Why I Think The Crypto Winter Is a Good Thing

I think a realignment of the economy was overdue

The financial landscape as we know it has undergone significant transformation in the past few years due to improved technologies. This process was rapidly escalated during the Covid 19 pandemic, when contactless payments became a necessity and when customer expectations underwent a dramatic shift.

The traditional world of finance is now almost unrecognisable as startups are challenging the old ways of doing things and as technological advancements completely alter the landscape where the Big Banks once stood unchallenged.

While the recent drastic drop in digital currency values which led to the crypto crash have some wondering whether this unregulated industry and all its possibilities will weather the storm, the many changes and advancements brought on by fintech are not going away and they will continue to have a remarkable impact on us all.

In a recent interview with the Harvard Gazette, Scott Duke Kominers, a professor of business administration and research partner at a16z Crypto, highlighted that not all crypto products are purely financial, and that there are many consumer-facing products too.

“The long-run view is that there is real fundamental technological value here, and so what really matters for the market is whether we can realise that value through entrepreneurship and…