Professor Scott Galloway and his “No Mercy, No Malice” blog have been featured here in previous posts. Recently he explored what for many is the new world of crypto assets and the revolution they portend. Many Boomer executives have found themselves at a disadvantage over the last few decades during the technology boom vis a vis younger “digital natives.” According to Galloway, a new and more profound level of frustration awaits the over 50 set in what may be called the “crypto revolution.”
It started as just being about bitcoin (i.e. crypto currency), but now other crypto assets are emerging. The digital artist Beepie recently sold an NFT (non fungible token) associated with his work for $69 million which designates it as the original (that’s right; $69 million for a virtual asset).
Galloway explores how two fundamental drivers of value; Trust and Scarcity, are being found in the world of crypto assets. As these drivers are fundamental to value in our businesses as well, we must learn more about this development. As Galloway says; “Crypto is a $2 trillion disruptive force.” It’s not going away.
If you’re behind on things crypto, and want to start understanding this, check out this TED Talk on Blockchain, the underlying technology of the crypto world.