Have you looked out the window lately?
According to a lot of mainstream analysts and government talking heads, the blockchain is dead. With the recent crypto crash and the sinking of FTX on everyone’s minds, nobody wants to think about investing in Web3 technology.
Instead, it’s time to pack things up and write Web3’s obituary. The whole idea was nice while it lasted, but it’s as good as dead now.
Or is it?
Could it be, as with Mark Twain, that the reports of the blockchain’s demise have been greatly exaggerated? Could now be the perfect time to run to this cutting-edge technology rather than away from it? Is it possible that this collapse was a natural part of Web3’s growth – something that would clear away all the rubbish so that a better Web3 could rise from the ashes?
If the history of technology teaches us anything, the answer is a resounding “Yes!”
Do you remember the dot-com bubble of the late 1990s? Widespread internet availability and the rise of the home computer led to thousands of companies moving into the online space. The excitement around these new technologies pushed the NASDAQ up 400% between 1995 and 2000. For millions of people, it felt like a ride that wouldn’t end.
Until it did. And when the crash came, it came hard.
Massive companies collapsed overnight. And even many businesses that survived, including Amazon, saw their value drop to a fraction of what it had been before.
At the time, doomsayers predicted it was the end of online retailers. No one would ever trust another e-commerce business again. Brick-and-mortar was here to stay.
But that was in 2000.
And today? E-commerce is bigger than ever. But that’s only because there were entrepreneurs who understood that the dot-com bubble bursting didn’t mean that digital retail was dead. It just needed time to mature. Entrepreneurs needed the space to explore new ways of making it profitable. And that’s exactly what happened. Just ask Amazon.
So, now is not the time to hit the eject button on blockchain. Instead, it’s the time to innovate. To explore new possibilities. To develop new technologies.
This doesn’t mean you should go throw your life savings into Dogecoin (or any other cryptocurrency). But it does mean that Web3 is still alive. It’s still coming. And right now is the perfect time to begin investing in the on-chain apps and products that will become Web3’s Amazon and Google.
Bear markets are quiet. They give us time to think things through. That’s why now is the perfect time to go back to the drawing board and think long and hard about the future. And sustainability. And creative ways to solve age-old problems.
It’s time to look for the blockchain-based solutions to our world’s greatest problems.
So, when the next bull market comes charging at us, we’ll be ready.