Ethereum is like the Internet

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Circle CEO and co-founder Jeremy Allaire, claims that Ethereum could be a major driving force for blockchain and cryptocurrency and be as broadly adopted as the Internet.

The fintech CEO told CNBC, “”It’s a really fertile space in terms of the fundamental, technical and infrastructure,” and he thinks that Ethereum is the driver, because “Right now ethereum has an enormous amount of developer activity.”

“One of the things that really catalyzed the [cryptocurrency] market last year was actually that ethereum, in particular, kind of got to a place where you could build apps on top of it. You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology,” Allaire told the “Fast Money” programme audience.

Allaire sees this as the reason behind the popularity of ICOs and said, “It also catalyzed a lot of competing infrastructures to ethereum,” pointing to the fact that there are a lot of new blockchain platforms on the market right now.

On the same show, Barry Silbert, founder and CEO of Digital Currency Group also made some pithy comments about the state of Bitcoin and the other altcoins this week: “When the chair of the Fed saus negative things about bitcoin and Howard Marks says negative things about bitcoin and Ken Griffin says negative things about bitcoin, and botcoin doesn’t move, I think that’s a really bullish sign.”

Silbert also predicts that 2019 will be a good year for both blockchain and cryptocurrencies, with increased accessibility and better understanding of products. He said, “I’m all about the infrastructure that’s required to create the on-ramps and the off-ramps for Wall Street to get involved in this asset class.”

A blockchain platform that will take banking to another level

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