Gold & Blockchain
Gold & Blockchain by Kevin Vecmanis, P.Eng – VanAUrumTech
Gold never changes – only the world changes around it.
I can’t remember where I heard this quote, but I’ve been thinking about it a lot lately. Gold, as an asset class, has one of the richest histories of all the earthly assets ever to have value bestowed upon them by man. As far back as we go in history, for which there is archaeological record, we find evidence of an infatuation with gold.
I was talking with a friend the other day about VanAurum, artificial intelligence, and blockchain. He asked, “Why are you building an artificial intelligence for gold? Isn’t it dead? Why don’t you just build an artificial intelligence for analyzing crypto?”
As an investor, it’s perception like this that gets me excited. Successful investing is all about selling things that people want now, and reinvesting that money into something that people will want later.
There is a tremendous capital vortex that has formed around crypto and blockchain. I use capital vortex, and not “bubble”, because a capital vortex is like a bubble except that it always leaves something useful in its wake.
While every retail trader and investor in the world is focused on catching what’s left of the cryptocurrency mania, if you peel back the top layer you can see an enormous amount of activity preparing for phase 2. Phase 2 is what happens when the speculative mania in cryptocurrency ends and the world is left with an enormous technological infrastructure that is left behind by the capital vortex.
To answer this question, you need to know what will be left when the ashes clear. The answer is, what has always been there. When you peel back all the emotion, greed, fear of missing out (FOMO), hyperbole, euphoria – what’s left? What’s left is a giant machine that validates transactions and contractual conditions without a third party.
It doesn’t sound as sexy, but that’s the tool we’ve built. Hundreds of billions of dollars have poured into it, along with endless hours of tech and business expertise. We didn’t build it from scratch, we upgraded another piece of technology that was left behind by the last capital vortex – the internet.