Does Crypto Matter?

Crypto is argued to be a Coasian technology whose value lies in reducing transaction and trust costs rather than causing dramatic disruption like AI or rockets, using the Ford and Toyota histories as analogies. The article says Bitcoin has reached a trillion-dollar market value and has its own ETF, while total stablecoin supply has grown from $500 million to $168 billion. It attributes stablecoins' speed and low cost to Ethereum providing trust comparable to the institutions fiat transfers rely on. It concludes that crypto will change the world in its own way, helping train LLMs, enable AI agent payments, and speed up network formation.