Clayton Gardner, co-CEO of crypto investment management firm Titan, says that as crypto embraces wider adoption, he expects more institutions to buy Bitcoin and invest in smart contract-enabled altcoin projects like Ethereum, Avalanche, and Terra in 2022. In the eyes of Nader Al-Naji, head of the DeSo foundation, decentralized social media has the potential to be “much bigger” than decentralized finance. Reviews of famous CEOs about the cryptocurrency market, cryptocoin.com We have prepared for our readers.
“This could be altcoin markets where institutions pump capital”
Bitcoin traditionally did not support complex smart contracts, which are computer programs stored on blockchains. But a major upgrade in November could unlock even more potential. Clayton Gardner comments:
Bitcoin was initially viewed by many funds as a macro speculative asset, and for many it still is. If there’s anything that solidifies the use case, it’s a store of value. In fact, as a medium of exchange, it is not used as originally intended.
According to Clayton Gardner, institutions looking for blockchains that can generate utility and some intrinsic value over time may consider other smart contract blockchains driving the growth of decentralized finance and Web 3.0, the third generation of the Internet. After stating that Bitcoin is still one of the most secure blockchains, Titan’s co-CEO points out the following altcoin projects:
But beyond Bitcoin, I think layer one, layer two Blockchains will handle most transactions and activities from Non Fungible Tokens (NFTs) to DeFi. I think institutions see that, and as long as they want to run the capital in the coming months, I think this may be where they’re pumping the capital.
Partisan splits over stablecoins
As highlighted at the Senate Banking Committee hearing on Tuesday, Republicans point to the benefits of such altcoin projects, while Democrats point to the risks they can pose to consumers and the economy.
Massachusetts Democratic Senator Elizabeth Warren has expressed concerns that some stablecoins may not be fully supported, citing Tether, the largest stablecoin holding nearly half of its reserves in commercial paper and certificates of deposit, according to the June 30 certification report. Pennsylvania Republican Pat Toomey touted the potential benefits of stablecoins, such as speeding payments and reducing costs.
The divisions among senators are significant, as the President’s Working Group urged Congress in a November report to quickly pass new legislation requiring the issuance of stablecoins by insured banks. However, some industry participants believe that people will find a way to access stablecoins, regardless of whether a bilateral agreement can be reached. Carlos Betancourt, founding chairman of crypto hedge, comments:
There is a growing consensus that those lobbying to slow the adoption of stablecoins are major financial institutions that are in the process of working ‘quietly’ on their own cryptocurrencies and/or stablecoin projects.
What is decentralized social media？
The price of Decentralized Social (DeSo), a cryptocurrency powering a blockchain that supports decentralized social media applications, rose nearly 74% from $94 to about $164 after it was listed on Coinbase Pro on Monday. The altcoin price later declined to the $95 level.
In the eyes of Nader Al-Naji, head of the DeSo foundation, decentralized social media has the potential to be “much bigger” than decentralized finance. “There are only a few companies that control most of what we see online today,” says Nader Al-Naji, adding that DeSo offers many new ways for creators to make money.
If you find a creator or influencer when you’re young, you can invest in it, and then if they get bigger and more popular, you’ll make money and they’ll win and get capital early on to produce their creative work.
BitClout, the first application created on the DeSo Blockchain by Nader AI-Naji and his team, initially sparked controversy. Some have discovered that while users of the app buy and sell tokens representing their identities, they have profiles on the platform without their consent. And this has caused controversy. Such tokens are called “creative coins”. The DeSo head responded to the controversy by saying that DeSo now supports more than 200 social media apps, including Bitclout:
I think if you don’t like these features, now you have the freedom to use the app you want. Some apps do not have this functionality at all.
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