DBS

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestAdmin

#Ethereum Pro-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Copying from my [previous entry](https://np.reddit.com/r/CryptoCurrency/comments/og1is6/rcryptocurrency_cointest_top_10_category_ethereum/h4j6uap/). Per the [Cointest rules](https://old.reddit.com/r/CryptoCurrency/wiki/cointest_policy#wiki_rules), this is my third and last time presenting the argument. > > *Disclosure - I currently hold a position in ETH, ~53% of my current portfolio value* > > #`Part 1/2` > > #**What is Ethereum even** > > - The digital gold narrative of Bitcoin is easy to grok - it's scarce like gold, gold is valuable, BTC is valuable > > - The value proposition for Ethereum is a bit harder to wrap one's head around. It has often been described as a 'world computer' given [the tagline](https://ethereum.org/en/whitepaper/) of a "[smart contract](https://academy.binance.com/en/articles/what-are-smart-contracts) and [decentralized application](https://academy.binance.com/en/glossary/decentralized-application) platform" > > - But as [narratives shift](https://miro.medium.com/1*ZpdeufZXonF4IXP3NI9ssg.png), it may make more sense to now consider Ethereum as a *world economy* vs. a world computer - an economy with ETH as its native currency. > > - [JP Morgan recently described ETH as "the backbone of the crypto-native economy"](https://twitter.com/santiagoroel/status/1387417522777956354/photo/1) > > > - Ethereum has also been described as the "[foundation for building an alternative Internet-based financial system](https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money)" > > - In 2020, [Ethereum processed $874 billion worth of dollar payments](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy), rivaling major consumer-facing systems like Zelle ($307 billion) and Paypal ($963 billion). In [Q1 2021 Ethereum settled $1.5 trillion in transactions](https://twitter.com/RyanWatkins_/status/1384676842045681664). > > - The gravitational pull of this 'Ethereum economy' is now attracting traditional/legacy financial actors: > > - [Visa rolls out settlement in USDC via the Ethereum blockchain](https://usa.visa.com/visa-everywhere/blog/bdp/2021/03/26/digital-currency-comes-1616782388876.html) > > - [The European Investment Bank issues a digital bond on the Ethereum blockchain](https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain) > > - [DBS, J.P. Morgan and Temasek establish a platform to transform interbank value movements](https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform) > > #**Ethereum as the Internet of Value** > > - Well it's great that the Ethereum blockchain is processing transactions and moving value around, but why would that make ETH itself attractive or valuable? Isn't that what the existing financial system does already? > > - As a programmable blockchain, "[Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you](https://ethereum.org/en/what-is-ethereum/)" > > - If we think about the Internet, it relies on [different layers and protocols to function](https://cdn.substack.com/image/fetch/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb85f7f-b5ed-4b6f-a0ee-5fb62b536c6d_2304x1288.png). However - for the end user - the *application layer* is the most meaningful for adding value to our day to day lives. > > - [In a similar fashion](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc1e44105-0aec-403a-b88f-ed0fae50b0a7_1910x1284.png), the ecosystem of [dApps](https://ethereum.org/en/dapps/), [DeFi protocols](https://defipulse.com/), [DAOs](https://open-orgs.info/), and [NFTs](https://dappradar.com/nft/marketplaces) that are [underpinned by Ethereum](https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9ccd86ce-9180-4cf7-ab25-566147eb34bb_1250x856.png) hold tremendous value. > > - To take one example, [DeFi](https://academy.binance.com/en/articles/the-complete-beginners-guide-to-decentralized-finance-defi) seeks to increase "[the efficiency, transparency, and accessibility of the financial infrastructure. Moreover, the system's composability allows anyone to combine multiple applications and protocols, thereby creating new and exciting services](https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets)". The value of these new and exciting services are clear, with [over $100B locked](https://defipulse.com/) at the time of writing and increasing rapidly. > > - Another crucial aspect of Ethereum as an 'Internet of Value' is the blockchain's usage as a settlement layer for *other* assets besides ETH > > - “Tokenization” and the [ERC20 standard](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) lets anyone create an asset with digital scarcity. > > - The absolute number of tokens built on Ethereum and their combined marketcap [far outpace any other blockchain](https://files.stlouisfed.org/files/htdocs/publications/images/uploads/2021/Sch21Q2Table1_20210205034434.jpg). The total market cap of the biggest ERC-20 tokens issued on top of the Ethereum blockchain rose [to more than $250 billion in March 2021](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - As of February 2021, the total value of [stablecoins](https://ethereum.org/en/stablecoins/) on the Ethereum blockchain [surpassed $30 billion](https://www.coinbase.com/learn/market-updates/deep-dive-ethereum-economy) > > - Even other assets like BTC can be deployed on Ethereum - currently [$11.9B worth of BTC 'lives' on Ethereum > ](https://btconethereum.com/) > > #**Enterprise adoption** > > - Given it's functionality as a programmable blockchain, it's no surprise that there's substantial corporate interest from organizations looking to build on Ethereum. > > - For example, companies that have joined the [Ethereum Enterprise Alliance](https://entethalliance.org/) include: AMD, NY Mellon, Santander, Dell, Ernst & Young, Fedex, Intel, JP Morgan Chase Bank, Microsoft, Pacific Gas & Electric, and SAP. > > - [Microsoft won a Gartner Supply Chain Breakthrough of the Year award in 2021 for their e2e item traceability solution built on Ethereum](https://www.gartner.com/en/newsroom/press-releases/2021-03-18-gartner-announces-supply-chain-winners-of-the-2021-power-of-the-profession-award) > > - [JP Morgan is experimenting with blockchain payments in space](https://www.jpmorgan.com/onyx/payments-in-space.htm) > > - [EY's Baseline protocol uses the Ethereum mainnet to automate business processes](https://docs.baseline-protocol.org/) across companies with private ledgers and databases > > > - Meanwhile the city of [Miami is exploring ways to utilize Ethereum to optimize city services](https://www.theblockcrypto.com/post/100647/miami-ethereum-city-services-blockchain) > > - Even [Reddit partnered with the Ethereum Foundation](https://www.np.com/r/ethereum/comments/l6c3kx/reddit_announces_partnership_with_the_ethereum/) to develop [community points](https://www.kraken.com/en-us/learn/what-is-reddit-moon) (like those [moons we know and love](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki)) ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz43zr/rcc_cointest_top_10_ethereum_proarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.