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blockchain “will redefine digital finance



In financial circles, there is perhaps no more polarizing topic than cryptocurrencies.

For some, the blockchain concept is a complete waste of time, serving no purpose other than to create worthless cryptocurrencies for traders to speculate on. However, the flip side of the coin is that there is more and more money, resources and smart minds in this space, despite the bear market we find ourselves in.

We interviewed Granit Mustafa, CEO of Crypto Academy, to get his thoughts on the current bear market, the long-term future of cryptocurrencies, their polarizing nature and more.

Coinjournal (CJ): Do you find that those new to cryptocurrencies are sometimes intimidated by the supposed complexity and technical knowledge required to fully understand blockchain?

Granit Mustafa (GM): Absolutely. While many entrepreneurs are willing to run their businesses and rely on experts for industry-specific know-how, an in-depth knowledge of an unpredictable industry seems to be a key factor in intimidating potential traders, investors and entrepreneurs.

Institutional and individual participants may be afraid to try to achieve anything in this industry. On the other hand, there are so many people who want a piece of the pie offered by the rapidly evolving new sector that they dive in headfirst without all the information.

However, while the technical details and the technology itself are simply complex, the concept behind blockchain and cryptocurrencies is subsequently fairly straightforward, which I think drives people to participate anyway.

At best, participation in the industry itself provides practical knowledge about the inner workings of blockchain and the dynamics within the industry. However, at worst, rushing in can be detrimental to the individual if he or she does not act with due diligence.

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CJ: The Cryptocurrency remains quite polarizing, with some saying there are too many money-making schemes, and others claiming it will revolutionize the economy as we know it. Why do you think there is such a wide range of expected outcomes?

GM: As in any other industry, there are those who fully believe in the novelty and application potential of emerging technologies or industries, and those who oppose them out of fear of the unknown.

We know that in the financial markets there have always been thefts and Ponzi schemes, we know that there have been multiple devastating hacks since the emergence of this digital age, and a host of other criminal activities across industries. In other words, any revolutionary invention or innovation, or in this case disruptive technology, is a double-edged sword.

Conversely, there are those who see the glass as half full and fully believe in the potential of technology not only to make people’s lives easier, but also to combat those very crimes that non-believers continue to point out.

The breadth of these expectations is due to the fact that technology has wide application and, for better or worse, the benefits of this generalization are also accompanied by certain shortcomings that need to be corrected as soon as possible.

CJ: Do you think the current bear market will cause some new entrants to leave the sector for good?

GM : Absolutely. I would like to think that bear markets are a driving force for some participants. Bull and bear markets are the fundamental cycle of the markets, and that’s not new. This repetitive cycle has been with us since the beginning of the markets and, frankly, it’s never going to go away.

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The fear in the market right now is quite significant, but it is a testing ground for those who believe and make sound investment decisions during this critical period, and for those who cannot cope and choose to focus their attention and funds elsewhere.

Needless to say, unhealthy and unnatural market growth would mean an equally brutal and severe subsequent crash. Although the market is new and volatile, and full of uncertainties, the basic behaviors and concepts apply, even though the uncertainty is greater.

Take the example of MicroStrategy. One of the major institutional investors holding Bitcoin (BTC), despite all expectations, Michael Saylor, the CEO, said that the only way MicroStrategy would liquidate its Bitcoin (BTC) holdings would be if Bitcoin (BTC) fell to $3,000, and that they would put up other assets as collateral rather than deciding to sell. This is an example of industry incumbents not being intimidated by a cycle.

CJ : On your website you state that you believe cryptocurrencies are the future of finance. I am curious to know what role you see for Bitcoin in that future.

GM: My team and I fully support the assertion that blockchain and cryptocurrencies will most certainly redefine digital finance.

Contrary to popular belief, regulation is very important to facilitate and accelerate the global adoption of cryptocurrencies, including Bitcoin (BTC). With growing adoption, Bitcoin (BTC) will justify its role as a safe haven investment and store of value, while taking the form of a true digital currency as institutional adoption grows and global payments are facilitated through the flagship cryptocurrency.

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Bitcoin (BTC) holds the key position in the market due to its limited supply and at this time due to liquidations caused by the bear market, Bitcoin (BTC) is ready. The time to buy is now. Years from now, many people will remember the time when Bitcoin (BTC) was trading at $20,000, just as they will remember the time when they could have had Bitcoin (BTC) for $2.

CJ: Have you been surprised by the growth of the industry since. the launch of the Crypto Academy in 2016?

GM : I’m glad the industry has developed, but I’m not surprised. I’ve been in the industry long enough to realize its potential for large-scale applications. I’m glad the rest of the world has caught up with the industry’s fans.

If anything, I was hoping for more growth and a better regulatory landscape to facilitate the adoption of blockchain technology and cryptocurrencies, so I’m a bit disappointed on that front.

However, I hope that Binance and its CEO, Changpeng Zhao (CZ), as a key accelerator of adoption, will encourage and motivate governments and financial institutions around the world to buckle down and jump on the bandwagon.

Coinjournal (CJ): You publish many price predictions on your website. What is the history of these and how do you arrive at such predictions?

Granit Mustafa (GM): We base our price forecasts on general market movement, important indices and sentiments such as fear and greed index, cryptocurrency roadmap, market acceptance and expert opinions to analyze and present the most accurate expected price movement.

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