Saying “it’s difficult to overstate how transformative” blockchain, digital assets and DApps can be, a pair of analysts argue investors can no longer afford turn their backs.
While acknowledging Bitcoin’s primacy, Shah and Moss said:
“The digital asset ecosystem is so much more: tokens that act like operating systems, decentralized applications (DApps) without middlemen, stablecoins pegged to fiat currencies, central bank digital currencies (CBDCs) to replace national currencies, and non-fungible tokens (NFTs) enabling connections between creators and fans.”
As a result, they said:
“It's difficult to overstate how transformative blockchain technology, digital assets and the thousands of decentralized apps that have yet to be created could potentially be.”
Aside from DApps used to trade digital assets, blockchain-based cryptocurrencies are creating a “new generation of companies” that will cut across industries including finance, supply chain, gaming and social media, the pair said.
The Token Economy
The fastest-growing cryptocurrencies, they said, are those that run the DApp-platform blockchains, such as Ethereum and its competitors. Comparing them to Apple’s iPhone and its App Store, Shah and Moss said their view is that digital assets offer more opportunities than skeptics believe. They added:
“In the near future, you may use blockchain technology to unlock your phone; buy a stock, house or fraction of a Ferrari; receive a dividend; borrow, loan or save money; or even pay for gas or pizza.”
“It's difficult to overstate how transformative blockchain technology, digital assets and the thousands of decentralized apps that have yet to be created could potentially be. We expect rapid changes to the current market structure.”