Imagine if could predict the future. Or even time-travel and rock the stock markets on a whim – make a quick killing and enjoy what truly matters in life. Well, this is all an option an it’s never too bad to try.
Not the time travelling bit though, but rather the idea of getting events right in the investment market. Today we are stopping at what Brock Pierce, the chairman of the Bitcoin Foundation actually thinks about the future of the industry.
Mr. Pierce is a serious man. As serious as they can get.
Pierce’s Outlook on Bitcoin, Crypto and More in 2019
Cryptocurrencies and blockchain have been one of the quickest-moving technology. They started as a solid promise to make the future of individual owners a little brighter. They have succeeded for some, whilst others have succumbed, owning too little or just selling up.
At the end of 2017, we saw an unprecedented rush to get on Bitcoin, with the prices soaring to the vicinity of $20,000. While many were scared to miss out on a good thing, others were wary of a potential trap and financial ruin.
The latter turned out to be truer than the fear-of-missing-out impulse that drove some people to take actual mortgages on their properties. The world has been changing not only insofar as cryptocurrencies are concerned. There’s been a lot of fraudsters, too.
OneCoin’s founders were arrested as part of a scheme that was defrauding users out of millions, if not billions. The scheme is operational today, even though one of the founders has been arrested.
In 2017, we saw the world go crazy with the concept of Initial Coin Offering (ICO) bringing a solid flow of fresh FIAT investment in exchange for digital, crypto assets. Companies such as Facebook, Amazon, Apple, Netflix, and even Google tested the idea of running with crypto assets.
Investors and governments also readily piled on the idea and thought it to be a great solution to an existing problem – the intrackability of these assets. By involving the world’s largest corporations and government. Still, cryptocurrencies aren’t in a brilliant shape and that’s easy to spot with the naked eye.
Just because they are facing trouble, though, doesn’t mean that the crypto revolution has stopped.
What Can We Expect in 2019?
Well, 2019 is going to be a promising year indeed. There are at least several important developments that will be predicated on what is known about Bitcoin and cryptocurrencies. Most of these advancements, though, aren’t based on the idea that you need to own a particular cryptocurrency – and that’s the important thing.
dApps
Enter decentralized Apps, or dApps. Forget about controlling these. The blockchain-based software will be able to go through anything you command it to without ever having to worry about securities breaches. Many companies have already successfully entertained the idea, including:
- Ethereum
- Tron
- Cardano
- EOS
Here’s what Mr. Pierce had to say about these:
“We’re going to see big things being built, multiple applications hitting a million users. I love the fact that prices are down. When prices are up, very little gets built because teams don’t stick around. Everyone is getting rich too quick and that de-motivates people. All the best things I’ve seen built in this ecosystem have been built in bear markets.”
Mr. Pierce has also been able to cite three scenarios in which crypto and blockchain will be successful:
“Three things: They have to be scalable. They have to be fee-less and frictionless. They have to be fast. No one will use the new internet if it’s slow, costs money and doesn’t’ scale. We are building the new internet, so new standards need to be set. Timing-wise, blockchains that check these boxes are happening now within the 3rd gen protocol; EOS, Tron and Cardano, to name a few.”
STOs Should Be Coming Soon
One of the others largely discussed ideas is the advancement of the Security Tokens and Security Token Offerings. Basically, ST and STOs are considered to be a general improvement of the ICO whereby they can be used by corporation and even governments. Here’s what Mr. Pierce had to say about them:
“Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world’s fiat money, debt market, real estate, equities, and art. They are the next wave in the evolution of capital markets. ICOs did not adequately protect market participants – it wasn’t intended to – utility tokens are by nature not intended to be security, so it provided little protection. STOs have a framework that can do that. STOs are designed for investors and can have many provisions that are there to protect market participants.”
Gaming
Gaming is another big part of the offer in 2019 and beyond. As people join online gaming simulators more often, they will need some form of currency they can use that possibly has real-world implications. According to Mr. Price, these games can be quite versatile:
Gaming is going to be a huge part of it. The earliest adopters at scale of crypto were gamers. That’s why Korea and China are so big. These were the markets where people played video games and bought and sold virtual currency for games like Second Life and World of Warcraft.
“It’s that community of users around the world that have driven the first wave of crypto adoption and so I think there’s a very good chance that gaming in all its forms will be one of the major drivers of the success of the ecosystem,” Mr Pierce added.
He then continued:
“Messaging and peer-to-peer payments to bank the unbanked as well also significant. Two-thirds of the people on the planet don’t have access to financial services. The internet didn’t become usable until Netscape because that gave the average person a user interface that was intuitive, simple, friendly – this made it accessible.”
More Than Crypto – Gaming Has the Spotlight
It’s not surprising that Mr. Pierce is interesting in how cryptocurrencies dovetail with video games and if at all. He founded Internet Gaming Entertainment (IGE), a company that is not exactly famed and loved by MMORPG developers.
IGE has been selling in-game currency for real money, turning a very substantial revenue very quickly. However, Mr. Pierce, as any self-made investor would, didn’t really just linger around IGE and he pushed forward with his brothers, creating the venture capital firm, Blockchain Capital, or BCC for short.
Mr. Pierce has also been involved in certain unpalatable controversy in his personal life, but the allegations have long been dismissed or/and settled.
Ultimately, Mr. Pierce is a bright figure in the current blockchain and cryptocurrency landscape and listening to what he has to say today and about the future of a business he’s intimately involved and familiar with is quite important.
Allegations of sexual misconduct have been very common when it comes to Mr. Pierce, but in the subsequent years of such allegations, they were all dismissed successfully. In 2015, plaintiff was found out to have falsely submitted his statements leading to 2-year incarceration sentence, which was linked to a fraudulent investment scheme.
Despite all of these challenges, Mr. Pierce’s personality is shining brightly in 2019. He’s the founder of a number of successful initiatives and he has no intention to stop and enjoy a cushy lifestyle that his current assets can buy him.
Constantly on the move, Mr. Price understands that the future he wants to live in hasn’t quite been prepared yet. What better way then to craft it yourself?
Mr. Price’s Predictions Are Truthful and Logical
Yes, the truth of the crypto industry is linked to technology that can be leveraged for everyone’s greater good. Cryptocurrencies are indeed the way to go when it comes to anonymous payments, but there’s something else that comes to mind – sustainability.
Sustainability is important and that’s the future that Mr. Pierce knows will take effect.
Comments (No)