# Crypto Enters the Intranet Phase

By [jer979](https://paragraph.com/@jer979-2) · 2022-10-07

---

There was a year or so, around 1999, when all anyone would talk about was “corporate Intranets.”

The “Internet” was nice, but it was the power of the technology behind the Internet, namely the ability to network machines together, that would revolutionize businesses, allowing them to communicate far more effectively internally.

Intranets were the rage and plenty of companies started on this premise.

Yesterdays’ WSJ article,  
[As Crypto Slumps, Goldman Sachs Aims for a Wall Street Built on Blockchain](https://www.wsj.com/articles/as-crypto-slumps-goldman-sachs-aims-for-a-wall-street-built-on-blockchain-11661169781?mod=Searchresults_pos1&page=1)  
_Goldman, JPMorgan are already processing some trades using the technology behind cryptocurrency markets_

reminded me of this era.

Existing business love “the technology behind the innovation” because they only think about how they can use it to do what they already do in a better, faster, cheaper way.

And there’s nothing wrong with that, at all.

But that’s not innovation and it’s not where real value is created.

The Intranet phase lasted about 12-18 months.

Then, everyone realized that wasn’t the big story.

The “blockchain, not crypto” phase may last longer or shorter. I have no idea.

But it’s not the big story either.

---

*Originally published on [jer979](https://paragraph.com/@jer979-2/crypto-enters-the-intranet-phase)*