SAP

MinimalGravitas

> it's never going to happen. Oh my sweet little newbie, it's already happening. Below is a list of mainstream adoption of Ethereum from just the last 3 months. We all get that you love your pet rock, but lets be real, all it does it get bought by Michael Saylor. No one uses the network for anything... On the other hand here are some examples of what has been built on Ethereum recently: * Nov 14 - **Franklin Templeton** FOBXX Fund, BENJI Token (Mainnet) * Nov 13 - **BlackRock** BUIDL Fund (Arbitrum, Optimism) * Nov 4 - **Robinhood** USDG Stablecoin (Mainnet) * Nov 4 - **Citi** CIDAP Platform (Mainnet) * Nov 1 - **UBS** uMINT Fund (Mainnet) * Oct 31 - **Franklin Templeton** FOBXX Fund, BENJI Token (Base) * Oct 28 - **RD Technologoes** Hong Kong Stablecoin HKDR (Mainnet) * Oct 22 - **Buenos Aires Digital Identity** (ZKsync) * Oct 21 - **Stripe** Bridge * Oct 3 - **SAP** Digital Currency Hub * Oct 2 - **Christie**’s Ownership Certificates (Base) * Sept 25 - **PayPal** Ethereum Trading & External Transfers For Businesses * Sept 25 - **Visa** VTAP RWA Platform * Sept 18 - **WisdomTree** RWA Platform (Mainnet) * Sept 18 - **Google** RPC Service * Sept 12 - **EVE MMO** Onchain Apps (Redstone) * Sept 10 - **PayPal** ENS Integration (Mainnet) * Sept 10 - **Venmo** ENS Integration (Mainnet) [shamelessly copied from https://ethereumadoption.com/ - all links/references available there]

MinimalGravitas

Below is a list of mainstream adoption of Ethereum from just the last 3 months. We all get that you love your pet rock, but lets be real, all it does it get bought by Michael Saylor. No one uses the network for anything... on the other hand here are some examples of what has been built on Ethereum recently: * Nov 14 - **Franklin Templeton** FOBXX Fund, BENJI Token (Mainnet) * Nov 13 - **BlackRock** BUIDL Fund (Arbitrum, Optimism) * Nov 4 - **Robinhood** USDG Stablecoin (Mainnet) * Nov 4 - **Citi** CIDAP Platform (Mainnet) * Nov 1 - **UBS** uMINT Fund (Mainnet) * Oct 31 - **Franklin Templeton** FOBXX Fund, BENJI Token (Base) * Oct 28 - **RD Technologoes** Hong Kong Stablecoin HKDR (Mainnet) * Oct 22 - **Buenos Aires Digital Identity** (ZKsync) * Oct 21 - **Stripe** Bridge * Oct 3 - **SAP** Digital Currency Hub * Oct 2 - **Christie**’s Ownership Certificates (Base) * Sept 25 - **PayPal** Ethereum Trading & External Transfers For Businesses * Sept 25 - **Visa** VTAP RWA Platform * Sept 18 - **WisdomTree** RWA Platform (Mainnet) * Sept 18 - **Google** RPC Service * Sept 12 - **EVE MMO** Onchain Apps (Redstone) * Sept 10 - **PayPal** ENS Integration (Mainnet) * Sept 10 - **Venmo** ENS Integration (Mainnet) [shamelessly copied from https://ethereumadoption.com/ - all links/references available there] How long before people are buying BTC ETFs that run on Ethereum do you think? Because we've already got billions of dollars worth of tokenized bonds, treasuries, commodities etc. Bitcoin might well be digital gold, but gold makes up a tiny fraction of the world's financial system... and everything else will be running on Ethereum.

MinimalGravitas

The amount of mainstream adoption by huge companies like Blackrock, Visa and Sony is almost too much to keep up with. Just from the last 3 months... * Nov 14 - **Franklin Templeton** FOBXX Fund, BENJI Token (Mainnet) * Nov 13 - **BlackRock** BUIDL Fund (Arbitrum, Optimism) * Nov 4 - **Robinhood** USDG Stablecoin (Mainnet) * Nov 4 - **Citi** CIDAP Platform (Mainnet) * Nov 1 - **UBS** uMINT Fund (Mainnet) * Oct 31 - **Franklin Templeton** FOBXX Fund, BENJI Token (Base) * Oct 28 - **RD Technologoes** Hong Kong Stablecoin HKDR (Mainnet) * Oct 22 - **Buenos Aires Digital Identity** (ZKsync) * Oct 21 - **Stripe** Bridge * Oct 3 - **SAP** Digital Currency Hub * Oct 2 - **Christie**’s Ownership Certificates (Base) * Sept 25 - **PayPal** Ethereum Trading & External Transfers For Businesses * Sept 25 - **Visa** VTAP RWA Platform * Sept 18 - **WisdomTree** RWA Platform (Mainnet) * Sept 18 - **Google** RPC Service * Sept 12 - **EVE MMO** Onchain Apps (Redstone) * Sept 10 - **PayPal** ENS Integration (Mainnet) * Sept 10 - **Venmo** ENS Integration (Mainnet) [shamelessly copied from https://ethereumadoption.com/ - all links/references available these]

MinimalGravitas

What a wild take... > World moving on from ETH, In reality the amount of mainstream adoption by huge companies like Blackrock, Visa and Sony is almost too much to keep up with. Just from the last 3 months... * Nov 14 - **Franklin Templeton** FOBXX Fund, BENJI Token (Mainnet) * Nov 13 - **BlackRock** BUIDL Fund (Arbitrum, Optimism) * Nov 4 - **Robinhood** USDG Stablecoin (Mainnet) * Nov 4 - **Citi** CIDAP Platform (Mainnet) * Nov 1 - **UBS** uMINT Fund (Mainnet) * Oct 31 - **Franklin Templeton** FOBXX Fund, BENJI Token (Base) * Oct 28 - **RD Technologoes** Hong Kong Stablecoin HKDR (Mainnet) * Oct 22 - **Buenos Aires Digital Identity** (ZKsync) * Oct 21 - **Stripe** Bridge * Oct 3 - **SAP** Digital Currency Hub * Oct 2 - **Christie**’s Ownership Certificates (Base) * Sept 25 - **PayPal** Ethereum Trading & External Transfers For Businesses * Sept 25 - **Visa** VTAP RWA Platform * Sept 18 - **WisdomTree** RWA Platform (Mainnet) * Sept 18 - **Google** RPC Service * Sept 12 - **EVE MMO** Onchain Apps (Redstone) * Sept 10 - **PayPal** ENS Integration (Mainnet) * Sept 10 - **Venmo** ENS Integration (Mainnet) [shamelessly copied from https://ethereumadoption.com/ - all links/references available these]

intelw1zard

but does MicroStrategy even really do the bulk of their biz in regards to crypto? They are seemingly some SAP type company atm w traditional biz with traditional corporations.

MinimalGravitas

> What are results of this project? Endless list of useless projects/worthless projects or just plain scams. Substratum, Enigma, Gifto, CargoX, Wabi, Populous, Internxt, Salt, Waltonchain, etc just no name a few. You've cherry picked a bunch of crappy projects, but we could equally look at a list of mainstream adoption by huge companies like Blackrock, Visa and Sony. Just from the last 3 months... * Nov 14 - **Franklin Templeton** FOBXX Fund, BENJI Token (Mainnet) * Nov 13 - **BlackRock** BUIDL Fund (Arbitrum, Optimism) * Nov 4 - **Robinhood** USDG Stablecoin (Mainnet) * Nov 4 - **Citi** CIDAP Platform (Mainnet) * Nov 1 - **UBS** uMINT Fund (Mainnet) * Oct 31 - **Franklin Templeton** FOBXX Fund, BENJI Token (Base) * Oct 28 - **RD Technologoes** Hong Kong Stablecoin HKDR (Mainnet) * Oct 22 - **Buenos Aires Digital Identity** (ZKsync) * Oct 21 - **Stripe** Bridge * Oct 3 - **SAP** Digital Currency Hub * Oct 2 - **Christie**’s Ownership Certificates (Base) * Sept 25 - **PayPal** Ethereum Trading & External Transfers For Businesses * Sept 25 - **Visa** VTAP RWA Platform * Sept 18 - **WisdomTree** RWA Platform (Mainnet) * Sept 18 - **Google** RPC Service * Sept 12 - **EVE MMO** Onchain Apps (Redstone) * Sept 10 - **PayPal** ENS Integration (Mainnet) * Sept 10 - **Venmo** ENS Integration (Mainnet) [shamelessly copied from https://ethereumadoption.com/ - all links/references available these] The people building the future financial system are doing so on Ethereum, and if you want to use Ethereum, the ticker is ETH.

epic_trader

>why isnt this reflected in price? How do we know it's not? Crypto moves in burst/bust cycles and right now we're pretty far from the top, but ETH is "just" 40% from its peak. Plus right now BTC is stealing the limelight with its ATH and tradfi beginning to open their eyes to this new asset class. Right now blockspace is abundant on Ethereum, so it's very cheap to use the network. In spite of what most people claim around here (likely cause they've made 0 transactions on the network) you can send ETH on L2 for under $0.001. Blob space (which is where L2s submit their data) isn't yet saturated so it's essentially free, plus it will be expanded soon to offer even more cheap scaling. I have no idea what you do in tradfi, but if you're doing anything related to payments or supply chain or incident management or digital identity I'd be surprised if you didn't hear of Ethereum, but then it's probably just a matter of time. Check out the list of Enterprise Ethereum Alliance: https://entethalliance.org/eea-members/ In recent news, SAP has trialed on-chain transactions using PayPals stablecoin on Ethereum. It's a little funny because everyone are acting like "okay but what if tradfi comes" but they don't realize tradfi is building the infrastructure on Ethereum right now.

z74al

How is him pretending to deepthroat a microphone growing up? [https://youtube.com/shorts/Xtj183SAP4I?si=hmX4tZ2YEvkz4v8M](https://youtube.com/shorts/Xtj183SAP4I?si=hmX4tZ2YEvkz4v8M)

iwishiremember

BTC (real), gold and SAP500 is diversified strategy for me with BTC being about 2/3 now.

coinfeeds-bot

tldr; PayPal completed its first business transaction using its stablecoin, PYUSD, by paying Ernst & Young through SAP’s digital currency platform. This move highlights the efficiency of stablecoin payments in speeding up cross-border transactions by eliminating third-party delays. PYUSD, pegged to the US dollar, has a market cap of $700 million and is increasingly adopted for reliable business transactions. PayPal's senior VP emphasized the suitability of stablecoins for B2B transactions, offering a rational choice for CFOs. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

swift_trout

The company manage information risk for is a $2.5 billion revenue hat operates or has managed projects in over 100 countries globally . We have been a client of MicroStrategy for almost two decades. We are also clients of SAP, Oracle and Microsoft as well. In my experience MicroStrategy has been useful. Your experience sounds different. Have you worked with them on projects?

swift_trout

I built my first computer when I was 15 growing up in Texas. A Tandy Model One sold through Radio Shack that had a course from Heathkit. I even put together a kit from the boys from Cupertino. It was a very different time. Few people outside our Byte circles had any idea of the hell we were doing to their world. I have lived through and managed to stay relevant in all the eras of change. It is a testimony to the survival ability that is intrinsic to being a first generation “nerd”. Back in the 70s and 80s, and most of the 90s fintech was proprietary centralized systems legacy systems. Like all the other systems like travel electronic reservation ticketing systems (ERTS), accounting, payroll and all other platforms, on mainframes. We micro computer folks felt like a mammal roaming around among dinosaurs. But we knew the meteor was coming.it hit in the 1990s. In the Air Force I had worked with file transfer protocols (ftp). Anyone who had absolutely knew it was going to change everything. I specialized in applications that integrated PC LANS. Simply migrating data to PC NETWORKS (Novell Netware and eventually Microsoft.Net.) and attaching front ends applications I wrote to carry out functions already pretty much defined on the legacy terminals. It was not difficult. I “wrote” (copied) procurement systems - I was Director of Information Systems at a petrochemical engineering company. And travel systems for the Scheduled Airline Ticketing Organization - SATO. And finance systems using SAP at KPMG - my main focus was banking, our clients included British Midland (now HSBC) m, Standard Charter, Citi and about 5 others. And I worked on NASD compliant trading systems, as well for a clearing brocket out of Belgium. And facilitated Wang’s departure from and divestiture in South Africa. The first really big democratizing sea change in difí was the shift from branches to ATM operations. I think of that era as the first wave of distributed finance. And then the internet changed everything. And now millenials have taken everything to a whole nutha level. And now nerds of the new millennium are going way beyond us and completing the dream of every real hacker nerd from the 70s - using technology to actually fix social problems. Bitcoin is a technological solution that fixes the money. And honestly if we fix the money we can fix almost everything. Let’s move on to THE ENVIRONMENT. And SOCIAL JUSTICE. I am so damned proud of this generation.

1Tim1_15

He didn't say he wouldn't veto it. He said: "H.R. 4763 **in its current form** lacks sufficient protections for consumers and investors who engage in certain digital asset transactions." (emphasis added) That means he is going to try to change it, and given his history, this means it will not be as friendly to crypto as the bill in its current form. If the waters weren't muddy enough, Biden did say he would veto a [separate but similar bil](https://www.whitehouse.gov/wp-content/uploads/2024/05/SAP-HJRes109.pdf)l. So, nothing has changed. He's still anti-crypto.

Generic_Globe

The Trump years crypto was pretty much untouched except for XRP. Biden has made Gary s mission to attack crypto at every turn. He even threatened to veto HJ Resolution 109. Not to forget Biden wants to tax unrealized gains at 40%. [SAP-HJRes109.pdf (whitehouse.gov)](https://www.whitehouse.gov/wp-content/uploads/2024/05/SAP-HJRes109.pdf) [Biden’s tax on unrealized gains will hit far more taxpayers than he claims | The Hill](https://thehill.com/opinion/finance/3487486-bidens-tax-on-unrealized-gains-will-hit-far-more-taxpayers-than-he-claims/) There is a laundry list of issues to consider before you vote but Biden is definitely a threat to crypto investors and investors in general.

WanderingontheRoad

Morpheus Network is working with Google, certified and promoted by SAP and Coca-Cola utilizes MNW's platform to enhance their supply chain. They also work with a number of other major enterprises like FCL CO-OP in Canada, MARSH global insurance, government agencies like SENASA in Brazil and major world ports owned and operated by industry giants like Gulftainer. They have a team of 40+ and their platform has been in development for 6+ years. The platform utilizes AI, Machine Learning andDePin with IoT devices to track RWA for customers around the world. The MNW token has fantastic tokenomics and they offer token holders the right to operate transaction revenue sharing nodes that decentralized the platform. Currently the nodes are in beta and pay 18 percent APR. Production is scheduled to go live by June of this year. I'm not aware of better fundamentals for any other AI, DePin or RWA project.

BagHolder9001

it was with the market expected hence it felt a safe investment in a 500 SAP in the dick

likwitsnake

You use an Enterprise app like Workday, SAP, Microsoft Dynamics, Oracle

Zippyvinman

For enterprise crypto - TaxBit, Bitwave, Lukka, ZenLedger, a few others. Most along w/ an ERP like mentioned, SAP, Oracle, Netsuite, etc.

bigshooTer39

Enterprise ERP and EPM applications. Most big companies use Oracle or SAP. Everything is going cloud based now. I work with Oracle Fusion Cloud ERP, Oracle HFM, and many other apps daily.

Bucksaway03

Real software fit for purpose such as SAP, Oracle Fusion, Dynamics

zoomercoomer9000

Something like this https://wikipedia.org/wiki/SAP_S/4HANA

Dmoan

They are cut out to be competitive their product was easily best analyst software out there even in 08 but they simply focused on squeezing money from it and didn’t do much to innovative while companies like Tableau (purchased by Salesforce) and BO (purchased by SAP) stole their features and got market share and eventually got big buyouts.

oneletterman

Are you old enough to have been around in 2000/2001? The internet was dead. It was a failed experiment. People were going back to jobs at places like a Oracle and SAP. Amazon stock was $8/share. Probably have another bad year ahead, as we are not at bottom.

TheRicFlairDrip

our financial modules are not strong as strong as the core financial ERPs i agree but we do integrations with Oracle, SAP, SAGE and MD. you are right its a small company employee wise, but we are talking about a company that has billions of dollars in assets, dozens of registered entities around the world doing crypto trading, which is not something standard and would also probably require for the ERP to be integrated with their trading platform, something that the conventional ERPs will not have be default and would need to be tailored for them. Then there is also the other issue of every entity having different taxation rules as well as the accounting methods for the different services that are offered will not be treated the same way. I'm sorry but if you think this can be done in a month or two then I don't know what else to tell you, just the workshops and finalizing the user requirement documents would take more than a month or two.

FordMaverickFan

I work in the Analytics space and it's so bizarre to see articles about MicroStrategy again as they've been completely outclassed by Power BI, Tableau, Qlik and even SAP Analytics Cloud. They're like Yahoo in its last years. The only value left in this company is the investments it made in Bitcoin which is insane to think about.

arcalus

Bullish on DOT, but I really wish these hipster devs would stop trying to come up with acronyms instead of good names. SAP- not that catchy.

_nformant

>Name only 3 big German Software companies! SAP, SUSE and TeamViewer (:

piping_piper

For those who are curious, ATB (a Canadian bank) shared a video of using XRP to transfer money to a German in 2016. Note they were using software called SAP as their end points, I doubt banks want you to mess with the ledgers/wallets themselves, they want it integrated into their services/apps. Google "ATB XRP video" and you'll get lots of hits and articles, choose a source you like. Surprised it didn't pick up more steam already as it seemed like a very positive test.

coinfeeds-bot

tldr; Aon, Oracle, SAP, UKG, and ZipRecruiter have joined the Velocity Network Foundation, an online resume-validating network. The network would enable employers to verify a job candidate’s diplomas, certifications, and work experience almost instantaneously. Employers using HR software can issue verified credentials to employees, who can then access and share that information through a blockchain-based, online ledger. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

HelpMySkinPlease95

City bank disagrees and so does WEF,BIS,ECB,AWS,GCP,SWIFT,BNY,SAP,Oracle and DocuSign to name a few, but you knew that already. 4chan is working hard in all these threads. So far we have $8Quadrillion potential assets to digitalize and guess what? Link nodes are validators. PoS happened to allow LINK nodes to approve ETH blocks. Link controls ETH. Don’t believe me? What happened to ETH PoW after merge? 404, service denied. The psyOp worked but I feel bad for most of you all. Goodluck https://ir.citi.com/_tpHpW8MfaZ1QXwGmP1JGMGXXI95qXm3IMJzUJScLMb6XIjtOls6EbDehXMR3B_o9Opi7mdc5tQ%3D

JesusLiberty

Why is nobody talking about Chainlink? SmartCon is next Wednesday. Eric Schmidt, Sergey Nazarov, SWIFT, DTCC, SAP, Microsoft, and more all speaking/presenting. CCIP, DECO, and staking rumored to launch. What do you think happens to price when the utility token is finally needed for it's utility?

kirtash93

I am sure he works for SAP.

Fun-Highlight568

Which job requires aladin? Even an old investment dude I meet told me they worked with stuff like SAP or Bloomberg but never heard of that.

FordMaverickFan

He was running MicroStrategy. During his tenure MicroStrategy has been essentially removed from the front end analytics market as Tableau, Power BI and even SAP SAC / BOBJ 4.3 have continued to increase their market share. Doesn’t take a rocket scientist to lose a billion dollars that should have been going into the companies R&D

jakekick1999

Devs are hardworking and a bit proud of what they do. Imagine you spend years polishing your sklls in one programming language only for the world to prefer something else entirely. With blockchain, it is worse as the devs are usually alloted a pre minted amount of coins which means you have a large pay day when you can sell your bags. Plus there is the ability for insider trading as well. Overall, it is all about the money and recognition versus the amount of hard work that people do. Happens not just in blockchain devs but others like cloud, SAP, full stack, etc Source : am a dev

puce_moment

Here’s my response point by point: 1- just because a fool puts more money than a house into crypto does not mean putting a house on the blockchain is a good idea. I can forward multiple posts just this week from r/cryptocurrency of people who lost over $50k in their wallets from hacking and they have zero recourse. And you want people to do this with their homes? 2- high end items need NFTs to authenticate: NFTs simply can’t authenticate physical prints because of the Oracle problem. U/AmericanScream sent over this issue that explains why NFTs are useless for authentification: https://youtu.be/YMhtMEf2QPA Please advise your thoughts after seeing this video as this is what supply chain experts have been saying repeatedly. I’m going to post here the fantastic YouTube video that u/Americanscream sent as it explains exactly why authentication of physical goods is NOT possible with NFTs: https://youtu.be/YMhtMEf2QPA Please advise your thoughts after seeing this video as this is what supply chain experts have been saying repeatedly. I’m all for using new tech to improve supply chains. But it has to offer a solution. Just because SAP was relevant and offered great value doesn’t mean NFTs or the blockchain offer value. You need to argue for the specific merits of the blockchain vs referencing another successful technology. 3- You say you know web3 companies that are working with businesses to implement these changes. Can you give successful examples we can investigate? I’d love to see something that is an improvement and would love to be proven wrong. I was just at TechTextile in Germany where suppliers were talking about how blockchain companies were paying them $$$ to talk up how barcodes/qr codes/ rfid chips can be put on items and then uploaded to the blockchain. I asked if any of that was revolutionary/an improvement over what we already can do (put those same barcodes/qr codes/rfid chips on items and then track on a central server) and their responses was exactly as in the video I linked above. Issues of authentication of physical goods still need central or trusted authorities to physically QC goods to insure what is barcoded is actually the right item in good condition in the correct amount, so whether the QR code is on a central server vs blockchain isn’t where the problems of authentication are solved. Here’s a question for you: 1 big issue in consumer verification is that more companies say they sell “organic cotton” items than the amount of organic cotton that is produced in the world. We know some companies are lying abs making unfulfilled promises to consumers. How would blockchain authenticate organic cotton in this scenario in a totally decentralized way?

FuzzyLogick

>NFTs for housing is absurd. If your nft is hacked do you lose your ownership of your home? I mean you could say the same about literally anything else. There are crypto wallets out there that store many times more value than a house. >NFTs for authentication of physical items are heavily overhyped Not really, high end stuff that has high rates of forgery will be able to utilise the technology. >Supply chain would be materially harmed by nfts depending on deployment. This sounds like the same sort of fear about any new technology, but they brought in SAP and that has improved supply chain flow. I also wouldn't be surprised if they could just bring a system in that worked with SAP. >But again crypto folks aren’t actually working with subject matter experts but shoehorning their tech into industries to make a hypothetical use case. Well I know a couple of web3 companies are actually working with businesses to implement solutions. Every case you have mentioned has value to it and honestly with the way things are going it's just a matter of time IMO. If there was no value to them, companies wouldn't be investigating them or partnering with web3 companies. It's already happening.

winstonchill

Indeed! Gov bonds seem to be inverting slightly again and with us inflation numbers being released on Wednesday if they show negative growth for q2 it will mean bad times for stocks and crypto. In anyway I don’t see SAP running higher than 4200 which would likely be the point for the next leg down, dragging crypto with it. Short term could be positive but mid term definitely isn’t in my opinion

winstonchill

2 year and 30 years government bonds no longer invested this week gave a push up for the SAP and stocks as a whole which in turn gave btc a push up past the 20k level it’s been stuck on for a while. The move to 22.5k was anticipated by many as an important level so lost of short term long positions adding to the volume here. In general markets are looking good as it’s looking like the Q2 Us inflation report may turn slightly positive for now so we’re facing a little bear market rally. Happy to be corrected if anyone thinks I’m wrong

winstonchill

Great research and conclusions albeit a little biased. Crypto has never seen a recession and the effect it will have on the markets may just be extreme as crypto is considered a high risk asset. If people can’t pay their mortgages and loose their jobs they will without doubt sell their crypto. Investment funds always play the same game and they’re ofocurse more prepared to buy while pushing the market down. Reminds me of JP Morgan time in 2017 publicly bashing crypto while a team was buying at the exact same time. Sneaky people for sure but with money there’s always greed. My fear is that what’s coming will affect every market and cause a lot of pain and loss for the majority but atleast when the dust settles there will be some incredible buying opportunities so I’ll at least make sure I have some cash on the side for the right time. It doesn’t mean btc can’t have another bear run alongside the SAP but I doubt it will last long and 36k is slightly ridiculous at this point

notyourbroguy

Algorand. The Italian copyrights body uses it, Nigeria is using it for their IP, El Salvador uses it to move BTC between banks, olive oil producers in Italy use it to reduce counterfeit product, Steve Irwin’s son just did a very successful fundraiser for wildlife conservation with Croc NFTs, FIFA is building on it for the upcoming World Cup and other use cases, tZero allows you to trade stocks on Algorand, it’s integrated with major enterprise systems like SAP, it’s used in Europe for notarized documents, used in Colombia for vaccine documentation, honestly I could go on and on with real world utility and it’s just getting started with only 3 years of mainnet but 0 downtime and faster than even Solana with instant, 1 block finality in 4 seconds whereas SOL needs 32 blocks for confirmation.

winstonchill

Lol With the SAP looking the way it is and impending global recession I think a bull run is about as much chance as me banging Michele Obama

Winmik84

I can understand your concern, but you have to consider that the IOTA Foundation is developing something completely new from the ground up. A lot of scientific research has been necessary to reach the point where they're currently at. Of course there have been some mistakes made along the way which also resulted in loosing out on some prototype project, but the IF imo acknowledged those mistakes and improved upon them. And yes it's taking longer than expected, but this is almost everywhere in crypto the case, besides some copy+paste meme tokens And if you see the current project partners that are currently developing alongside IOTA, you can't deny the interest. There is the EU Commission with many projects, most prominent [EBSI](https://blog.iota.org/phase-2-eu-blockchain-pre-commercial-procurement/). [Gaia-X](https://blog.iota.org/iota-foundation-joins-the-gaia-x-community/) together with Software AG, the biggest Software developer in EU after SAP. [NEDO](https://blog.iota.org/securing-critical-data-with-iota/) in Japan Also the whole Defi and NFT sector that is currently onboarding because of the next protocol update will be huge. But the biggest killer feature that IOTA will enable on a mass scale will be IOTA Identity, which is only possible on IOTA in this way and the missing piece for crypto. The IF worked their a*ses off and they deserve a second chance imo. If you want to wait till Coordicide to reenter I can of course understand that. But If you want to get in cheap, this is your chance.

redkoil

In short it is over 30 years old company providing business intelligence solutions to corporations. Main competitors are SAP, IBM and Oracle. Revenue is around half a billion per year. Few thousand employees.

pale_blue_dots

The fact of the matter is GameStop is getting heavily involved in Web3, Ethereum Layer 2, and decentralization. That's pretty freaking cool in my book. Then, throw in some business related fundamentals and it gets even better. Last year they had ~$6B in [revenue](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-year-2021-results) and are now sitting at a ~$6B marketcap - in other words, the MC is ridiculously low for the associated revenue. It's undervalued, to put it simply. As well, they have about **$1B** in *cash on hand.* They've partnered with both Loopring and Immutable X which can cover lots of ground for a variety of functions, including, possibly NFTs as more than .jpegs - as is surmised. There may be an NFT dividend on the horizon which would be, potentially, worth *a lot* (I mean, *a lot*) of money. [Here's a list of the hiring over the last year or so.](https://onedrive.live.com/View.aspx?resid=D645EE2EDB0B6!2167&authkey=!AMFLvwFiMuIKSHI) This shows over 250 new hires from some really big names. Some quick examples: * Chief Technology Officer from Amazon and Zulily hired in March of '21 * Sr. Director Product Management from Chewy and Amazon hired in March of '21 * VP of Engineering, E-Commerce from Chewy and Wayfair hired in September of '21 * VP, Program Management from Amazon and Walmart hired in September of '21 * Sr. Manager, Category Finance from Amazon and Disney hired in November of '21 * Finance Director - Marketing, Loyalty & Pricing from Amazon and Citi hired in November of '21 * Sr. Manager - Small Parcel Transportation from UPS and Chewy hired in December of '21 * Lead Software Engineer from Wayfair hired in January of '22 * Sr. Software Engineer from Wayfair hired in January of '22 * Sr. Merchant from Amazon and Groupon hired in January of '22 * Senior Systems Analyst - SAP BRIM from Microsoft hired in January of '22 * Senior Manager of Cyber Resilience from T-Mobile hired in January of '22 * Senior Director Inventory from Nike hired in January of '22 I mean, the list goes on and *on* and *on* and on and on and *on..*. but [you don't have take my word for it.](https://www.youtube.com/watch?v=l9nFs2PeWw0) Have a look for yourself in those links above this list. Do you really think ALL those people would be leaving those jobs to work at a "dYiNg BrIck AnD MoRtAr"? Not a chance. Also, ask yourself... is Wall Street trustworthy? Is it corrupted? Do you think it's possible they got too, too, too, too, too greedy and blinded and made a mistake - and *got caught with their pants down?* The Wall Street network has so much money they can astroturf just about any platform and any subject if they want - and believe me, they've done that with respect to GameStop. Believe that "teenagers." [This](http://gmedd.com/) is a good website that has a lot of resources if anyone is interested. Then [here](https://fliphtml5.com/bookcase/kosyg) is some really heavy DD around the subject that makes it totally 100% clear that there's major fraudulent activity in the entire market, which of course, includes GME - and to which Gary Gensler, the head of the SEC spoke of today when he [said](https://np.reddit.com/r/Superstonk/comments/sjwsej/im_sorry_what_happens_when_i_place_a_market_order/) that, "When you place a market order - 90 - 95% do not go to the "lit" exchanges..." In other words, most of the time they go to "dark" exchanges which **have no transparency** and are totally and fully manipulatable and, essentially, at the end of the day, fraudulent as a mofo - to put it simply and in ELI5 terms ([more](https://www.youtube.com/watch?v=NBkPQ0VsWV0) of the interview if so inclined). Basically, the hedge funds and Wall Street got caught cheating ***again.*** It's that simple. And it's very easy with their money to sway public opinion and send out waves of propaganda to make any company look and sound like shit, no matter the truth. They're conniving liars and thieves. Remember, GameStop has over *$1 Billion in cash* on hand - that's one-**b**illion dollars to use. They've been buying lots of warehouses and totally revamping their business model. The company is *very likely* going to be a powerhouse going into the future - especially considering they're in the gaming market, which is bigger than the movie-making business, Hollywood and Bollywood combined -- while also having had billions of dollars in revenue last year and a teeny marketcap. If you're willing to spend $100 or $200 on a stock or some tokens or a new project, seriously consider diversifying into some shares of GameStop. Definitely. [This is a good summary, too, worth a quick read.]( https://www.reddit.com/r/Superstonk/comments/uqlxpa/new_to_gamestop_start_here_the_gamestop_bullcase/)

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.

yayaoa

- BTC was never intended to be anonymous but pseudonymous (which it is) - BTC got Lightning and gets used quite a lot. Well at least compared to 99% of all other cryotocurrencies - if you use lightning it actually is dirt cheap and can handle more tx than visa/mastercard - the correlation to nasdaq developed just in the last 2 years. And the point of Bitcoin is it's decentralized nature. If you buy Tesla you buy an centralized entity. If you buy SAP500 you're buying a product of a yet again centralized entity. - stability in volatile markets are just given. Doubt that anyone expected BTC to be stable in value.

null-pointer-deref

For all the instances you have mentioned e.g. Apple making phones, Spotify giving you music, KFC serving you chicken, a lot of technology and plenty of other tools, businesses and processes are running on the background to make all that possible, so your question is like asking why all that shit like SAP (or any other ERP), and the tech on the cashier machines and the speakers of the drive-thru, and the technology of the frying machine or even the optic fiber connection at the restaurant is useful for KFC if I just need my chicken wings? Therefore, the coins (as the chicken wings) is the product the final user sees and a way for the company to get revenue from, however the real value is on all the technology and research and effort behind. Industry has been using Distributed Ledgers (the base for the so-called blockchains) for decades and trying to improve and find new uses cases for them every single day since then...All this blockchain hype nowadays is simply a capitulation and realization of this undeniable enhancement of an specific technology. Currently we might be on a very early stage and similarly like your great (great) grandmother didn't directly benefit from the invention of the IC engines 1.5 centuries ago, most of the people cannot see the impact of an invention until it is adopted by the masses. However If we are lucky enough you and your mom will benefit from whatever "crypto project" is being used in the near future to claim an insurance policy in seconds, stop worrying about paying toll or parking or EV-charger fees, stop carrying around a passport and other documents while traveling or a license while driving, stop doing tons of paperwork for tax reporting, leave your home appliances do shopping for your supplies, or check if your food is really organic at the super market. TL;DR: The more unreliable and untrustworthy the human beings become, the more benefits we can get from all these blockchain techs.

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.