The launch of Maxcoin

This brings us nicely to possibly the biggest development in the crypto space for some time. The launch of Maxcoin, the cryptocurrency fronted by Max Keiser. This was probably one of the few success stories of the last week. For many of us non techno-heads, we failed to see the point of yet another crypto-coin. Those of us who follow and comment on monetary matters are often approached with new currencies, rarely do we see the potential in them as they come with little legacy and little else to offer that others don’t already.

However, once I sat down with Stacy Herbert and heard about the unbelievable effort and technical development that was going into Maxcoin I felt reassured that this would certainly break free from the herd of teenage geek developed crypto-currencies. Whilst I didn’t understand the majority of the technical details in Maxcoin, I was impressed at how much has been learnt from bitcoin’s flaws. These have been considered in the Maxcoin design and (to a simple geek like me) have apparently set it up as a serious contender.

Once again, there has been little talk of price in the Maxcoin community. Instead it has been about the possibilities that can arise from the currency. As with bitcoin, its ability to act as a public ledger, how the block chain can be used, how it can decentralize the internet and the financial system and (my favourite) how decentralized autonomous corporations can operate.

These new developments take crypto-currencies beyond the flash-in-the-pan, quirky and counter cultural news stories. The cryptos are undergoing significant maturations at this point. Rapid and global creative destruction is occurring in the monetary world, right in front of our eyes. Don’t blink or you’ll miss the action.

http://therealasset.co.uk/bitcoin-maxcoin/