certain is that encryption requires the advocacy and cooperation of the US government to take advantage of the “Netscape moment”, especially in the Western world. The Netscape era will occur when the US government, in particular the US Securities and Exchange Commission (SEC), issues clear regulations on fundraising, custody, “know your client” guidelines, taxation, investments and transfer rules. Better yet, the SEC announced that cryptocurrency is not security, but a new asset class with its own set of rules.
Gensler, who was recently appointed to head the SEC, has made it clear that he sees the potential and value of the new digital currency. Recently, he announced that he would conduct clear regulatory negotiations on the space that could open the floodgates for billions of dollars in institutional capital. It will be a huge development that can stabilize popular and fluctuating Bitcoin prices on the first day of an IPO.
The United States has become a leader in the internet movement because, based on our wisdom, we are enabling e-commerce businesses to grow without the burden of sales tax in state and city districts. This allowed the industry to become the monster it is today. Although Al Gore may regret it forever, as he once claimed that the US government promotes national networks and technology efforts through the internet. High Performance Computing Act 1991The point is, the US government’s pro-Internet policy has indeed helped the Internet grow so rapidly. Marc Andreesen created “Netscape Moment” and at least some help inventing the Internet as we know it, and he said the same thing.
Today, the US government stands at a similar crossroads. Free market economies such as Switzerland, Singapore, Malta, and Panama have seen the dawn, and we all hope major countries are ready to see the wisdom that allows the cryptocurrency industry to thrive. The investor-friendly US rules will allow the US to maintain its leadership position in innovation and technology (note Gensler).
If the United States is to repeat the last 25 years of history, a section of the supreme history of the United States as a global leader in technological innovation, it must repeat its pro-Internet political approach and open up the way for new developments. Encryption technology that will break through similarly to Netscape.
This article does not contain any investment advice or recommendations. Every investment and trading action comes with risk, and readers should research for themselves when making a decision.
The views, thoughts and opinions expressed herein are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Charles H Silver He is the CEO of Permission.io, a technology provider of authorization-based advertising solutions. Charles previously founded RealAge.com, a company that uses big data to connect individuals with advertisers on a permissive basis. Charles is also the co-founder of Reality Shares, an SEC-registered investment advisor with five ETFs listed on the stock exchange, and Blockforce Capital, a multi-strategy cryptocurrency hedge fund. Charles graduated from the University of Michigan and was a member of the United States Congress.