While there have been many disruptive innovations, few have been as contentious as blockchain and cryptoassets. From inception, blockchain was intended to have a political and socioeconomic impact by removing the role of central banks as the gatekeepers of value.
It is appropriate to refer to “value”, as this is at the cornerstone of the cryptoasset debate. For example, take bitcoin. Bitcoin operates on the basis that it is finite in number and is exceedingly difficult to fake, however it has no “intrinsic” value. So, if participants value a bitcoin at $1m, then that is its value. Similarly, if participants value it at 50 cents, then it is worth 50 cents. The value is subjective and is generally a reflection of supply and demand — which sounds scary.
