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Crytpo-crash is similar to Dotcom bubble crash: expert

wired 25 summit on cryptocurrencies

The Wired’s 25th anniversary summit became a platform for discussions about the exigency of embracing crypto-currencies between co-founder of Reddit, Alexis Ohanian, and MIT Media Labs’ Director.

Ohanian compared the crypto-market’s hindrances with the start of the internet by saying that the ‘crash’ following the dotcom bubble paved the way for helping nowadays internet giants such as Wikipedia and Facebook to grow.

He was convinced that the situation of crypto-currency today is no different from the internet in the 90s when it was considered an object of exploration rather than an accessory for the public.

He theorized that by scattering the small, poorly managed businesses, it had reached a period of productivity that will undoubtedly be a turning point in its history.

Narulo’s opinion, however, differs, as she believes crypto-currencies are competing today the same way the Transmission Control Protocol and Internet Protocol did to get adopted for the internet.

Therefore she considers that one among the multiple crypto-currencies will rise significantly more than the others. She added that unlike the development period of internet crypto-currencies are widely known throughout the globe.

They both agreed that being a cross-border method of transactions for people without access to their banks was the biggest achievement of digital currencies.

Narulo was convinced that the crypto-currency is still developing and they are yet to reach their peaks while Ohanian simply said that being as unstable a vault of data AS BItcoin is it is still ours.

The experts agreed that only by addressing public interests and attracting investors can these currencies reach their utmost potential though both had their different opinions on certain matters.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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