In what has been a prolonged period of general negativity towards cryptocurrency, those who believe in decentralised coin as the future will be happy to hear some positive sentiment breaking through the clouds. According to Joseph Lubin, Ethereum co-founder and elite of the crypto community. In an interview with CNBC, ghe cautioned against writing off the cryptocurrency market based purely on the bear market that has lingered for the large part of this year. In his words,
“Digital currencies are not on the edge of a collapse. We’ve seen lots of boom and busts in our ecosystem over the last nearly 10 years and our ecosystem has never been stronger.”
Whilst trading itself may be somewhat subdued, this, he continued to say, should not overshadow the huge amount investment and development that is going on behind the scenes as entrepreneurs around the world put their efforts into innovative solutions based on the underlying blockchain technology, with incredible progress being made on bringing solutions to real world problems.
One excellent example of the progress being made in the field is the game changing Halal Certification project being developed by POCertify. The POCertify team is looking at solving the problem of non-genuine Halal to increase the trust factor for store owners, food and beverages manufacturers, restaurants and halal institutions so that their overall sales increase and their marketing efforts don’t go in vain. Based on current projections, this is a solution that could have a positive impact on as many as 1 in 3 people worldwide in the not too distant future.
At the heart of cryptocurrencies future, states Lubin, is a responsible and ethical approach to the issue of decentralisation. With self governance of the right nature, he is convinced that the crypto and blockchain space can overcome the current resistance from governments and policy makers to emerge into a credible and trusted ecosystem.
It is worth remembering, at this point, that despite the great depression of the 1930’s or the more recent 2008 financial crisis, nobody for an instant believed that this was the end of money as we know it – so there is every reason to believe that the cryptoeconomy will rebound, and when it does, the chances are it will be stronger than ever.