CEO of Ark Invest Katie Woodstated that despite the ongoing decline in the crypto industry, it is not possible to stop the “crypto revolution”.
Three Great Revolutions in the Crypto Industry
Wood stated that his firm is approaching the crypto industry as a revolution and this is one of Ark’s big ideas for 2022. bitcoin Describing the ecosystem as a ‘money revolution’, the CEO shared his comment, “The monetary revolution, which is Bitcoin, the first global digital private rules-based money system.”
Speaking to CNBC, Ark Invest CEO. DeFiHe believes that has matured over the past year. Efficiency and leverage in some DeFi protocols are too far, adding that the CEO also underlined that he does not believe in “algorithmic stablecoins”.
“As an economist, I couldn’t understand algorithmic stablecoins. The idea that they won’t exist makes a lot of sense.”
Wood thinks DeFi has started and the robustness in the ecosystem is impressive:
“Many people expected the Terra Luna meltdown to cause a systemic chain reaction. And we felt it a little bit. But so far, Ethereum has held up very well.”
Wood explained that digital property rights have the ability to lift people and countries out of poverty.
Can NFTs Help Economies?
Wood is the third revolution apart from Bitcoin and DeFi. NFTHe also mentioned. NFTs are still in their infancy and probably where the token revolution happened in 2017, he shared his comment. “But we believe the digital property rights represented by NFTs will become incredibly important.”
Wood explained that digital property rights have the ability to lift people and countries out of poverty.
Ark Invest CEO concluded his words by stating that the consolidation of the ecosystem would not be a bad thing.
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