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The Crypto Definition You Didn’t Know You Needed

December 12, 2022
December 12, 2022


  • Crypto is a technological advancement, NOT a new asset class.
  • BTC & ETH are not designed to replace fiat currencies.
  • Few truly understand crypto and those who do are the “lucky ones”.

Crypto is NOT an Asset Class.

The words “asset class” often get thrown around in crypto, especially by institutions. This is far from reality.

An asset class, by definition, is a group of assets that share similar characteristics. Examples:

  • Stocks/Equities: They represent a share in a company’s ownership.
  • Real Estate: They’re property represented by land or buildings.

Crypto is a technological advancement like the internet.


  1. What do you currently use to hold your funds and make transfers/payments? You use a bank. What is the next iteration of this model? Truly owning your funds on a blockchain, transfers are instant, cost almost $0 and its open 24/7.
  2. Both Platinum and Tantalum are rarer than Gold. Yet Gold is what’s considered as “the rare metal” and “store of value”, it is so because society chose it as such. Bitcoin is similar, there can be scarcer supplies but it is what seems to be currently chosen by society as “Gold 2.0”. It’s easy divisibility, transport, storage and liquid markets all make it superior to gold.
  3. Buy a stock and you own a share in a company, do you have any say in what goes on in it though? Only if you’re a major holder. Token governance creates equality and transparency amongst company owners. On regulations, there should be a new type of on-chain/decentralised regulations.

Crypto dApps are the new Web3.0 Startups

“Use BTC for Payments” is Non-Sense.

The goal isn’t to have Bitcoin or Ether used as currencies to pay for goods and services. To this day people call that “adoption”, and they get excited when a shop accepts BTC, but they’re missing the point.

The current financial system model works fine. The problem is that it’s old, clunky and operated by old men who make tons of bad decision. The purpose of crypto? Improve the financial system by replacing it, it is the next frontier. Note, we did not say crypto assets replacing fiat currencies. we said crypto replacing the financial system.

Fiat works fine, maybe we need another form of fiat with rules set in code to replace devalued ones, like the dollar. But, people need to stop getting excited about using BTC in shops, that’s non-sense.

Understand Crypto

The reality is that even though crypto has been around for over a decade, few understand the point of it. Crypto is a technology that will get adopted worldwide. The goal is to provide real user-ownership in companies (incl. Cryptonary) and having truly free, open and global financial markets.

What we call “projects” and “protocols” in crypto are the next wave of start-ups. In other words, Uniswap, dYdX and others are businesses/companies. In society, we reward companies in proportion to the size of the problem that they solve.

If you want to dive deeper down the crypto rabbit hole, read this. You’ll find out what the biggest problems that need solving are.

Karim Abuzeineh

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