The cryptic world of cryptocurrency | Opinion

I’m amazed by those who scale cliffs or urban monuments without ropes.

Just because something’s fascinating or amazing, it doesn’t mean I’d want such feats done on the Macdonough Monument. I feel the same concern and ambivalence about the cryptocurrency industry.

That’s not to say the burgeoning industry is not helping to foster an innovative new technology.

In our lifetime, we’ll be using cryptographically secured currencies for common transactions.

Already, the share of transactions denominated in cash has dropped dramatically, except among criminals. Soon, cash will be used for little more than keeping count of deposits in our bank accounts. Most transactions will be electronic.

When that occurs, banking institutions, and perhaps a vast network of decentralized and democratized cryptocurrency miners, will have determined how to transact electronically, instantaneously,…