Ripple, Fundstrat & Nobel Laureate Paul Krugman share stage to deliberate on crypto future
ChainXExchange conference has seen the gathering of eminent personalities like Cory Johnson of Ripple and others to discuss on crypto future. The event has been held in Las Vegas in which the invitees apart from the Chief Marketing Strategist of Ripple, include American economist and Nobel Laureate, Paul Krugman and Tom Lee, the Research Head of Fundstrat Global Advisors.
As soon as the industrial investment experience an upsurge, the demand for digital currencies will be rising, as per the notion of the attendees. These significant personalities shared their opinion stating that around this time, the millennials will derive their good earning. Even the regulators would establish standards during this phase.
The Eminent Speakers
Paul Krugman, the world class economist has always expressed his scepticism towards the domain of cryptocurrency. He has stated that the application of digital currencies is only confined to making payments concerning illegal activities.
He has also highlighted that in the transaction procedure the electricity consumption is quite high since the time taken ranges from hours to several days. According to his statement, “What problem is it supposed to solve? We are using this clever algorithm to bring monetary economics back to the 17th century. The monetary system we have works pretty well.”
Cory Johnson working at Ripple has put forward the point that the valuation of cryptocurrencies in the market would have been reduced to zero if there were no practical applications of them. He has asserted that venture capitalist firms who take interest in making investment in this crypto domain become reluctant due to the absence of proper regulation and transparency. He has opined, “The rules of the road are not clear. Until that happens, the industry won’t develop to the scale it can.”
The tone of Fundstrat’s Tom Lee is supportive towards cryptocurrency. In his views, even when the current crypto market scenario suggests not so good time still he has asked the investors to remain optimistic. He has this faith that the time of price declination of the digital currencies will soon get over. In his statement, “It is a mistake to be bearish when you are already down. The bear market has largely run its course in crypto. The only time when you can make money in a big way is to buy when others are selling.’’
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