Circle CEO: Ethereum will Lead The Crypto Adoption Journey
Ethereum, which allows apps to be built on top of it, will be a key driving force for the wide adoption of cryptocurrencies and blockchain technology, Jeremy Allaire, CEO of Goldman Sachs-backed digital currency exchange Circle.
During the CNBC’s ‘Fast Money’ on Wednesday 18th July 2018, Jeremy Allaire said that cryptocurrency and blockchain technologies built by Ethereum will act as a foundation for future applications. He remarked,
“Right now, Ethereum has an enormous amount of developer activity…one of the things that really catalyzed the [cryptocurrency] market last year was actually that Ethereum, in particular, kind of got to a place where you could build apps on top of it…You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology.”
Apart from being a love for many developers, Jeremy noted that it was among the major things “that really catalyzed the [cryptocurrency] market last year… ethereum, in particular, kind of got to a place where you could build apps on top of it. You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology. It also catalyzed a lot of competing infrastructures to ethereum,”
According to Jeremy, Ethereum has made it possible for initial coin offerings (ICOs) to increase dramatically. Data from CoinSchedule revealed that about $3.8 Bln was raised through ICOs in 2017, but more than thrice this value was raised within only 6 months in 2018, a total amount of about $12.4 Bln has been raised through ICOs this year.
Circle’s official website states that:
“It’s Crypto-powered and people-centric platform. Money that unites us instead of divides us. With open platforms, mindsets, and possibility. Connecting everyone, everywhere so we can exchange just about anything of value. And fundamentally shape the world for the better.”
He pointed out that there are a lot of new blockchain platforms on the market right now and mentioned EOS and NEO. He also said that blockchain technology and cryptocurrencies have provided users and developers with a new layer of infrastructure, much like the internet.
This week saw Bitcoin [BTC], shoot above the $7000 range benefitting a lot of holders who were disappointed by the slow fluctuations over the past few weeks. This significant increase is a sign that Bitcoin “is not dead” according to bitcoin bulls.
The CEO and founder of Digital Currency Group, Barry Silbert, stated also at the CNBC’s ‘Fast Money’ on Wednesday that:
“When the chair of the Fed says negative thing about bitcoin, and Howard Marks says negative things about bitcoin, and Ken Griffin says negative things about bitcoin, and bitcoin doesn’t move, I think that’s a really bullish sign.”
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