As more possibilities of blockchain technology are widely accepted, many tokens and projects that currently lack practical value will disappear.
Author: Jeff Dorman
Translated by: Deep Tide TechFlow
The market has gone into a frenzy over the $TRUMP token, yet it has completely missed the point. Here’s why this is a huge long-term positive for the entire industry (and it has nothing to do with the $TRUMP token itself).
First, for more than the past three years, U.S. token issuers and investors have been hesitant due to regulatory concerns. Now, with the president himself being both the issuer and investor of a token, those concerns have naturally dissipated.
Even if the president issues a meme token, it doesn’t mean the whole world will only focus on meme tokens. While Trump has proven the viability of this technology, he has merely showcased one application of it. Potential token issuers and investors can realize many more possibilities beyond this limited scenario.
@jdorman81: FWIW (for what it's worth) — the following two points can be true at the same time:
1) Many businesses or projects launched through blockchain technology belong to currently (or future) useful fields, such as gaming, finance, and AI.
2) Meme tokens, while interesting, serve entirely different purposes.
Not everything built on similar technology needs to be categorized together.
The internet boom initially stemmed from “.com companies” — companies that existed solely because of the internet. However, most ultimately failed. The real growth of the internet occurred when non-internet-native companies began to leverage the internet. Today, every company can be seen as a “.com company.” Walmart, Domino's Pizza, JPMorgan Chase, etc. — are now all considered “.com companies.”
The TRUMP token sends a signal to all companies, municipal agencies, universities, and personal brands: cryptocurrency can now serve as a tool for capital formation and user engagement.
New York City will have its own token
Harvard University will have its own token
Netflix will have its own token
We are now officially bidding farewell to the blockchain’s “.crypto phase.” Currently, all cryptocurrency use cases come from crypto-native companies, but from now on, the world will creatively use tokens.
As more possibilities of blockchain technology are widely accepted, many tokens and projects that currently lack practical value will disappear, but the largest and best projects will thrive with the influx of millions of new investors, issuers, and users.
If you are an investment banker, now is the time to design token solutions for your clients.
The market price performance on Friday night may make it seem like cryptocurrency has become a joke, with the only winners being those issuing joke tokens on the blockchain (like $SOL). But this view is too shortsighted; it is more due to the lack of market liquidity over the weekend than anything else.
As for those who think this is the “top of the cycle,” their thinking is simply absurd. Post-Traumatic Stress Disorder (PTSD) does exist, and many of you, after the blows of 2022, can hardly imagine what could happen in a crypto-friendly environment.
In summary, while I personally have little interest in meme tokens or the TRUMP token, I am very focused on the future applications of blockchain, and the President of the United States has just paved the way for all these future possibilities.
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