The Unbearable Uselessness of Crypto
- GPPN Secretariate
- Jan 31, 2023
- 1 min read
Following the collapse of FTX, in his latest opinion piece for Project Syndicate, Professor Andrés Velasco, Dean of the School of Public Policy at the London School of Economics and Political Science, looks at the reality of the crypto industry.
He writes: "What is truly unforgivable is that in the 14 years since Bitcoin appeared, the crypto industry has failed to produce anything of value. What factories have been built with crypto? Which new goods and services are available? What government has raised money through crypto? Certainly not El Salvador, which adopted Bitcoin as legal tender and is now on the verge of debt default."
Read the full article here.
Article was originally published on Project Syndicate.
This is a thought-provoking post, and I appreciate you tackling such a controversial topic head-on. It's important to have balanced critiques that look past the hype and truly assess the utility of new technologies. While I agree that many crypto projects lack real-world application, the underlying blockchain technology itself has practical uses in different industries.
Speaking of practical applications and making decisions about where to invest resources, I’ve found that focusing on tangibles is often the best route. Protecting valuable physical assets, like those on a worksite, is an immediate and necessary investment that provides clear, undeniable value. It's a far more certain way to secure your financial future than speculating on volatile digital assets.
For those looking for a tangible…
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