Brock Pierce, who shot to fame as a child actor in Disney movies, has now become a flagbearer of the cryptocurrency movement. He is currently the Chairman of the Bitcoin Foundation and founder of the EOS Alliance. In 2013, Pierce joined the Stephens brothers and founded the crypto venture capital firm Blockchain Capital. In a recent interview, he gave his views on the future of crypto in 2019.
Ethereum is the oldest and most popular blockchain for hosting decentralized applications (dApps). According to Pierce, however, it has been rapidly losing ground to EOS and Tron. The rise of newer dApp hosting platforms has led to immense growth in the development of dApps.
Pierce said that more applications are going to be built, with many of them also achieving the benchmark of one million users for the first time ever. He said that the cryptocurrency industry’s current conditions are extremely beneficial for innovation. Bear phases might hurt portfolios, but more importantly, they promote innovation and development.
Pierce said that three crucial points need to be addressed for the growth of dApps. These include scalability, transfer fees, and speed. He compared the current phase of the blockchain and crypto industry to the early days of the internet, where access and availability were limited. People will only want to use digital money if and when it is faster and more efficient than fiat money.
STOs and Gaming
Security Token Offerings (STOs) offer a new alternative for blockchain companies looking to raise money in a way that is completely within the jurisdiction of local regulators.
The next year will see the tokenization of real estate, debt, equity, and other traditional asset classes. Pierce believes that their tokenization will lead to the next wave in the evolution of capital markets.
ICOs have come under scrutiny by the US Securities and Exchange Commission due to the lack of clarity on utility tokens being considered securities. STOs, on the other hand, are designed to safeguard investor wealth as they come under the purview of securities laws. These STOs offer a better framework for investors than ICOs.
At the age of 21, Brock Pierce founded the Internet Gaming Company. In the interview, he said that the gaming industry would play a vital role in the growth of crypto and blockchain. Pierce predicted that the industry will continue to drive innovation and growth in blockchain technology as well.
Companies specializing in gaming were also among some of the earliest adopters of a digital currency ecosystem. As a result, Korea and China, two of the most prominent gaming markets, also went ahead to become the biggest cryptocurrency markets overall. Lastly, Pierce said that, in the coming years, digital currencies will serve as a respite to a significant percentage of the world’s population that is currently deprived of essential banking services.
What will be the future of cryptocurrency and blockchain technology in 2019 according to you? Let us know your thoughts in the comments below!
Images courtesy of Shutterstock.