Welcome to the twenties! During the previous twenties decade, the Western society experienced what would come to be known as the Roaring Twenties. This was a period in history of great economic and cultural prosperity. Large-scale developments and the use of automobiles, telephones, movies, radio, and electrical appliances led to significant new changes in lifestyle and culture. It was such industrial arrangements that laid the foundations for the world we’ve become accustomed to. That’s the significance of the 1920s decade, and the 2020s mark a hundred years since then.
Now a century later, there’s a new large-scale development on the horizon for this 20s decade. This new development looks to revolutionize all the industries developed since the 1920s. And it will likely overshadow the 1920s’ great achievements. I’ll delve more on this development later on. Before that let me provide some perception on how the 1920s history ties with the 2020s future.
[DISCLAMER: The content you’re about to read is not financial advice. It is not a solicitation to buy into any financial instruments or representations of money.]
In your opinion, what is showing great signs for an economic boom in today’s society?
It’s the impending recession. Don’t worry, if you thought blockchain/cryptocurrencies you are correct, and I’m going to explain how the next recession will bring an economic boom in cryptocurrencies. Coincidentally, or maybe not, Western society experienced an economic depression in 1920-21. Which was quickly followed by the economic boom (Roaring Twenties) for the remainder of the 20’s decade. I’m of the notion that history is about to repeat itself.
The cryptocurrency market is experiencing its own depression since the great boom in 2017. Couple that with the fact that we haven’t had a recession in the real economy since the global financial crisis of 2007-08 over a decade ago. We are long overdue a recession. I’m not rooting for it, it’s just a natural occurrence in our financial system. We’ve always had regular recessions of varying degrees. The fact that we haven’t experienced one in over a decade now, makes this span a record time.
It’s difficult to pinpoint why it’s been so long since the last recession. The more optimistic will say it’s because we have a much more improved financial system today. I say it probably has something to do with cryptocurrencies. After all, Bitcoin was created during the last recession as an alternative to the bank system. I believe cryptocurrencies as a whole have managed to absorb some of the pressure from the traditional system. Especially during the bull-run of 2017-18 when cryptocurrencies had a market cap of nearly $1 Trillion.
The case for cryptocurrency
Earlier I said I would explain how the next recession will bring an economic boom in cryptocurrencies. In previous times precious metals, such as gold, served as safe havens for investors and still do. However, that’s slowly changing as cryptocurrencies offer a safe haven for even the larger general public. Now with cryptocurrencies in place, the next recession will not be as harsh for the many who choose to quickly buy into them before it occurs. Also, this will likely be the last recession we’ll ever experience from the traditional banking system because it will cease to exist in its traditional form.
During the coming recession we are going to have a transition of systems; as people migrate from the traditional system to the blockchain system. Most fittingly too because this 20s decade marks a century since the Roaring Twenties. It’s been a century that has served us well, with all things considered. But now it is insufficient in this ever expanding digital era. An era where everything is done on the internet, from shopping, to banking. Life is no longer as it was in the 1920s, today the internet has become a place for business, recreation and social life. It is now time to evolve as a society.
A future foretold
Ten years ago Bitcoin was worth $0.0041 when a Florida man (Laszlo Hanyecz) bought two pizzas for 10,000 bitcoins ($41). Today those bitcoins are worth much more and the two pizzas have effectively set the man back $72,800,000. On the other hand EOS is still worth $2.60 and has potential to be worth much more by the time the 20s decade is over. For instance, 1,000 EOS is worth $2,600 today, how much do you think it’ll be worth 10 years from now? I know most people are probably thinking ten years is a long time to wait. But it’s not long when you consider blockchain will probably be around for centuries to come. What you acquire today can be passed on to future generations further down the line.
As we transition from the old system to the new so will the value that’s currently being held in the traditional system. By the end of 2018, the total stock market cap of developed countries was $40.6 Trillion. The total market cap of cryptocurrencies today is $195 billion. In other words, Cryptocurrency represents only 0.48 percent of the global stock market at best. This shows there’s plenty of room for growth in the blockchain space. Without a doubt in my mind I believe those numbers and percentages will get flipped around. The world’s first trillionaires will come from the blockchain space. Speaking of space, cryptocurrencies are technically the only currency that can be instantly transferred to space and other planets.
Today there’s a state of urgency amongst governments regarding the adoption of blockchain. Which shows that the reality of a blockchained future is real and one that can’t be ignored. They are finally showing the willingness and putting in effort to learn about blockchain’s applications far beyond cryptocurrencies. From the West to the East there’s talks of regulation with China announcing its intentions to implement blockchain. The SEC in the U.S. has also upped their involvement and is currently vetting blockchain projects. As an independent agency of the US government, it is highly likely that the government consults with them for some knowledge.
Roaring Twenties 2.0
This new influx of stakeholders (users) in cryptocurrencies will lead to a market boom like never seen before. Market leaders such as EOS especially will see huge gains in price as people will first buy into the top performing ecosystems. They will then move on to look for cheaper alternatives that are capable of facilitating for their needs. Funny enough some of these best performing alternatives are also within the EOSIO ecosystem. Bitcoin has stood the test of time and at this point has proved that the concept of blockchain and cryptocurrency does work.
Social life is booming, music is great, the culture is divine and everyone is having a time of their lives. This will be the reality caused by this new found economy of blockchain. A widespread economic prosperity awaits us this decade. During this economic boom governments will increase their spending to help stimulate the market. People will be offered easy terms for acquiring loans. Thus leading to an accelerated consumer demand and spending. Creating a feeling of novelty and that of modernity from the influx of new technologies (Deflationary currencies, Virtual Reality, Play-To-Earn apps etc). All our neighbors will be rushing to join cool blockchain ecosystems like EOS. ‘When Lambo?’ will be a term of the past.
For the first time in over a century anyone in this new age is able to invest in their favorite companies. Investing in potential Billion dollar companies is no longer a privilege afforded only to the rich. There are no restrictions on the minimum you can invest or net worth barriers. This is an economy of the people, by the people. It’s the same people that will drive the economy to heights never imagined possible. Fueled by the countless number of companies that’ll on-board their systems to the blockchain, publicly or privately. This is the vision for the twenties decade – the “Roaring Twenties”!
Inter-Blockchain Communication (IBC)
Another first time for human history is that all the world’s nations are about to be connected. Blockchain introduces a global economy bearing no borders, restrictions, or differences in jurisdictions. This will be the catalyst to its major success on the planet. As its users grow in numbers so will the value of individual cryptocurrencies since they are of a limited supply. Some communities in the blockchain space will prosper more than others depending on what they have to offer. A good question you have to ask yourself is ‘what does my blockchain have that would attract new users in this coming age’?
Regardless of which blockchain community people choose, for the most part they’ll still be able to connect and communicate through mutual dApps (decentralized apps). The beauty of blockchains is that they all have their different styles of function and this attracts similar people to similar blockchains. Which blockchains a person chooses to join is up to them as they aren’t limited. In the future of Inter-Blockchain Communication (IBC) picking a blockchain will be like picking a favorite theme for your computer.
A single blockchain couldn’t serve an ever growing population of over 7 Billion. For one, blockchains are not yet equipped to support such a massive number of transactions. Not to mention the additional transactions from automated systems like smart-fridges and driverless cars. Secondly, even if it were capable to single handedly facilitate everything, would you feel safe in that? Knowing your entire life (wealth, sensitive data, contacts, fridges, cars etc.) is dependent entirely on a single blockchain? Metaphorically speaking, should an unfortunate event occur that leads to the blockchain crashing or being compromised, then so would people’s lives.
The 20s decade will be talked about for years to come as the decade the world shifted to blockchain technology. I’m eager to discover how it will match-up to the previous twenties decade of the 1920s. Will it be as historic as the Roaring Twenties or perhaps much more epic? All signs seem to point to an epic decade ahead of us. I’m just trying to enjoy the journey and to capture the future in real-time as it unravels in front of us. Buckle up for an awesome journey into the Roaring Twenties!
Thank you for reading!
Disclaimer. EOSWriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.