Matt BrittonFounder & CEO powering AI-driven consumer insights

Blockchain Technologies Will Find Broader Use.. But Face Government Pressure

Name: Blockchain Technologies Will Find Broader Use.. But Face Government Pressure
Uploaded: 2018-10-17T02:57:24Z
Channel: Matt Britton
Description: Bitcoin and crypto will survive a dot-com-style shakeout where most projects fail but a few core brands endure. Scarcity drives price, not hype around…

17 Oct 2018

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Bitcoin and crypto will survive a dot-com-style shakeout where most projects fail but a few core brands endure. Scarcity drives price, not hype around new coins. Government pressure to track who holds and uses money will be the real constraint on growth.

And speaking of cash, now we have the blockchain and we have bitcoin. I've already been asked about that probably 12 to 15 times because I've been here and I understand why. First, my take on bitcoin is I think there's going to be a shakeout. So if you look at 2000, that there's a dot com shakeout. There was so many companies advertising and 90% of them went out of business, but then there was still an ebay and Amazon that came out of it. I think cryptocurrency is going to be the same thing. What should be driving our prices right now is scarcity. There needs to be scarcity. If there's endless supply because there's new ICOs coming out every day, then how can the prices keep going up? It would go up with scarcity. So I think there's going to be some core brands which will become the new cryptocurrencies. I think one of the issues, again, is going to be government intervention, because the thing about money is that the government likes to know who has it and how it's being used.