Crypto Meltdown? Scandals fail to shake the faith of crypto executives.

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Calling this quixotic company doesn’t capture it. Gaming is a crowded, mature market, led by blue chip companies like Sony and Microsoft, and dominated by titans like PUBG: Battlegrounds, which has been downloaded over a billion times.

And Web3War? To date, approximately 5,500 people have registered. Mr. Ryan is fearless.

I think if we get to 10,000, watch that space, he said. It proves that we have a product that people want.

Mr. Ryan is a born optimist, he acknowledges, and that is true for most crypto devotees. This involves not only predicting a great future for blockchain, but ignoring its failures.

In November, the Australian Securities Exchange canceled plans for a blockchain-based system for trade clearing, resulting in a $168 million fee. In November, Danish shipping company Maersk unplugged its blockchain platform. In a statement, he said the need for full global industry collaboration has not been met.

These failures come as no surprise to Lee Reiners, director of policy at the Duke Financial Economics Center. Blockchain is basically database software, he notes, and isn’t very popular. It would never have reached its devoted following, or attracted billions of dollars in venture capital funding, without its connection to crypto. And that, he says, is a tragedy that no one has fully considered.

Imagine if all the money and talent awash in crypto in the last ten years had gone into fighting climate change or researching cancer, Prof Reiners said. It’s a huge misuse of society’s resources, and all because people wanted to make a quick buck. Despite what they say, what attracted most people was the perceived get-rich-quick opportunity.

The talent that Professor Reiners says has been misattributed can only be different. The meeting in Ruar ended late, with a small group discussing how the pandemic has proven governments can easily control their populations and how banks have participated. One participant mentioned that a customer’s account was closed for refusing to wear a mask while visiting a bank. If all goes as planned, that client will one day have other options.

From where I stand, there is an opportunity to tell the world that there is a positive, paradigm-shifting future that blockchain enables, said Mr. Hernandez of Gitcoin. But that’s not the story right now.

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