Cryptokitties

Screen Shot 2017-12-08 at 10.29.39 AMCryptokitties is an early demonstration of the ability of cryptocurrency, in this case, Ethereum, to allow two persons, completely unknown to one another, to trade valuable possessions without the fear of being ripped off.  Using cryptocurrency ensures that their trade is bona fide and that they actually receive what is promised to them.  Imagine meeting a complete stranger, and accepting $500 as payment for something of value which you then hand over to him, comfortable that the entire transaction is safe and sound?  Pretty good, huh? People are buying and selling Cryptokitties worth hundreds of dollars doing just that.  It’s terrific. Your opinion of Cryptokitties is not relevant here.  Granted, not everyone loves Cryptokitties or thinks they are worthwhile.

The Cryptokitties website allows participants to buy, sell, collect, trade, and breed Cryptokitties.  They are adorable and sure to be a huge sensation.  Even now the site has taken 4% of the Ethereum network and caused huge delays as interest is fierce and commerce brisk.  To economists and Crypto enthusiasts alike Cryptokitties shows us the power and promise of blockchain technology to transform the wild, wild west aspects of the world wide web into stable trade platforms in the future.