The Future of Crypto
or: How I Learned to Stop Worrying About What Coin is 'Best'
The year is 2025 and the US economy has begun to boom after a history-book recession. Stocks are full-steam ahead and BTC is on it's way to the moon. (see FAQ "What is a Halving")
Amazon has launched their flagship token, SmileCoin. SmileCoin is a stable coin (always worth $1) and can be used as cash for any purchase (including Amazon Web Services). Using the Decentralized Finance model, by keeping your SmileCoin in your Amazon "wallet," Amazon pays you back 7% APY (in SmileCoins), better than any traditional banking account can compete with.
Because Amazon is no longer paying credit card transaction fees, Visa, MasterCard, and AMEX have all burrowed their way into "HODL" positions for SmileCoin.
What if Amazon doesn’t deliver the fresh produce you like? For a $5 transaction fee you can use "TokenSwap" to convert 100 SmileCoins to 7800 GroceryBucks or .0004 GoldCoins.
Don’t want to wait in line? Everything from supply chain to payments are on the public blockchain. Walk into the store, open the "wallet" on your phone, take a picture of the UPC (to add to cart), and then scan a check-out QR code at the security desk (to make sure you're only taking out what you've scanned, of course).
But alas, the tax man cometh and how are 'they' dealt in? Do individual governments deserve a stake in our globally-decentralized "coins"? They can buy coins (from us!), they can run mining nodes and store all of our data, but they can never manipulate the supply again.
So we are presented with the great mystery of crypto - What happens to our financial institution when the blockchain reigns supreme?