In Los Angeles many industry professionals have come together for the Crypto Invest Summit to discuss the future of cryptocurrency and blockchain. Chepicap's Matthew Kim is attending the summit as well, and gives you a quick recap of day one of the event. Stay tuned for more analyses and interviews the upcoming days.
Adam was the first speaker of the event. He is the founder and managing director of Boost VC, and is also the son of Tim Draper.
He spoke about the past, present, and future of cryptocurrency. As expected, he was not too worried about the bear market, stating that lower prices merely represent a better opportunity to buy more. For the future, he made two predictions.
1. In 1 year, there will be 3 mainstream mobile apps based on a blockchain
2. In 10 years, there will be more digital currency in the world than fiat
What does @stevewoz think of Bitcoin, what are the predictions of @AdamDraper and an exclusive interview with co-founder of Wikipedia Larry Sanger coming up! Check Matthew Kim's recap of day one on the Crypto Invest Summit in Los Angeles! pic.twitter.com/McgsSJdXBO— Chepicap (@Chepicap) October 24, 2018
“My goal is to travel to another part of the world and take Bitcoin only”
Steve Wozniak is the co-founder of Apple Inc. He emphasized the similarities he sees with the state of cryptocurrency and the early adoption of the internet and computers. Steve said that he loves blockchain technology because it brings power back to the individual. “If it’s between a human and technology, I will always pick human”, he said.
Both Adam Draper and Wozniak made similar comments about the unpredictability of the cryptocurrency market. Draper said that it is difficult to predict the future success of a company when we don’t know what a good product is yet. Similarly, Wozniak also commented on the difficulty of predicting the cryptocurrency market. He shared that when personal computers were first created the memory required to store one song would cost about $1 million. It was understandably hard to predict in the past where we would be with computers today, and it’s the same with cryptocurrency.
Panel Discussion: What will it take for mainstream adoption?
Surprisingly, most of the panelists stressed the importance of education for mainstream adoption. They agreed that better understanding of blockchain technology needs to permeate the public, ridding the world of false rumors about cryptocurrency. Furthermore, the industry needs to cultivate blockchain developers that will be able to fuel the blockchain revolution when the adoption is ready to take place.
John Souza from Kingsland University, the first certified blockchain university, shared that 188 out of the 200 companies they interviewed responded that they have plans to integrate blockchain technology within the next year, but only 12 identified the work force necessary. He highlighted that the development of blockchain developers are crucial for the next step of crypto.
Interview with Larry Sanger and Sam Hamidi- Kazemian
Chepicap was able to conduct an exclusive interview with Larry Sanger, the co-founder of Wikipedia and current CIO for Everipedia, and Sam Hamidi-Kazeman, the president of Everipedia. Everipedia is currently the biggest dApp on the EOS blockchain. They spoke on many subjects, including why they think Everipedia is superior to Wikipedia and the reason they chose the EOS blockchain over Ethereum. The full interview will be coming soon to Chepicap, so stay tuned.