What are the “experts” saying about the future of blockchain and cryptocurrency? Is it all just a fad, or is it the future? At least one individual considered an expert in blockchain and cryptocurrency believes there is no turning back.
I recently had the opportunity to interview an attorney who represents blockchain companies. I was so excited to have the chance to talk with him, but he said he had to remain anonymous – so I can’t use his name. I am sorry about that – but I can share his answer to the questions I asked.
Q1: Please tell me about yourself and how you are involved with the Crypto and Blockchain industry.
A1: I am a lawyer that represents blockchain companies.
Q2: How will regulation evolve for crypto and blockchain?
A2: I believe governments will continue to focus on applying the traditional legal regimes to digital assets and, over time, the law will evolve through small pieces of legislation, rulemaking, and case law.
Q2 part 2: And for security tokens in general?
A2 part 2: The law on security tokens is well settled and I don’t expect movement.
Q3: What would you say are the primary elements of a successful crypto token?
A3: Not within my expertise.
Q4: Which countries do you think will lead the way for the future of Blockchain technology?
A4: El Salvador.
Q5: Where do you see the Blockchain and crypto industries 10 years from now?
A5: It will eat everything. All software systems and companies will work on and with open systems. Every centralized system will be disrupted through decentralized technology. The banks will be disrupted and many will fail, most fiat currencies will have failed, the U.S. dollar will survive, but it will not be the dominant global reserve currency that it is today, and USD will run on blockchain based rails. The blockchain industry will be a horizontal and not a vertical – all companies will be blockchain companies and they will no longer identify as such (they will self-identify as gaming, finance, insurance, healthcare, e-commerce, etc., and blockchain will be a given). The humans that are kids now will be natively digital and not know a life without purely digital currencies and decentralized architectures – they will laugh when we tell them stories about “paper money.”