by Chris Black
It’s been seven years since the promise that every sale of every piece of property would be executed with a smart contract within two years.
I was promised that traditional escrow accounts and mortgage documents would be a thing of the past.
I put my house up for sale and haven’t received a single offer with crypto. None of the banks are using smart contracts and the traditional escrow still exists. All the paper contracts are still there requiring physical signatures.
Commercials with a list Hollywood actors are telling me that I don’t want to miss out on the next big thing. A washed out Larry David is telling me that crypto is bigger than the wheel, the declaration of independence, and the telephone. None of the commercials tell me why I need crypto or how it works. The entire argument is simply FOMO.
Think of the period between 1992 and 2005 with the rise of the modern internet and the WWW.
Crypto has been around that long.
Crypto was supposed to surge because people in Ukraine would need it to get money out or buy items they need.
Instead Crypto prices plunged.
With the small prospect of peace, crypto prices surge. The exact opposite of what was supposed to happen.