It can be a lot of fun to think about exactly what would happen if certain choices were made differently. What if events never happened in our reality or some innovations never happened? These thought experiments can lead to some wild alternate realities, especially in the case of Cryptocurrency.
Various cryptocurrencies have come into existence and they’ve gone from being an internet fad to being something that could replace mainstream currency. Their very existence showed the world what was possible, and now they’ve only continued to grow. They’ve made payments easier, overhauled what a secure space can look like, and have even opened the door to all sorts of virtual activities.
But what if there were no cryptocurrencies? How would their absence change the world as we know it?
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Case 1 – No Crypto Gaming
If crypto was no longer a thing, you would likely still be able to pay for your time in a casino in cash, you wouldn’t be able to play Bitcoin casino games like many players used to to in our days, and there are good reasons, indeed. Crypto enhances the way these games function. The blockchain technology that crypto casino games are built on has a lot of benefits.
Crypto gaming is easy for one thing. People can play their favorite casino games anywhere and they just need access to their crypto wallet. Plus, every time the players win, they can see the transaction happening in real-time on the Blockchain, and they will take home money by winning crypto.
Plus, the cryptocurrency gambling market has caused a massive boom in both money and innovation. The global blockchain gaming market size per revenue is around $4.6 Billion at the time of this writing. More casinos and companies are jumping on this, further enhancing the cash cow and the types of games people play.
Case 2 – Online Security Wouldn’t Be the Same
While online security and its advancements would likely still exist because the internet would still be around, it wouldn’t be as effective. Everywhere that uses cryptocurrency, from casinos to online stores, has needed to enhance security. Because even with anonymous Bitcoin casinos and the transparency of blockchain, online security is still needed to keep people from stealing Bitcoin and personal information.
Many casinos are beefing up their security to deliver privacy for their players, and online storefronts that use cryptocurrency are doing the same thing. Even Bitcoin wallets have become more secure due to each one needing a personalized key. If you have your key, you can access your wallet, otherwise, it stays closed.
Case 3 – There Would Be Less Progress On The Metaverse
The big technology leaders would have likely come up with this idea eventually. However, there would be less progress on the metaverse. Things like Bitcoin, blockchains, and the token-based economy wouldn’t exist or would at least take much longer to develop.
But in our reality, NFTs and tokens powered by blockchains are going to be the future currency of this digital world. Players in the metaverse will be able to buy customized tokens and materials for their digital avatar and for their own corner of the digital world. Cryptocurrency is going to be one of the main ways those purchases are made, and without them, the idea of a digital world would likely hold a lot less weight.
Case 4 – The World of Digital Art Would Suffer
NFTs have been used for many things, but what they are most known for is their use in art! Crypto art is extremely beneficial for artists who love to paint, make music, and 3-D print. Crypto art isn’t just easier to produce, but it is also easier for the original artist to own. Everyone else downloads a copy, but the people who purchase the art get the real deal.
Having blockchain-based and NFT-fueled art has really allowed certain artists to take off and become something great in the NFT art space. If cryptocurrency and blockchain didn’t exist, then the digital art and music space would certainly be a lot smaller. So many great pieces of art would be lost to us!
It Is Hard To Imagine A World Without Cryptocurrencies
The truth is, that cryptocurrencies are spreading like wildfire and entrenching themselves into various industries. It is getting to the point that, likely within a few years, we won’t be able to imagine a life without some form of cryptocurrency benefiting us. But these thought experiments can be pretty fun to do during the day, and they can remind us just how important crypto is to various industries.
It can also be a way to remain grateful for the reality we live in where crypto does exist. Because we are the ones who can reap the benefits of cryptocurrency and grow alongside this interesting industry!
