There have been many interesting talks given at the World Economic Forum in Davos over the last few days. Wildlife expert and campaigner, Sir David Attenborough, told Britain’s Prince William in front of a packed theatre that we must work harder to avert the disaster of climate change and the extinction of species, and Circle CEO, Jeremey Allaire, told the audience that humanity can’t survive without crypto. Circle is a prominent crypto investment firm for amateur and professional traders.
His argument starts from the proposition that humanity can’t survive the digital age without crypto because its decentralised nature and resiliency make it indispensable.
He said: “People throw around ‘crypto’ like it’s a bad thing — it’s scary. Guess what? Cryptography is at the foundation of protecting modern society, human privacy. It’s a fundamental tool of our cyber defenses. It’s a fundamental tool of every corporation.”
He went on to look at how much modern societies rely on a digital infrastructure and for that reason we must have a “tamper-proof, resilient, decentralized infrastructure.”
Allaire also explained Circle’s view: “We see this as much more transformative even than the web. We think this has a long arc that will have a far greater impact on our civic institutions and our economic institutions. He also believes that crypto can coexist with central banks, even though the banks like to trash crypto: “We’re huge proponents of central bank digital currency and we believed in that for a very long time. Our view is that the creation of cryptocurrencies that are based on central bank money is happening in the private sector first. We launched USD Coin last fall. It’s growing rapidly.”
He ended his contribution to the panel discussion by emphasising that the strength of blockchain and cryptocurrencies lies in the fact that it can work “interoperably with tens of millions of digital wallets around the world. It’s a powerful innovation.”