Jeremy Allaire told CNBC that Cryptocurrency and Blockchain may be “as broadly adopted as the internet is today”. One major influence for this considerable occurrence is Ethereum. “Currently Ethereum has the huge amount of developer activity,” Jeremy Allaire added.
“One of the things that really catalyzed the crypto market […] a place where you could build apps on top of it. You could issue new tokens […] of financial contracts, using the smart contracts technology”.
Ethereum, the creator of the digital token “Ether” established an application platform designed on the blockchain. This is the same technology that underpins Bitcoin too. The launching of Ether was the initial fundraising effort to build the platform.
As an outcome, Jeremy Allaire concluded, ICOs as a crowdfunding means to raise the funds for crypto ventures that have dramatically grown.
Jeremy Allaire says Ethereum May Urge the Blockchain Adoption
In the course of 2017, Initial coin offerings raised $3.8 billion. However, within six months this year, firms have raised thrice the amount around $12.4 billion in ICOs- according to CoinSchedule.
Jeremy Allaire said, “It also catalyzed lots of competing infrastructures to Ethereum”. He emphasized that currently there are lots of modern blockchain platforms on the market. Some that majority consider are EOS, Cardano, and NEO, he added.
Meanwhile, cryptocurrency traders enjoyed this week as Bitcoin raised above $7,000 on Tuesday, after dropping below $6,000 the previous month. While the growth is notable, it’s much far low the 2017 December highs of $19,500. However, Bitcoin bulls believe the coin is not dead yet.
Barry Silbert- CEO and founder of financial firm Digital Currency Group;
“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”.
The same day by 5:30 p.m. ET, the Bitcoin price was just around $7,300, where it was steady above 24 hours.
Silbert predicts that 2019 will be a good year for cryptocurrency and blockchain. It will bring the increase in accessibility and the better understanding of the products.
He said, “I’m all about the infrastructure that’s required to create the on-ramps and the off-ramps for Wall Street to get involved in this asset class.”
What do you think can Ethereum urge the Blockchain Adoption the same way as the Internet is today? Share your views in the comments section below.
Image Source: Jeremy Allaire