I've been thinking some more about the development of cryptocurrencies. Now, having that said I see two things that I believe will impact the continued development (the first wave being technological development and variations of technology to ensure its feasibility and functionality) of this technology: 1) The role of "bridgers", and 2) the creation of ecosystems.

I define 'bridgers' are functions, actors, entities and/or activities that aim to create a 'bridge' between the old ecosystem and the new technology that is otherwise disruptive of old ecosystems. The bridgers can be for instance technological (payment processors, exchanges etc), institutional (tax laws including cryptos, or regulations around how they can or cannot function), social (memes, user diffusion etc.). The bridgers play a crucial role in the short term viability of a crypto (by this I do not mean launch day+2 ... but rather refer to them being able to used in trade).

'Ecosystem' creation is basically the creation of systems centered around the new technology that does not rely on existing systems to function. These can be  technological use of the underlying technology to ensure various user needed functions (domains, anonymity, communication, data etc.). But more importantly from a business diffusion perspective, they also need to create ecosystems that businesses find attractive, such as platforms for trade (e.g. eBay like platforms, or online stores), salary systems, tax and regulatory systems, DACs etc.

The first is crucial for short term viability. The second is about 10-15 years down the line (if the story of the internet will repeat itself). Those who feel that they may be too late to board the ship should probably stop looking for the ships that have sailed and instead focus on the ones that will undoubtedly emerge over the years to come.

Share your thoughts!