Look at crypto from a different perspective: The world is changing so fast, you need hedging tools to deal with the changes

Original title: "Is crypto still a protest movement?"

Author: Daniel McGlynn

Compiled by: Shenchao TechFlow

Open Money is a form of protest currency.

In other words, open currency is anything that goes against the dominant narrative, or what you want it to be.

So, what exactly does this mean?

It’s been really interesting to watch how cryptocurrencies have been demonized or promoted by politicians and business leaders.

Often, people hear statements like: “Cryptocurrency has no value” or “ It’s just a tool for criminals .”

On the other hand, there are those who launch meaningless meme tokens or hoard Bitcoin like crazy, behavior that looks more like gambling than financial strategy.

But in reality, cryptocurrencies, or more specifically, open currencies , are not about pursuing some extreme idea. Its essence is to enable people to find alternatives to parts of the existing system that do not meet their needs.

Practical application scenarios for open currencies may include more convenient cross-border payments, more efficient ways to store revenue or value, and the monetization of creative works without relying on becoming an internet celebrity or affiliated merchant.

Open money does not pursue extreme positions but offers a middle way.

The main advantage of an alternative system operating in parallel with the existing financial system is that it can provide a balancing fulcrum during times of chaos or instability.

Open currency is a tool that helps people find their way through extreme times while building personalized financial and information products. These products offer both personal control and global connectivity (and sometimes both).

However, as cryptocurrencies become more integrated into the mainstream system, will they lose some of their utility?

Use case ambiguity: an advantage

Not too long ago, it was easier for people to understand cryptocurrency, or at least know what it wasn't.

Early cryptocurrency adopters and developers often focused on creating alternatives that attempted to counter the traditional system.

But in the past year or two, cryptocurrencies have gradually become more like a part of the traditional system rather than a completely independent existence. For example:

• The launch of cryptocurrency ETFs and the influx of institutional funds;

• Cryptocurrency becomes part of presidential political agenda;

• Cryptocurrency-based prediction markets compete with traditional media during presidential election.

Still, the core value of cryptocurrency—those developers and teams exploring the boundaries of possibility—requires continued innovation at the edges.

Open money: a hedge against change

At the end of every year, people always look back on the past while looking forward to the future.

Recently, I have been paying attention to some news: the appointment of the new “cryptocurrency czar”, the influence of the newly established cryptocurrency lobby, and whether the incoming SEC (U.S. Securities and Exchange Commission) chairman has enough cryptocurrency-related experience . These headlines make me marvel at the surprising speed at which cryptocurrencies have moved from fringe topics to the spotlight.

However, the shift toward “legitimacy” seems to ignore the core meaning of cryptocurrencies. The important thing is that we need to avoid being fooled by this superficial "legalization", let alone sacrifice the original intention and create another "too big to fail" financial system.

The world is undergoing rapid change.

We need alternatives, alternative mechanisms and flexible systems that scale from the individual level to the global level to cope with these changes.

We have explored how demographic shifts, advances in information technology, and changes in the economic landscape are driving change. Against this backdrop, decentralized, permissionless and non-custodial assets will become particularly important in the future.

All in all, we are facing a future filled with uncertainty, transformation and change.

On the one hand, these changes may bring disruptive impacts; on the other hand, they may also create new opportunities. Against this backdrop, we need a middle path.

Open currency provides people with more choices to respond to change in the following ways:

• Permissionless systems allow users to choose the system that best suits their needs (whether in finance, information, identity or creative fields).

• Non-custodial wallet and key management give users full control over their assets, which is particularly important to improve asset liquidity, portability and privacy protection.

• Interoperable and programmable systems support multiple digital asset application scenarios, such as peer-to-peer payments, cross-border transfers, or digital asset value storage.

These properties enable open currencies to not only preserve individual freedom, but also empower users with Internet-scale tools and networks.

As the world enters a period of restructuring and dramatic change, these attributes of open currencies will become increasingly important.

We still need such a "rebel currency".