Yes, Crypto Really Is Still Early, and Here’s Why.

There seems to be a ton of confusion around whether or not the state of this crypto industry can be considered “early” or if we’re in the final throes of a failed experiment. If we’re going to answer whether or not we’re still early, let’s define what early means.

To define “early,” we need a key performance indicator. The knee-jerk answer to this is usually the A-word, adoption. But is adoption really the best KPI for the crypto industry? Do we not have millions of people using and trading crypto assets all over the world? Do we not have an entire ecosystem of apps? Do we not have the largest companies and richest individuals talking about and investing in crypto?

I would call that mass adoption. Yet, something is still missing.

The missing component for true success is the same with every nascent technology. DEPENDENCE.

You see, the world hasn’t ditched the United States Dollar or any other currency of a developed nation for that matter. There has not been a “cut-over,” so to speak, to this new world we’re all currently trying to make happen.

The truth is, if every crypto project disappeared tomorrow, yes, there would be a ton of financial loss, but the world would continue on with little disruption.

Compare that to the internet disappearing. At this point, businesses are hopelessly dependent on the internet. To the point that nearly all critical systems have completely abandoned “the old way of doing things.” We would likely have mass starvation, violence, chaos, and basically our way of life as we know it would be completely obliterated.

So let’s just take a deep breath.

Let’s not lose hope or enthusiasm.

We are FAR from worldwide dependence and thank goodness for that because there are still many issues to resolve. We are getting there, though, and it will happen eventually.

We are still early. :)