It’s no great shock to say Australia’s economy is battling. It doesn’t help that the resources boom is over. It doesn’t help that the government is in shambles. It doesn’t help that people struggle to see what opportunities are coming.
The question on everyone’s lips is, what’s next? Is there even a next? What does the economic future of Australia look like?
Well, the good news is there’s another opportunity in the making. An opportunity I think could rival the resources boom.
This next great boom could be hard for people to understand. It’s certainly going to be risky. In fact, it could be one of the riskiest opportunities ever. But it might just create untold wealth.
I am talking about cryptocurrency and cryptoassets.
Now, we will admit this is new for most. It’s not an area you can just pick up expertise in overnight.
We’ve spent over seven years researching this opportunity. It’s definitely not something to throw yourself into blindly.
You need expert, experienced, credible advice. And that’s why we recently launched a crypto specific investment service. You can find out all about it here.
The fundamental flaw in mainstream bitcoin analysis
We know you will hear a lot of scary stories about cryptocurrency.
The mainstream media will call it a bubble. Some will liken it to the ‘Tulip Mania’ of Holland in the 1630s. You’ll hear people calling it a pyramid scheme. You will hear of scams and fraud.
In some cases, it’s true. But most is uneducated commentary. We can’t fault people for comparing it to what they know from the past. But to do so is wrong.
Look at the price of bitcoin for instance. Now compare it to other boom-busts like the dot-com boom of the 90s. Looking at it that way, it’s hard not to think bitcoin is in a ‘bubble’.
But there’s a fundamental flaw in these arguments.
You may as well argue that tennis and rowing are the same sport. Or go join those ‘flat earth’ nutters.
The key to what’s going on is that we’re in the early stages of a revolution. A financial and social revolution. But to understand this idea, you have to have a long view on crypto.
And with that long view you can see the wonderful opportunities that present themselves. Not only do these opportunities open the door to possible wealth, but also far more power in how your world operates. That’s something that centralised governments simply don’t allow you to have.
Australia is host to some exciting crypto developments. There are more projects with global appeal popping up every day to help drive this revolution.
Now, a big warning. Not all projects are great. Some are rubbish. Some will try to fleece you of your money. And you should not throw money into crypto projects blindly, without the right analysis and advice. Do not jump on the hype of crypto — be smart, savvy and patient.
Remember this is a long term view, not a short one.
A slow burn that’s about to ignite
Australia has a deep pool of smart, innovative people. We have an excellent education system. We produce some of the world’s smartest people.
And many of these people are starting to develop crypto projects in Australia.
For example there’s a project based in Perth you might have heard about, Powerledger. Powerledger is developing a peer-to-peer (P2P) energy-trading platform.
That will allow people to generate energy and using Powerledger’s blockchain technology trade their energy into the marketplace, to other users, with a crypto token. As the company puts it,
‘Power Ledger puts the power to manage the energy economy into the hands of consumers, while maintaining the value of existing distribution networks.’
At the time of writing they just finished a cryptocurrency token pre-sale. They sold off 100 million ‘POWR’ tokens, raising US$8.8 million. This was achieved in just over three days. The funds will help the project move forward, and power the platform they’re building. They’re also launching a public token sale soon to sell another 160 million tokens over a four week period.
Their core idea of being able to decentralise energy to people is incredibly powerful. It could be a game changer in energy markets around the world.
Another Aussie crypto project is The Hut34 Project.
Hut34 has some incredibly innovative people developing a distributed, decentralised system for ‘smart’ chatbots.
You might have come across chatbots before. Many companies and social sites are using them to communicate with people better. They can often respond to customer queries so well that they’re mistaken for human. Facebook uses them all the time in Messenger — if you haven’t seen one in action, ask around.
Hut34 is building a distributed network infrastructure using blockchain to connect chatbots all over the world. This connective network, if widely distributed, is designed to create a form of artificial intelligence.
Think about it like this: you’re talking to a weather chatbot online. You ask it what is the weather going to be like tomorrow. It gives you incredibly detailed, accurate weather information. But then you ask it for the best user-rated pub close to your friend’s house, who you’re visiting tomorrow.
This is a weather chatbot. How is it supposed to know the answer to that?
Well, using Hut34’s network the weather-bot can communicate to a ‘pub bot’, and perhaps a ‘maps bot’, pulling in the specific information you need.
In order to get the info, however, the weather bot might pay a micro-transaction fee to those other bots’ developers. That fee is paid in Hut34’s native crypto token.
If you think about a mass, widespread network of thousands, perhaps millions of chatbots communicating with each other instantly, then you’re really talking about artificial intelligence. It’s like one giant neural network — a giant global brain.
It’s incredibly advanced, innovative stuff. And the potential applications are huge. And Hut34 is a project in Australia, by Australians, developing world class technologies.
I’ve already gone on too long, but it’s hard not to get incredibly excited when you see home-grown advances like these. And these are just two. There are more, which we’ll bring to your attention in the coming weeks and months.
Projects like Powerledger and Hut34 give us hope. Hope that Australia might again see another boom. But this next boom will be a blockchain boom, a crypto boom.
And it could make a lot of everyday Aussie investors a truckload of money.
Editor, Secret Crypto Network