[BeyondCC Daily Update] - 9 March 2020
As of writing, the price of the world's largest cryptocurrency by market capitalization is changing hands at $7,837, the lowest in the past 30 days and a 10 percent decline on a 24-hour basis, according to CoinDesk's Bitcoin Price Index.The Tokenization Delusion
Let me tell you about a lovely dream. In some utopian future, all assets will be represented as tokens on blockchains. Everyone will issue their own tokens, backed by their own assets. And because those tokens are backed by assets, and their ownership is transparently recorded on an immutable decentralized blockchain, everyone will accept everyone else’s token as money. There will be no need for trusted central institutions to issue money. In the new world of tokens and blockchains, private asset-backed money will be ubiquitous, and everyone will be their own bank.