In our new CONVOCO! Podcast Corinne M. Flick speaks with Bruce Pon, Founder and Board Member at Ocean Protocol, about:
Are we seeing the breakthrough of Cryptos?
Here’s what he said:
Ironically, the hostility and duress that the crypto industry has faced over the last four years and even more have made us more resilient, robust and mature. So maybe it has been a blessing that we were given the time to mature and grow.
Crypto has been growing in places where it is truly needed, where there is a use case, where the strengths of the cryptocurrency are stronger than the barriers to adoption.
Bitcoin is definitely the king of cryptos. It is it’s the safest, the longest running, the most secured and it’s got kind of the simplest use cases.
A Bitcoin reserve acknowledges that there should be a hard currency that can’t be printed at will with inherent value across space and time, like gold. […] At the core, it is an inflation hedge. It could be used to pay down debt, can signal an openness to innovation. It diversifies and also stabilizes national reserves.
In the short and medium term, people need price stability […] and Bitcoin doesn’t necessarily offer that. […] Bitcoin actually shows us what is happening in the world, given the emotions, given the information, given the economy and the political situation where the market digests the information and then prices Bitcoin, as well as other assets in real time.
What we’ve always thought was that blockchains and AI go together because blockchain is the arbiter of truth and AI is a generator of value.
The best thing you can do as a government is to set the rules of the playing field, but not mandate. That’s one of the main challenges in the Western world, that we’ve gotten to the point where instead of government being an arbiter of fairness, it is now tipping the scales.