Blockchain technology is a very important topic that is being discussed across many companies and industries around the world. Different figures in the crypto space, including the billionaire investor Mike Novogratz and CoinPayments CEO Alex Alexandrov, have given their opinions regarding blockchain expansion and digital assets.
Novogratz And Alexandrov Talk About Blockchain
During a conversation with Bloomberg TV, Michael Novogratz, the CEO of Galaxy Digital Holdings, explained that there are several institutions entering the cryptocurrency market. Nonetheless, he acknowledged that mainstream crypto adoption is going to take a longer time.
According to him, people became unrealistic in 2017 about how fast the blockchain revolution was going to take place. Although this is going to happen, it will take some more time before we are able to judge the final effects of this expansion.
On the matter, he commented:
“What 2017 did, that crazy bull market, is it got people unrealistic expectations on how fast the blockchain revolution, the crypto revolution is actually going to happen. You gotta give them some more runway before we give them the thumbs up or thumbs down.”
At the same time, CoinPayments CEO has also talked about the role that the company played in the crypto market during the last few years. During a conversation with Bitcoinist, he mentioned that the markets have started to recover this year but we are far from the “next wave of adoption.”
Indeed, we might require more time to be able to affirm that this adoption phase started. As he mentioned, they have been working very hard during the bear market of 2018 in order to improve their services. In order for mass adoption to happen in the future, companies will have to scale and offer better services.
Furthermore, Alexandrov explained that they have seen unprecedented growth in the total number of merchant signups, the total number of transactions and the total volume transacted from 2107. In addition to it, Alexandrov stated that they are also offering solutions for large e-commerce storefronts, for example, Overstock. They are also building different plugins for many popular e-commerce service providers.
The cryptocurrency and blockchain markets will require more time in order to reach mass adoption. This is clearly something that takes time and that would require the effort of many companies and actors in the market. As Novogratz and Alexandrov consider, this may take a longer time than expected and firms must work and develop solutions that would help address many of the current challenges faced by the industry.
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