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- The cryptocurrency market has seen a critical path in the last couple of weeks. While the stability has returned but the recovery remains uncertain.
- Brendan Blumer, the CEO of block.one, posted that if bitcoin continues to grow swiftly, then single chains will move to private chains, institutions will make bitcoin management easy for the users.
- Pointing towards blockchain, Blumer stated that blockchain would not give us complete freedom what we expect, nor it is going to end governments or their capability to track and influence our actions.
The cryptocurrency market has seen a critical path in the last couple of weeks. While the stability has returned but the recovery remains uncertain. The impact of Coronavirus has led to a negative impact on economies worldwide.
Many countries are going through an economic recession. However, the central banks are working hard to stabilize the economic downfall. Despite brisk in the market, some specialists and enthusiasts are choosing to remain hopeful.
Brendan Blumer, the CEO and co-founder of a leading provider of blockchain solution block.one, recently tweeted about the bitcoin growth graph.
If #Bitcoin continues to grow exponentially….
Single transactions will move to private chains, institutions will make #BTC management easy for the masses, and inter-company settlements will dominate the limited bandwidth of the main chain.
— Brendan Blumer (@BrendanBlumer) March 26, 2020
Bitcoin has already begun to grow exponentially
He posted that if bitcoin continues to grow swiftly, then single chains will move to private chains, institutions will make bitcoin management easy for the users. Inter-company settlements will control the limited bandwidth of the main chain.
Blumer is an optimist Bitcoin investor. He further tweeted bitcoin has already begun to grow exponentially and will continue to riven under light and dark pools that will ultimately be non-fungible. For the time being, they will co-exist on a single chain but eventually, the more specific, the better to serve the dark markets.
BTC will change its protocol from what it has in the past
Many countries may require a manifestation of all public keys. If they fail to comply, then it will ultimately result in taking one’s money off-grid permanently with no ability to re-enter the genuine financial system without consequence.
Adding to this, he stated, blockchain ledgers will become best practice, and ultimately government-mandated for limitlessly increasing the number of use cases. However, the auditors won’t work with clients that can’t provably verify the state accuracy of financial accounts—impostors will holdout on old systems.
Per the CEO, Taxation will move to cover more of what we do but not less. As measurable value moves through everything from virtual gaming assets, social medial media rewards, to new forms of day to day employment rules, all will get tracked and ultimately taxed at applicable rates.
However, BTC will change its protocol from what it has in the past. It will be used by companies and governments that successfully regulate chip manufactures, miners, and the public. These advancements will result in more splits by dividing the value onto various evolutionary paths.
Pointing towards blockchain, Blumer stated that blockchain would not give us entire freedom what we expect, nor it is going to end governments or their capability to track and influence our actions. Still, it will increase the efficiency and mutual accountability of the governing process.
Meanwhile, the master coin BTC and other cryptocurrencies will be busy offering a transparent store of value with verifiable supply reliability and self-empowering custody options to the investors. Blumer finds it a big deal.
