We are only just beginning to understand the implications of blockchain technology for the future of the human race, say crypto veterans Craig Sellars, co-founder of Tether, and Luke Stokes, managing director of the Foundation For Interwallet Operability.
The mainstreaming of crypto, said Stokes, will accelerate as it becomes a larger part of everyday activities, as the Internet began to do 20 years ago.
“It's gotta be part of [people's] daily lives," he said, comparing the state of blockchain technology with "the Internet prior to the HTTP protocol that provided the browser.”
Stokes noted data showing the adoption of crypto is happening faster than expected largely due to financial incentives. "The incentives are significant and people are always looking for better investments,” Stokes says.
Sellars drew a comparison to the days of Internet on-ramps—like Delphi and America Online—used to access the early web. Once people realized they could access the Internet in other ways, the on-ramps were no longer needed and disappeared.
Looking to the future, Sellars imagines a fully integrated metaverse that has evolved beyond the need for crude on-ramps.
“We're looking at NFTs today as JPEGs that have ownership on a blockchain," he said. "We're not realizing that those things are going to have GPS coordinates. They're going to be running around the streets in augmented reality. You're going to be picking up little cartoon characters that are autonomous digital objects that interact with one another in our everyday lives,” Sellars says.
Watch the full panel: