Down the Crypto Rabbit Hole - An Intro to Free Lunch
Needless to say, a lot happened in the year and a half since COVID 19. We saw the world adapt to new technologies at a pace like never before including towards FinTech, Artificial Intelligence, and Electric Vehicles (just to name a few). But the one innovation which has caught most of my attention this year and will have the most significant implications for all of us is none other than Cryptocurrency and its underlying blockchain technology.
If you are still in the camp who believes Crypto is nothing more than a Ponzi scheme or a fad, that’s completely normal. Not too long ago, I too dismissed Crypto as just a “get rich quick” scheme, especially seeing the price of Bitcoin collapsed in 2017. However, with time, not only did we see Bitcoin recover to hit an all-time high, but we are now starting to see Bitcoin and other cryptocurrencies gain mainstream adoption among the public, institutional investors, corporations, and governments.
You might think the potential of Crypto is about having a a digital currency owned by no one (no governments or state) where we can move money around more efficiently. Or that it’s about pumping a coin 100x or 10,000x to get rich even though it shouldn’t be worth anything. If this is your understanding of Crypto, then you are missing the bigger picture. In short, crypto is only a means to achieve a bigger idea - the idea of Web 3.0, which is about having a more open and decentralized web controlled by individuals involved. Web 3.0 is the solution to a lot of issues we face with Web 2.0 today, and crypto/ blockchain is what will enable this transition. (If you are interested in learning more about the evolution of Web 1.0 to Web 3.0 and why it’s necessary, you can read this article here)
Back in the 90s, everyone knew there was something fascinating about the Internet. This is what led to the Dot-Com Bubble in early 2000s as everyone tried to make something useful out of technology which hasn’t been fully developed or figured out. Most people during that time probably didn’t have a clue how their lives would be impacted by the Internet. It wasn’t until 20 years later, that we now learned all of our lives involve the Internet.
“History doesn't repeat itself but it often rhymes.” We are at the exact same moment with Crypto today. Everyone who has fallen down the crypto rabbit hole could see the possibilities, but there are so many use cases not yet developed or even thought about yet. What will the true disruption and impact be a decade from now? No one really knows and that’s the fun part.
Through Free Lunch, my plan is to breakdown the Crypto space by highlighting some of the coolest projects and investments opportunities right now including NFTs, DeFi protocols, altcoins, etc. As always, none of this is financial advice. Crypto today is full of risky projects tackling really ambitious ideas. Some might make it, but most won’t. My goal is simply to introduce you to interesting innovations in this space so that hopefully 10 years from now, you won’t be one of those people at a dinner gathering going, “Darn, I wish I got into Crypto early in 2021”.