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>What purpose does cryptocurrency serve beyond enriching people who are already invested. Limited scope and obviously doesn't justify the money that is swirlin
by SimbaOnSteroids 8y ago
>What purpose does cryptocurrency serve beyond enriching people who are already invested.
Limited scope and obviously doesn't justify the money that is swirling in crypto right now.
However, if we want digital things to be non-fungible we're probably going to need something like a block chain. Cryptokitties(as beanie-baby-esque as they are) and the implementation of the ERC-271 token come to mind.
Again I realize cryptokittes are not really a great example other than proof of concept, but imagine with me for a second a fine art market where all the art is digital, this requires a decentralized non-fungible token, maybe digital house or car keys would be another thing where we want to limit the number of people with access to the thing, again if we don't want to trust someone like say equifax, with control over that we're going to want a decentralized non-fungible token.
I realize these aren't necessarily the best examples of non-fungible assets we might want one day. However it seems absurd to me that moving forward society won't at some point demand some digital asset that is non-fungible. If that assumption holds true then some form of cypto-currency is going to be necessary to provide such an asset.