Blockchain is fuelling a new ideas economy says blockchain author, commentator and thought leader, Michael Casey.
Known for his commentary on the Netflix documentary Banking on Bitcoin, Casey said cryptoassets are like nothing that’s been before and the technology is creating a new business paradigm.
“There’s this discussion of a new asset class as if it were another commodity, another form of gold or a bond or a stock,” said Casey.
Blockchain technology is changing the face of business and for the first time in history we have an emerging ideas economy.
“What you’re buying when you’re buying crypto is an idea, you’re buying a very different idea about the way the world should be shaped than what it is now,” said Casey.
Traditional investors continue to compare digital currencies to paper money, however according to Casey, Bitcoin is more like gold.
“I see Bitcoin itself becoming a digital gold – a reserve currency into which other tokens of value are ultimately stored or are converted into,” said Casey.
The cryptoasset market has experienced great volatility this year since its January high while the delayed decision by the SEC on any crypto-related ETF applications continues to weigh.
This story first appeared on Coincast TV.