[c54]

Cryptos are interestingly the one example of this, and they’ve been around for a really short time.

One of the fundamental reasons this is the case is because trading requires enforcement of property ownership, whoever is doing the enforcing is de facto the government. Private keys and smart contracts allow for ownership which need not be defended, though admittedly only over things in a limited sense. Your keys mean you own your wallet, but an NFT of a bridge doesn’t mean shit.

Most crypto volumes aren’t drugs at all, but are people buying and selling other cryptos using cryptos.

It’s going to be interesting to see if web3 bears fruit but so far that has largely not happened