When the Economist (The publication most favoured by establishment politicians) finally begins to publish authentic and up to date information about crypto you know big things are about to happen.

Cryptocoins are proliferating wildly. What are they all for? from TheEconomist

You may have to be a subscriber to view this article so I’ll link in the Ethereum segment.

“The threat comes instead from currencies with nimbler blockchains that can do more than record payments. Ethereum, which hosts ether, the second-most-valuable cryptocurrency, can execute automated programmes that, for example, move money between wallets only after a specific event. Ether and its clones have become central to the budding field of decentralised finance (DeFi), where “smart contracts” replicate sophisticated financial transactions, such as making loans or offering insurance, without a trusted intermediary. That is boosting adoption. Over the past 12 months DeFi drove 40% of ether transactions, up from 7% in the previous period, reckons Chainalysis, a data firm.

With around $59bn in capital deposited in its applications, DeFi remains small. But it is growing fast, and bitcoin, with a blockchain that cannot accommodate smart contracts, is ill-equipped to ride the wave. Its first-mover advantage and scarcity make bitcoin likely to remain attractive as a speculative asset. Yet that could prove poor consolation. “

For a neoliberal publication which I do read (more for their geo-political analysis) they have never written much about crypto - and when they have it’s been at best woefully conservative and doubt ridden and at times just completely wrong.

A shift in this regard for a publication like the economist is big - especially as their audience is traditionally your old white men nay-sayers types.