I remember seeing this sometime ago and it made me really excited for future possibilities. Imagine a world in which you can e.g. pick up an instrument and master it in a very short time (the interface between the bionic arm and the brain "learns" through machine learning algorithms, which are going to get more and more sophisticated). And mechanical things like that are just the surface. Perhaps we'll be able to experience new colours and sounds by increasing our bandwidth and resolution, or even navigating (digital) spaces of higher and lower spatial dimensions than 3.
I had no clue what the BIS was, so I had to google it.
The BIS is the ‘central bank of central banks’. To be honest, the recent media outings of their chairman on the rise of cryptocurrencies were not exactly what the public is waiting for in terms of banking reform (how not to increase faith of the public in banks or: a PR disaster in the making). I hate to say it but the physical appearance of the guy also does not help in the minds of the public.
It all smells like making their long term irrelevance a given by their own (in)action, even without the ascent of cryptocurrencies.
I'm not overly concerned with the mind of the public. We have a very strong support and an increasingly large industry. The public mainstream will eventually follow along, regardless of whether or not they realize it (e.g. by crypto forming some invisible back-end in Paypal like apps).
When the internet and computers were more fringe, even as little as two decades ago, people who used those were often frowned and shunned upon by the rest of the population. And we can all see where those innovations are now. There's also no denying that some developments in the blockchain industry, as well as the blockchain itself, are groundbreaking by a multitude of measures. What the internet did for information, the blockchain does for finance.
I'm trying really hard to find cases in which cryptos could fail to better educate myself, but I can't seem to find any that aren't less probable than winning the lottery. From what I've gathered over the years, far too many factors would have to align simultaneously to bring the crypto space down, and I just don't see it happening.
