I encounter this white paper, entitled 'NVO Decentralized Exchange'.
N V O Decentralized Exchange, closing in 10 days and 4 hours and a few minutes.
Here is the first section of the abstract.
"The key function of a decentralized cryptocurrencies exchange is crypto currencies and assets are not held
by any third party. They are directly transferred from one owner to another in a P2P model. N V O
decentralized exchange is operated through two components. The first one is a multi-cryptocurrencies open
source wallet. All keys are created locally on user’s device and never sent to any server. (...)"
So, we first had the groundbreaking innovation of blockchain, which made bitcoin possible.
Bitcoin being the first decentralized currency in a series of now over 800 different ones.
As we now move to a decentralized exchange, N V O here being one attempt, there will most likely be other ones in a near future.
I wonder if eventually there will be thousands of cryptocurrencies and hundreds of decentralized exchanges and then, we can move toward decentralized brokers.
But wait... I thought that blockchain and bitcoin and this entire movement existed in order to create a new way of doings things.
It seems that as the major cryptocurrenciess gain interest among the general public, and traction among investors, that we are witnessing the same conclusions in the end.
Is it not that cryptocurrencies are the new hot investment? You know someone who has made a fortune and now, you wish to make a fortune as well.
Perhaps the majority of people now involved in online transactions of cryptocurrencies share the same basic human drive.
And perhaps it has nothing to do with reinventing any society or remodeling the way we think, express our selves, make choices and create a world.
Now that the infrastructure exists, which allows for new technological capabilities, we can build new structures which did not exist before.
But where do most people find the inspiration in order to build new forms of doing?
In all that we see around us.
There is one certain reality.
Three years from now, all that we have ever taken for granted, in regard to brokerage firms, transaction costs, ownership, value of items and value of information, etc.
will all have been toyed with, each concept examined in thousands of new ways, and there will be hundreds of attempts at creating all kinds of things, just to see how it turns out.
About 18 years ago it became the new normal to say that now all stores would be online and brick and mortar was just about dead.
I look around and I see lots of brick and mortar businesses and restaurants and gas pumps and hospitals.
Now, the new normal is everything decentralized and we are lead to believe that all that we have known is about to roll over.
I am not so certain.
There will be an important period where there is a huge impulse to reassess each and every item important in our financial and economic life.
A period of massive trials and errors. And yes, outstanding fortunes will be created from all this. As well as lots of money lost.
Until we arrive at the new normal, a new normal which integrates new and radical notions with many of the things which have been, for many generations,
a part of our ongoing societal evolution.
Regional Director (France)