Countries

Bitcoin Introduces to the World a ‘Technology as Revolutionary as the Internet’

Bitcoin, the world’s most popular cryptocurrency, has shown a meteoric rise in the outgoing year
Bitcoin Introduces to the World a ‘Technology as Revolutionary as the Internet’

Today, blockchain technology is still at an early stage of its development and will be used in new interesting projects in the future, according to cryptocurrency expert Bogdan Shelygin.

“It’s difficult to predict what will happen to Bitcoin in the future, but I can say with full confidence that Bitcoin is more than just super profits. It has introduced to the world a new technology which is as revolutionary as the Internet,” Bogdan Shelygin, an analyst with DeCenter, Russia’s largest blockchain and cryptocurrency-related community, told Sputnik.

Bitcoin, the world’s most popular cryptocurrency, has shown a meteoric rise in the outgoing year. Its value grew from below $1,000 in the beginning of the year and hit the historic milestone of $20,000 earlier in December. For some financial experts and economists, however, Bitcoin is a reason for concern as another possible bubble.

According to Shelygin, despite the fact that there are those predicting an imminent collapse of Bitcoin, it is impossible to say whether it is a bubble or not.

“Let’s get to the facts. Once the price of Bitcoin already fell, but it remains valuable for the global community as an alternative to the traditional financial system,” the analyst pointed out, adding that the main feature of Bitcoin is its decentralized nature.

Shelygin also said that the phenomenon of Bitcoin is that it is the first cryptocurrency the global community has believed in for already 10 years.

“This means that the most interesting things are yet to come. A similar situation was with the Internet. Google was founded in 1998, but today the company is a pioneer in web and other technologies,” he said.

Commenting further, Shelygin also suggested that even if Bitcoin collapses the entire cryptocurrencies market will not fall.

“Bitcoin is only the most popular example of the use of the blockchain technology, but it’s not the most outstanding one. Bitcoin and other cryptocurrencies will contribute to the future improvement of blockchain. Today, the industry is still too young,” the analyst said, adding that there a number of other interesting blockchain-based projects to watch in 2018, including Ethereum, Bitcoin Cash and Ripple.

Source/Sputnik

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Countries

More in Countries

San Juan Mayor: ‘Disaster-In-Chief’ Trump Was ‘Disrespectful’ to Puerto Rico

December 29, 2017

Flagrant Violation in Trial of Ecuador’s Vice President, Defense Attorney Says

December 29, 2017

MI5 Plotted Assassination of Irish PM in 1985 – Paramilitary Group

December 29, 2017

Venezuela’s Cryptocurrency Set to Avoid Financial Attacks

December 29, 2017

China Offers Tax Break to Keep Investors after US Overhaul

December 29, 2017

Israeli Jets, Tanks Launch Fresh Attacks Against Gaza Strip

December 29, 2017

Cuban Revolution Persists Despite Hostility of U.S. Government

December 29, 2017

Corbyn Accuses Tory Brexiteers Of Wanting To Drive UK Off A Cliff

December 29, 2017

Brazil Elections: Intellectuals, Artists Back Lula Candidacy

December 29, 2017
You Can Advertise Here
"The other side of the news!"
Copyright © 2015 Carib Flame. Follow us on Twitter @caribflame