I can bet crypto will be no different from all the other booming industries of the past.

At first new wealth and new billionaires will be created. The crypto space will then consolidate around a handful of exa-rich.

Which will then enlist the institutions (financial system, governments) to shore up and protect their position.

The only consolation is that all these new industries poping up (robotics, AI+crypto, bespoke manufacturing) will usher in an era of abundance. On average, as people get richer, once they feel secure, they also start feeling more generous toward the others.

The innovations coming thick and fast these days are changing our world from one of "economy" to one of managing abundance. As an aside, no wonder economists (unlike lawyers) seem completely oblivious to this rapid transformation ... their whole field of inquiry is fast losing relevance.

We need to turn our attention from being "economical" to being social, strengthening back the social ties which the "economic globalization" movement has torn apart