GM. This is Milk Road, the crypto newsletter that paints you a picture of the future, before it happens (like a clairvoyant, crypto-obsessed Bob Ross).
Here’s what we’ve got for you today:
- ✍️ Theory: blockchains will replace the app store.
- 🎙️ The Milk Road Show: Zoom Out: Why This Crash Doesn’t Change the Crypto Thesis w/ Bill Barhydt.
- 🍪 Culprit for yesterday’s crash?
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Prices as of 2:00 p.m. ET. Trade today with Milk Road Swap.
THEORY: BLOCKCHAINS WILL REPLACE THE APP STORE 🔮
It’s been a rough week.
From Tuesday to Thursday, the crypto market decided to nuke, nuke again, then nuke some more.
Thankfully, we’re getting a breather today...
BTC is up ~16% as of this writing (at $69.9k, up from a low of $59.9k):
That’s a nice little bounce amongst the bloodshed!
But it’s Friday. You deserve a little more excitement and optimism heading into the weekend - so I’m going to supply it.
I’ve been itching to write about this insight since I learned about it two days ago, but the market insanity got in the way - hopefully it delivers the same “Oh sh*t!” moment to you as it did to me…
The insight (originally pulled from this post from DCinvestor), is this:
Blockchains have the potential to replace the App Store in the coming decade.
Which sounds like a lofty ‘crypto-guy-clasping-at-straws’ kinda statement, but hear me out…
Everyone's building apps right now. Vibe coding is everywhere. AI is making it easier than ever to ship software.
But the app you're building today? It probably won't exist in 5-10 years.
Hell, the future isn't about apps at all.
It's about API services that your personal AI agent can find/purchase, whenever you need something.
Think of an API like a digital customer service rep that gets you what you need (whether it’s a product, service, or data set - you call the API → it delivers).
They’re super valuable tools. Valuable enough to make them the leading category in the Onchain Agents sector…
Ok, sounds cool. But APIs have been around for aaages.
How are they going to absorb the consumer app space all of a sudden?
Well…
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THEORY: BLOCKCHAINS WILL REPLACE THE APP STORE (P2) 🔮
Here’s how onchain agents and APIs have the potential to make apps obsolete:
- You tell your AI assistant what you want.
- Your agent finds the right APIs for the job, connects to them onchain, and calls/pays for the service, live, in the moment.
- You get exactly what you need without downloading anything, navigating clunky UIs, or managing 47 different apps on your phone.
DCinvestor used Uber as an example…
Do you actually love the Uber app? Or do you just want a ride to show up?
Imagine asking your AI assistant to find you a ride…
It checks Uber, Lyft, Tesla’s Robotaxi network, and three local services you've never heard of.
Compares prices → picks the best option based on your preferences → books it.
You never touch an app.
(See what I’m getting at?) 👇
Source: Milk Road
The common misconception: most people still think the core value lies in the software itself.
The reality: the value is in the backend business model that connects customers with providers.
(The app is just a middleman.)
And AI has the potential to cut out that middleman entirely.
Ok, but why would all of this happen onchain, and not just online?
It’ll likely be a mix of both - but onchain rails have an edge. Multiple edges in fact:
- Transparent pricing.
- Permissionless access.
- Instant, low-cost payments.
- And best of all: no platform risk.
So what should you do if you want to invest in this wave?
Find the chains already building/preparing for AI-to-AI commerce → find the future winners of this space.
So far, Ethereum appears to be doing a pretty great job of preparing for this future, with the recent ERC-8004 update.
But ERC-8004 can be adopted by just about any chain (and it already is) - so the playing field is still broad.
Either way, I get the feeling things are only going to accelerate and get very weird, very quickly from here.
(Now tell me you’re not excited!)
BITE-SIZED COOKIES FOR THE ROAD 🍪
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Culprit for yesterday’s crash? Someone could well have blown up, with the smoking gun pointing to Hong Kong.
Someone’s getting fired: An employee of the South Korean exchange, Bithumb, accidentally gave away $130M in Bitcoin yesterday.
Helluva shot! Fundstrat's Head of Digital Asset Strategy, Sean Farrell, nailed this current market downturn with a call he made back in Dec!
Tax season is just around the corner. If you’re not sure how to go about it, SUMM is a tax software built specifically for crypto.
Discover an easier way to use crypto.
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