Recessions are scary - but it's also why adoption will explode

Sharing a comment I rambled down in response to someone fearing the downturn. Yes, a recession is dangerous and introduces instability but it's also going to make adoption bloom.... here are my thoughts.... take them for a shibu or two...

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Most of us are aware and acknowledge that the market is heading to the bear's den.... that's WHY crypto is generating such interest and adoption.

During the Great Recession, three large categories for companies were examined with a fine-toothed brush looking for savings and streamlining. Headcount, expenditures, and, efficiencies.

One of the marked savings with smart contracts, for example, over pre-crypto financial industry was the need for intermediaries, middle-management for your money. A smart contract auto-loan saves everybody money except the middle-man, which means lower interest for the borrower and i higher percentage for the issuer. Removing costs and headcount associated with that intermediary layer by utilizing crypto and smart contracts is getting a LOT of attention as the market dips.

Expenditures is an easy sell as the blockchain makes each and every transaction searchable, public, and secure, so those TPS reports generate themselves. Hell, smart contracts can be written to autogenerate and parse those expenditures to find biggest cost cutting.

The boom of cloud computing and work from home mean easier, smarter, simpler ways of doing business are growing incredibly fast. The companies that move earlier and adopt will find themselves with the biggest windfall of savings from find cheaper and faster ways of doing business. Look at Stripe accepting payments of USDC via the polygon network as they recently announced. Instead of 3 - 5 days for an EFT to formally settle, 5 seconds and boom, accounts are settled.

Crypto moves beyond the boundary lines and is finding adoption just for ease of access across borders. Crypto adoption is growing exponentially. NFTs are shifting from JPEG ...'artwork' to actual use cases like tickets, property deeds, to medical information.

You say we should all be scared because a recession is coming... nah, man, the recession will streamline adoption as companies, investors, and even gov'ts look to cut costs and increase efficiency.