Digital assets are often lumped under the label “cryptocurrencies,” which fosters an association with the traditional idea of “currencies.” To some, that means we need a new term. Opinion by mikejcasey
I’m sure many readers of this column will recoil at this effort. Some may even see it as a centralizing power grab.
idea to have concerns about the many Davos member companies and institutions whose business models perpetuate that system’s exploitative, centralized power structure.crypto bros and with what MIT Digital Currency Initiative Director Neha Narula calls “token casinos.” That the word now makes policymakers and executives squeamish is a barrier to progress for any crypto industry leader looking to engage with them.
Brynly Llyr, the head of blockchain and digital assets at the World Economic Forum, suggested “decentralized systems” as a phrase that’s accurately descriptive of the function this technology plays without risking a negative association with crypto culture.Others are simply resurfacing “blockchain,” hoping it will be more palatable to businesses that want to use these systems to manage enterprise needs. The industry’s language problem goes beyond the negative connotations of “crypto.
“Too often we’re talking past each other,” says David Treat, senior managing director of Accenture’s blockchain practice. “People apply an argument about one domain which doesn’t really work with all the others.”
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