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Is crypto approaching its ‘Netscape moment’?



this year Mark The 30th anniversary of the first web page on the World Wide Web, meaning that one must be nearly half a century old to clearly remember the progress of the patchwork, the false start and stop, and the trial and error that eventually led us to He gave what is now the defining foundation of 21st century life.

We take the Internet lightly in 2021, but it took us decades to reach this milestone. Through the years, adoption barriers were overcome, and there were clear indications that this new technology would fundamentally change the way the world lived and worked.

Now, increasing bitcoin (B T c), Were Coinbase’s Blockbuster Initial Public Offering And this MIT Blockchain Professor Appointed Gary Gensler, who is heading the United States Securities and Exchange Commission, is making clear indications that another technology will be transformative on a similar scale: cryptocurrency.

Do these recent developments mean that crypto is approaching its “Netscape moment”?

In the early 90s, the Internet was about connecting to three major services – AOL, CompuServe and Prodigy via a phone modem – all called “World Wide Weight”, which showed headaches that caused loading. happened. Those original pages. For those of us who are good enough to participate in these early days of transition, to a consumer internet, we remember well the moment when everything had changed.

It was in August 1995, when Netscape went public with its main product Navigator, the first browser Permission For anyone to surf the net without having to pay for “World Wide Weight” services. This was the moment when the adoption of the Internet became mainstream, and it created a frenzy that lasted until then. Dot-com burst In April 2000, the establishment of an investor and consumer template for thinking about the Internet and the World Wide Web.

related: Blockchain is evolving like the Internet: Who will be the crypto hotmail?

TimeScale of Crypto: Are We There Yet?

It is difficult to see the certainty of tomorrow, or at least the story of the coming tomorrow as described today, when you are busy with the uncertainty of the present. Perhaps the technique as a whole has no endgame, making it mysterious and tantric like the world of crypto.

However, it is difficult not to see similarities between the current state of crypto adoption and the Internet as it existed in 1995. In terms of actual financial and technological usage, crypto still remains the playground of early adopters and geeks, despite several news cycles plagued by pricing booms and busts. Many institutions and professional investors are interested in playing with it, but the vast majority of major institutional finance has not yet engaged in any serious way with it.

related: Institutional Investors Won’t Take Bitcoin Mainstream—You Will

I believe that 2021 will be the year when all this will change. The global COVID-19 epidemic has led to large-scale fiat money-printing everywhere in the world. cryptocurrency market Stand At around $ 2 trillion market capitalization, and bitcoin is in the daily news, arguably with more regularity and in the longer term than it enjoyed during the 2017-2018 boom.

This new promotional cycle comes with a gradual increase of general crypto awareness that is on the rise from 2017-2018, and professional investors and institutions are even more eager to dip their toes into the crypto waters, even if it only means One is to develop a bitcoin exchange-traded fund.

History does not repeat, just rhyme

Crypto looks like needed Be indispensable – id est, wires in numbers. Thales and Satoshi Nakamoto’s mathematical school should also take into account that old phrase of the empiricist Immanuel Kant: “From the crooked wood of humanity, no straightforward thing was ever made.” We can’t overlay the Internet’s timeline on crypto and say, “Ah! That’s when it will happen.” Acceleration may continue at some times of adoption and growth, while others lag behind.

External events can also interfere, such as epidemics. Initially thought of as an event that could curb crypto markets and innovation, the price of flagship bitcoin rose tenfold in the first year of the epidemic, due to the initial financial panic and need for liquidation. Governments put themselves at monetary risk with debt spending, and people dug deeper into the online world than before, following the cryptocurrency that defines so much online life and buzz.

related: How has the COVID-19 pandemic affected the crypto space? Expert answers

One thing is certain that for crypto to enjoy the “Netscape moment”, especially in the Western world, it would require support and cooperation from the US government. The Netscape moment will occur when the US government, especially the SEC, comes up with clear rules about fundraising, custodianship, “know your customer” guidelines, taxes, investment and transfer rules. Even better would be for the SEC to declare that crypto is not a security, but an entirely new asset class with its own set of rules.

related: America has already lost the 2020 crypto regulation race to Europe

Gensler, recently appointed to head the SEC, has clarified that he sees potential and value in new digital currencies. Recently, he announced that there would be negotiation of some explicit regulation for space that could open flood gates of billions of dollars in institutional capital. This would be a tremendous development that could stabilize pop and bitcoin prices fluctuations on the first day of initial public offerings.

related: Crypto-Friendly Faces Ready for Positions in Biden Administration

America became a leader in the Internet movement because, in our knowledge, we allowed e-commerce companies to grow in state and municipal jurisdictions without the burden of sales taxes. This allowed the development of the industry to take it to the largest level it is today. However Al Gore may forever regret the day he claimed credit for the US government’s efforts to facilitate national networks and technologies. High-Performance Computing Act of 1991, The fact that the pro-Internet policies of the US government helped the Internet grow rapidly. Mark Andreesen, who created that “Netscape moment” and can claim at least a partial stake in inventing the Internet, has said as much as we know.

Today, the US government finds itself at one such crossroads. Countries including Switzerland, Singapore, Malta, Panama and other free market-oriented economies have already seen the light, and it is our collective hope that the powers that be are willing to see wisdom in allowing the cryptocurrency industry to thrive. Investor-friendly regulations in the US will allow the US to maintain its leadership in innovation and technology (please note, Gensler).

If America wants to repeat the history of the past 25 years, a history that has seen America reign supreme as a global leader of technology innovation, it must repeat the ways of its early pro-internet policies, paving the way for new will be expansive. Crypto technology that will break just like Netscape.

This article does not include investment advice or recommendations. Every investment and business move involves risk, and readers should do their own research when making decisions.

The views, opinions and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointegraf.

Charles H. Silver Is the CEO of Permission.io, a technology provider of permission-based advertising solutions. Charles previously founded RealAge.com, a company that uses big data to connect individuals with advertisers on a permissible basis. Charles is also the co-founder of Reality Shares, an SEC-registered investment advisor with five publicly traded ETFs, and Blockforce Capital, a multi-strategy cryptocurrency hedge fund. Charles is a graduate of the University of Michigan and is a former staff member of the United States Congress.