For Waves users who are not understanding the Tokenomica and Waves Enterprise developements here is a summary in simple english:
1. Decentralized crypto ICOs in 2017 mostly failed or were scams, this market is now dead and there are very few promising projects on waves blockchain from its token issuance function. Volume is low and onramping almost non existent. Only small or micro business can launch on unregulated dex.
2. Inorder to grow crypto market (not only waves but the entire industry), censorship permitting and regulated token issuance options must be developed quickly, otherwise establishment indexes such as FTSE, Frankfurt, DAX, OMX and so on will launch their own native platforms by copying Waves tech. This means that market capture of Fortune 500 will fail and status quo post fiat remains the same with same owners in power. The difference is that BTC and decentralized crypto will not capitalize from fiat phase out because establishment already migrated all stocks to blockchain, pairing them with native coins such as "NASDAQ Crypto" "OMX Token". This is in essence - government controlled crypto.
3. Interoperability is a solution to vastly improve scaling by connecting all blockchains. The global brain exists right now in its infancy and when IoT is streamlined this will have an effect more profound than industrial revolution, many times more powerful because smart currency can be programmed to utilize dormant CPU power of Smartphones and desktops. It is like Ethereum on steroids helped by all other crypto.
4. Fortune 500 is massively profitable and this is where top 1% of wealth is generated, but it can only be profitable through means of production and those machines require state sanction to be installed on state owned land (sovereign territories i.e inside countries on the land). This means that if crypto want to become trillion dollar industry, these merchants must be migrated from analog space (fiat/stocks/bonds) to digital. Because this is a regulated transition it will only enrich the developers of the system such as Vostok/Waves Enterprise which is 97% centralized and only 30 million of 1 billion tokens distributed to waves users in may 2019. The rest is Russian government controlled. It is probable that Ruble will become Waves Enterprise (old Vostok) because all state controlled companies such as Rostec will be migrated to that platform. It is censorship permitting and all projects are admitted only after permission from Russian state. But this will be the same for Western countries also because military must always be in control of Sovereign territory where profitable business are dependent on machines of production, and so cannot escape this state control.
5. Bitcoin is completely irrelevant in this 2020's evolution of crypto because it only has XCP to issue branded "tokens" and lightning network is owned by elite banks because of how nodes work (it's super centralized).
6. The effect of interoperability on Ethereum is not clear, but Waves is not developing turing complete smart contracts so there may be some USP but it is too early to know which chain will power the global brain. Probably, Ethereums competition (Waves) is catching up and any USP such as Ethereums $180 billion monopoly valuation from 2017, will be shared with Waves and maybe some other frontier projects like Stellar. But there are not many projects so far advanced in this space because there is simply not that many talented devs who can work in large teams.
7. If Waves Enterprise with its 1 billion supply is connected with Native Waves 100 million supply, and all functions of Native Waves can now be performed with WE, then it appears that original ICO buyers were diluted 10:1 and Russian government made a backdoor triumph into decentralized space. However, this depends on valuation of respective coins during "interoperability" phase or if the price such as issuance fee, trading fee and mass transfer fee will be different for these chains. If the price of WE's 1 billion supply is 0.003 and this is the same as waves 100 million at 0.003 for a mass transfer, then it is truly diluted. But if WE must reference waves per market cap ratio it is more fair. If WE has a market cap of 1 billion with 1 billion tokens ($1) and Waves market cap is $10 billion ($100 on 100 million supply), it means that WE tokens (old VST) are only 1/10 usefulness (0.003 waves is 0.03 WE x10 more because market cap is x10 higher). This is only relevant for Waves project chains because Ethereums Smart contract technology will never be accessible with Waves Tokens who power another concept of smart contracts called RIDE. But, both WE and native Waves use RIDE as far as I understand it, so they are much more similar and the risk of value erosion from USP loss is much greater, and the risk of becoming centralized and permission based is almost guaranteed because all the big wealth is state owned. Only small indie projects launch decentralized after ICO boom and subsequent failure.
The ICO boom of 2017 failed because tokens were not backed by state controlled infrastructure and regulation. Sovereign nations of course had no reason to be late in this game and get latecomer ownership share, because they already own everything that decentralized market tried to conquer and the top 5 did not scale, so now this centralized scenario will unfold in 2020's.
If BTC and ETH had scaled in 2017, the future would be more free and different, but even if Ethereums world brain would spring into life, the patents for machines (androids) are already owned by state controlled business like google, boston dynamics, DARPA and so on. Ethereum only had a software solution but it is not enough because there is no advanced 3d printing to create robots and even experts like HONDA can't do it properly yet, so decentralized community was far behind.
I think Censorship permitting Enterprise tokens like WEST and Tokenomica can increase in value by operating similar to NASDAQ. But this value is a few billion dollars at most over many years because its competition is establishment global indexes that already has all the clients in fortune 500...
The situation that is developing, is that native Waves will become marginally useful and more of an appendix to centralized index coins. Because Waves userbase does not own any means of production, infrastructure, organizational leadership and experience, top 1% of global wealth etc. Waves users are early investors not engines of civilization.
There are no merchant partnerships with native waves and low growth of mainstream users. But it is relevant and powerful because it is decentralized and it was distributed before this new phase of crypto growth, so it can not be controlled. But the market demand for decentralization appears very small compared to fortune 500 demand. Perhaps things must become more suppressive before decentralization will be popular again.
Native waves can do many things to increase revenue for the owners today, but most likely there is no company with serious IP who will use decentralized tech and give up value to random users, if they now have the option to clone existing business model using crypto tech. So many years have passed, that they now have this option. They are beginning to understand the technology, they are not stupid and of course can reverse engineer of bribe devs, soon Blizzard, and Fortune 500 will have its own blockchain department. The former libertarian devs will then be servants to the old dynastic ruling elite once more. It was an illusion of escape in 2017. They will be rich together with the masters, all else is status quo.
I have said it many times, this is worse than medieval society because control matrix is global and real time. Normal people never see this side of the world, it is illusion of freedom for serf class, family, $100k job, car, house, vacation, small portfolio of retirement savings. People need protection because they get ripped off by others who are smarter. It is too complex technologically, people simply cannot program bank level security.
They say government keep 20 year tech gap between public and military, but in reality they are thousands of years ahead. Put 99% of people in the forest and come back after a few years, it will be stone age civilization.
