Inventor of the Internet, Tim Berners Lee, recently mentioned in a statement about cryptocurrency being majorly speculative.
He mentioned how cryptocurrencies might not hold any real degree of value similar to the speculative stocks that popped up during the dot com bubble of the late 90s.
This statement by Tim Berners Lee comes amidst the cryptocurrency markets going through a recovery phase after a tumultuous 2022. What would be the impact of this statement? How is this going to affect the crypto markets?
Let’s find out a few more things about how the crypto ecosystem is able to come up with more crypto projects.
Is Crypto “Really Dangerous”?
Inventor of the World Wide Web, Tim Berners Lee, has shown their disinterest in cryptocurrencies by mentioning that digital assets are nothing more than a form of gambling.
Featuring in a podcast, Tim Berners Lee said, “It’s only speculative,” He further continued saying, “Obviously, that’s really dangerous. [It’s] if you want to have a kick out of gambling, basically.”
This statement by Lee comes a week after Federal Reserve Board Governor Christopher Waller cited his opinion, saying the crypto assets are nothing more than speculative assets and compared them with a “baseball card”.
Not All Bad About Cryptocurrencies Though
Further continuing on how cryptocurrencies might be able to shape themselves up, Tim Berners Lee mentioned a very important utility of cryptocurrencies that can make them stand out from remittances.
He said that in a case where the digital currencies were immediately converted back into fiat currency upon receipt.
Similarly, Federal Reserve Board Governor Christopher Waller also said that cryptocurrencies do have a broader application, especially technologies like smart contracts and tokenization.
Waller’s concerns cautioned banks about approaching cryptocurrencies with caution and in the same “safe and sound” manner that they usually deploy. This
What was the Dot-Com Bubble?
The dot com bubble came into the picture in the late 1990s. It was a scenario in which there was a rapid rise in the U.S. technology equity stocks valuations due to investments made in internet-based companies.
Things started to look down when the markets crashed in 2001 & 2002 as the equity markets entered a bearish phase. After this, most of the technology stocks went bankrupt which led to a drop in the enthusiasm around the tech stocks markets.
Since the dot-com bubble was a result of speculative or fad-based investing, the bubble eventually burst. This is the situation that Tim Berners Lee has been equating the current cryptocurrency situation with.
Alternative Crypto Assets Investors Can Look Upto
While there are a lot of crypto projects ongoing at the moment, there are newer and upcoming projects that show a promising future and explosive returns to their investors.
Fight Out is a move-to-earn (M2E) platform that will enable users to learn from professional athletes, trainers, and more. It is going to capitalize on the fitness aspect and a fit lifestyle that users are looking forward to.
Users will earn rewards and badges for completing their tasks and fitness challenges in the metaverse.
It will further bring unrivaled content, the experience of the metaverse, and real-life events. The app aims to have its own tokenized economy, where users will earn tokens and engage with ambassador content. On account creation, the users will be able to create their own NFT avatar.
The project is currently at the Presale Stage and has raised around $4.5 million, which ends on 31st March 2023.
Furthermore, the project has a long list of USPs, such as unique content offerings, rewards for completing classes, and challenges. Users can also interact and compete against other users giving a sense of community.
RobotEra is a promising crypto project that aims to take the world of metaverse and cryptocurrencies together. The project is building a sandbox-like planet-rebuilding metaverse.
The users in RobotEra will become a robot who will acquire resources from the planet, manage the lands on the planet, create robot companions, and participate in creating the world. In the RobotEra ecosystem, there are tons of possibilities for users to explore.
Some of these features include:
- Participating in the creation of the world by creating buildings and NFTs.
- Creating lands and robots using the editor
- Building a new metaverse with other NFT communities
- Participating in concerts and building an interactive ecosystem
- Submitting original pieces of work
TARO is the utility token at the center of the RobotEra ecosystem as the basis of interactions and transactions. It is an ERC-20 utility token built on the Ethereum blockchain and will be used across the ecosystem by gamers, publishers, and more.
It is an exciting project that has a dynamic roadmap lined up ahead, making it even more exciting for investors to look into.
An upcoming crypto project, C+Charge, focuses on providing access to a wider audience in the carbon credits industry.
The project is aiming at transforming the carbon credits industry by providing access to the carbon credits industry, not just to the big corporations but to individuals as well. Through their initiative, C+Charge will bring carbon credits to the masses.
It is a part of the entire electric vehicle (EV) charging ecosystem that aims at democratizing the carbon credits industry that allows electric vehicle owners to earn carbon credits.
C+Charge aims to streamline and improve the user experience in EV charging by providing a seamless and transparent payment interface. It has a very real-life and solid use case that can have an impact on and optimize the functionalities of electric vehicles.
The project will have a real-world presence as well, as they will be deploying solar-powered electric vehicle charging stations, which aligns with their goals as well.
At the center of C+Charge is the $CCHG token, which has a supply of 1 billion tokens and will be having eight stages to their Presales.
Apart from that, C+Charge has an NFT element that they want to utilize. The carbon credits will be converted into NFTs which they have earned through charging and by holding $CCHG tokens.
The project has quite a robust roadmap ahead which focuses on a lot of promotional activities for the crypto project.
In the past as well, there have been instances where business magnates have publicly let the world know about their hard anti-crypto stance.
While their concerns might seem right to many, the idea of blockchain and crypto is way beyond ‘gambling’ and ‘speculation’. The upcoming projects like Fight Out and Robot Era are focusing more on the utility of cryptocurrencies and aligning the best real-life use cases for the users,
If the crypto industry is able to adhere to utility and provide value to its users in the coming days, it consists of the ability to transform the financial and other related industries.
Fight Out (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses