I agree with this but you might be missing my point. Crypto as a store of value and the ability to transfer funds is nice and all but it's not the big picture. I think focusing on that you rightly see limited practical application in large parts of the world, such as the USA.
The real revolution is in smart contracts and virtual machines that run on a blockchain and the ability to define ownership of a distributed organization to distribute profits accordingly. Blockchains on blockchains that having turing complete contracts that can guarantee there isn't even the ability to cheat the distributed, mainly anonymous organization participants.
We aren't even close to that - it still takes an incredibly suspect ICO to raise money by selling stake for a top level coin in which they will inevitably have to convert partially to fiat and the vast potential for scams there. But the smart contract can be programmatically limited and only release funds over time and only continue to when certain events have taken place, and refund otherwise, etc. I guess I just see the vast potential here. More infrastructure supporting things is required and I'm not sure what that is but someone will discover these pieces.
I see many more Asian and European groups trying to build these types of things today. Maybe it's out of necessity as well since there isn't a vast source of wealth available to fund these crazy, new ideas.
The real revolution is in smart contracts and virtual machines that run on a blockchain and the ability to define ownership of a distributed organization to distribute profits accordingly. Blockchains on blockchains that having turing complete contracts that can guarantee there isn't even the ability to cheat the distributed, mainly anonymous organization participants.
We aren't even close to that - it still takes an incredibly suspect ICO to raise money by selling stake for a top level coin in which they will inevitably have to convert partially to fiat and the vast potential for scams there. But the smart contract can be programmatically limited and only release funds over time and only continue to when certain events have taken place, and refund otherwise, etc. I guess I just see the vast potential here. More infrastructure supporting things is required and I'm not sure what that is but someone will discover these pieces.
I see many more Asian and European groups trying to build these types of things today. Maybe it's out of necessity as well since there isn't a vast source of wealth available to fund these crazy, new ideas.