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  • Waller: Thoughts on the Crypto Ecosystem

    From federalreserve.gov

    Thanks to the conference organizers for inviting me to participate today. It is great to be back at a Global Interdependence Center conference. Given recent events in crypto, it is certainly timely to have a day of discussions related to digital assets.1 Before diving into today's talks, which will touch on various parts of the crypto ecosystem, I'd like to clearly define some concepts to ensure we're all talking about the same things. I think of the crypto ecosystem as consisting of three parts: • a crypto-asset, which generally refers to any digital asset implemented using cryptographic techniques that is being ... (full story)

Added at 12:32pm

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It is clear to me that Waller doesn't value the attributes of Crypto in general.

Let me illustrate the core principles of the Crypto Market by and large:
- Decentralization enabled by the unbiased accounting of a distributed/organically grown Blockchain
- Programmatically Enforced rarity/scarcity.
- The basic law of Economics: Demand vs Supply

It is clear Waller views Crypto as a digital non entity with no intrinsic value.
He completely ignores the value proposition of the technology itself. Its as if he just saw the first version of Windows for Networking, and was trashing it's execution, because it hadn't matured it's series of killer applications.

This is one of the things that excites the Crypto Enthusiast.

He Speaks about smart-contracts positively, completely ignoring the flagship Proof of Work Contracts and Bitcoin.

This folks, is fascinating, and also tragic.

Summarizing my assessment:

Waller is NOT a Visionary, and not a source I'd render credible as an influencer on the value of Crypto or it's future after Dinosaur's like Waller try to Regulate it.
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