Forget The bitcoin: NEO and Ethereum (ETH) are the future!
In the last few weeks, the crypto market has crashed after a momentous rise in 2017. Coins such as bitcoin and Ripple that were all over the media in December for performing so well have lost almost half their value. But amidst all this, there are two coins that have held their ground, or experienced minimal value losses. Those coins are Ethereum (ETH) and NEO (NEO). Their ability to hold their value in a turbulent market is not a fluke, but rather a clear indicator of the future of the crypto market, and that’s smart contracts.
Banks are here to stay!
Why do I say this? While everyone seems to be focused on how bitcoin and cryptocurrencies will replace fiat money and the banking industry in general, there is one point that never comes up. How will this happen? Are the fundamentals for such a thing in place? The answer is a big NO! That’s because there is no time when governments will ever allow currency to be controlled by the population! That’s impossible especially in today’s world where governments have to deal with issues as complex as international terrorism.
In fact, as the world becomes more complex, research shows that more centralized control could be the future of governance! Before, you think I am crazy, look at the emerging trend across the globe in terms of personal privacy. It is being taken away from the individual slowly by slowly by ever bigger governments!
The case for smart contracts platforms
Now that we are clear that the whole hullabaloo about cryptos replacing fiat money is a pipe dream, let’s focus on why I believe smart contracts are the future. Smart contract platforms such as Ethereum (ETH) and NEO actually solve a real-world problem, by making existing systems better. For instance, through the trustless nature of smart contracts, processes such as voting and legal contracts between individuals suddenly become highly efficient and transparent processes. That’s why nations all across the world are warming up to Ethereum, NEO and other smart contract platforms.
Canada is one example of this emerging trend. The Canadian government has entered into a partnership with the Ethereum platform to enhance efficiency of its legacy infrastructure. Brazil too is warming up to the Ethereum platform. The country is flirting with the idea of using Ethereum to improve the efficiency of its electoral system by making it trustless, and hence more trustworthy.
Thousands of kilometers across the globe, China seems to have a soft side towards the NEO platform. That’s despite being on a war path with cryptocurrencies for the last several months. It is partly due to the fact that NEO actually has a real use case that the Chinese government can use in improving efficiency in its governance systems.
Make the move and invest in smart contract tokens
Well, by now it must be clear to you that smart contract platforms are the future of cryptocurrencies. Rather than listening to all the media hype focused on how cryptos will replace banks and all that, it would probably be wise to stock up on smart contract tokens, with investments in Ethereum (ETH), NEO (NEO) and other smart contract platforms. The long-run case for these is clear!