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Musings from a crypto learner

I am trying to understand where Cardano fits into the digital currency landscape, dynamic as it is.
Firstly, I believe that a digital blockchain currency is the future and that the current crisis will expedite that happening. To substantiate that assertion, just look at the example of Venezuela and the rapid adoption by the broader community there towards digital currency. 1
So the eventual adoption of a digital global currency is inevitable. I do not think the path will be smooth, the impending financial collapse of major economies looming could do more harm then good for the transition to a de-centralised money.2 I consider bitcoin as a digital money alpha software, a great proof of concept but too limited to be a currency replacement in its current form. This alpha concept has ignited the development of many alternatives, alt coins, and the competitive free market economy will see the eventual best choice gain mass adoption (I hope). Of course we will see governments try and retain power and control by legislation which will distort the development and adoption of digital currency in much the same way we see the central banks manipulating the free markets leading up to this mess.
From what I have read about the philosophy of Cardano I think it has great potential. Digital currency (software) fundamentally comes down to a good code base and devops structure to plan for the future which seems to have been implemented well from the start, as well as planning to support the constant development of the code. Global Finance is complicated, and I see more involved then just clean code. Ripple seems to be doing a good job of forming partnerships with the global financial community and as much as I do not want to see a centralised commercial digital currency be adopted, I think XRP will be one of the digital currencies to be adopted - for a while.
Ethereum has the momentum of greatest adoption so far, and I think cardano will struggle to shift development of smart contracts from the ethereum blockchain. The (smooth) release of the shelly main net now, while Eth2.0 release gets pushed back further will help a lot. If the implementation of Eth2.0 has issues, it could be enough to make people switch to cardano, but at the moment I think they are still developing with the intent of Eth2.0.
So the near future of digital currency will be many competing blockchains as the free market competition causes varying levels of adoption globally. Cardano's strength then, could be intra-blockchain communication. The planned co-operation with the litecoin blockchain will be very interesting. A blockchain that enables the easy transfer of digital assets from one to another. Makes me think how exchanges must do it now, having to run at least one node of each digital currency they service must be a logistical pain - good for the future of us sysadmins though =)
Anyway, enough late night ramblings. I like the cardano philosophy, I hope it succeeds, good open source code is a great start but adoption involves so many complicated factors.
All this is just IMHO. Please discuss.

submitted by R3DD1T_Mick to cardano [link] [comments]

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