Co-founder of the Ethereum Foundation: cryptocurrencies are not on the verge of collapse

Co-founder of the Ethereum Foundation Joe Lubin sees on the horizon a serious problem for crypto-currencies. Unlike other well-known experts who predict the collapse of the stock market almost every day, Lubin maintains an optimistic point of view. In a recent interview, the developer said that over the years, the crypt has experienced hard times.

What happened in the past

While cryptocurrency is stuck without movement, investors and analysts remains only to speculate around the future of the market. While the most obvious outcome seems a new Bitcoin fall below $ 6,000. However, according to Lubin, this will not happen.

He stated this in an interview on CNBC. In his opinion, the industry is slowly but steadily growing.

The stock market is on the verge of collapse. We have already witnessed many UPS and downs over the past 10 years, the ecosystem around Bitcoin has never been so strong. Now I’m talking about the number of projects, people, developers and resources involved in the industry.

Lubin again assured that investors have no reason to panic. Around promising CryptoStream already “built infrastructure”. Besides coming to the “party” will be joined by institutional investors. Just a couple of months on the platform Bakkt will be launched futures on Bitcoin.

Problems with financial regulators

Lubin also discussed regulation of the stock market. In his opinion, now the financial regulator has not come to a definite opinion about this topic. Recall, the SEC is still considering applications for the approval of the cryptocurrency ETF.

The blockchain has many uses and its use in the financial sector also do not need to write off. Thus in contrast to the main cryptocurrency, Ethereum does not require the strong support of regulators.

Image source — NewsBTC

The bitcoin cryptocurrency. The Ethereum also have some of the characteristics of cryptocurrencies, but it is more like “fuel for the crypt”. In addition, our project is a decentralized platform which by definition does not need the approval of a third party.

Information prepared in Coingape.

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