Jeremy Allaire, the CEO of Circle, states that humanity would not be able to survive the digital age without crypto as its resiliency and decentralized nature make it indispensable. Allaire gave the aforementioned statement at the 2019 World Economic Forum in Davos, Switzerland.
Allaire mentions that cryptocurrency minimifidians are merely that way because they’re unfamiliar with the new technology.
On January 23, Allaire said that people throw around crypto like it’s a bad thing and is scary. He added that cryptography is at the foundation of protecting modern society and human privacy. He added that crypto is a fundamental tool of our cyber defenses and a fundamental tool for every corporation.
He further pointed out that modern society relies on digital infrastructure. According to him, humanity eventually won’t be able to survive the digital age without digital currencies.
As per him, some believe that traditional bankers love to scrap cryptocurrencies and digital assets because they’re secretly susceptible that cryptocurrencies will make legacy financial institutions obsolete. Nonetheless, Jeremy Allaire insists that central banks and the cryptocurrency ecosystem can co-exist.
Allaire says that people are huge proponents of central bank digital currency and they believed in that for a very long time. One’s view is that the creation of cryptocurrencies and digital assets that are based on central bank money is happening in the private sector first. They launched USD Coin last fall and it’s mounting rapidly.
Allaire mentions that cryptocurrencies and digital assets are versatile because they can run over a blockchain that works interoperably with millions of digital wallets around the world.
It can be used in payment transactions and in lending transactions. Furthermore, it allows you to make dollar payments globally. These payments can be made at pennies and in seconds to minutes. It’s a powerful innovation.
Allaire reconfirmed his bullish outlook from December last year. He predicted that the bitcoin price will rocket over the next three years, at the height of the bear market.
Allaire believes bitcoin has a very important role to play as a non-sovereign and scarce store of value, regardless of its daily price.