1.2 Blockchain and the New Financial System

Analyzing the developments in the blockchain and cryptocurrency sector up to 2023, we can see a remarkable journey with significant milestones:

1. Introduction of Blockchain as a Trust Mechanism: Blockchain's emergence revolutionized the traditional financial industry's management model, introducing a more transparent and secure method of handling transactions and data.

2. Growth of Cryptographic Assets: The market value of cryptographic assets exceeding 1 trillion dollars and the existence of over 22,000 different types of digital tokens signify the massive scale and diversity of this sector.

3. Market Dynamics: The journey of cryptographic assets has been marked by various phases:

   • The 2017 surge highlighted the potential and excitement surrounding these assets.

   • The 2018 panic reflected the market's volatility and the risks involved.

   • The 2019 phase saw lingering sentiments and a more cautious approach from investors.

   • The 2020 explosion of DeFi (Decentralized Finance) showcased the innovative applications of blockchain in finance.

4. Entry of Traditional Financial Institutions: Large, traditional financial technology companies started investing in and adopting blockchain technology, indicating mainstream acceptance.

5. Central Banks’ Interest: The growing interest of central banks in digital tokens marked a significant shift towards potential regulatory acceptance and the exploration of state-backed digital currencies.

6. Emergence of Star Projects: The discovery of numerous high-potential projects and innovations in the blockchain space indicated a maturing market with diverse opportunities.

7. Market Evolution: A transition from frenzied speculation to more rational, informed investment strategies became evident.

8. 2021 Trends: The beginning of a minor bullish trend in digital tokens, driven by global economic stimulus measures, with a focus on security tokens.

9. Digital Asset Foundation: The groundwork for asset digitalization has been solidified, with increasing participation from formal financial institutions.

10. Acceleration Towards Redefinition: By 2023, these signs collectively indicate that digital assets are not just a fleeting trend but are significantly redefining financial markets, bringing in new paradigms of investment, asset management, and financial transactions.

In summary, the period leading up to 2023 has been transformative for the blockchain and cryptocurrency industry, signifying a shift from an emerging market to a more established sector influencing mainstream financial practices.