I read this article the day about a firm trying to get an ETF for bitcoin passed in Europe. You probably have read a lot about ETFs lately as the theory is it will bring in a lot of money into the crypto market. This firm was referring to cryptocurrency as crypto assets as that is what they wanted an ETF for, assets. This got me thinking that a name change could go a long way for cryptocurrency.
First it would stop people from focusing on crypto as money. Yes it could be money and places around the world can accept it for goods but that is not the main appeal of crypto. And crypto has already be accepted as an asset so that is a battle won. It will make crypto easier to explain for investment purposes and give it grounding. People are used to dealing with assets and now they can apply that to their crypto. There is still the issue of it being digital but we are getting to the point where people are used to digital items having value. And when we have games with crypto collectibles in them the term asset works there as well.
I think we are heading to a lot more uses for crypto that fall under asset than currency. Crypto can be a lot of things and with smart contracts things are only going to be more complicated. Any way we can help make it more user-friendly is a plus.
