The chief strategy officer of stablecoin issuer US Dollar Coin (USDC) Circle is optimistic about the future of cryptocurrencies.
Dante Disparte, who is also head of global policy at Circle, says the adoption of cryptographic technology is inevitable in the same way that the information revolution has forced businesses to incorporate information and communication technologies into their operations.
According to Disparte, cryptocurrencies continue to play an important role in the financial sector.
“Arguably, just as boards of directors and executive teams have reluctantly accepted their cybersecurity and digital transformation mandates, the adoption of cryptographic technology is equally inevitable, even if the term sounds like a dirty word. For all its flaws, this technology remains the star of the global financial world.”
In light of the failures witnessed in the cryptocurrency landscape in 2022, Circle’s chief strategy officer says disruptive technologies need to be under the scrutiny of responsible stakeholders.
According to Disparte, the future will be shaped by countries creating cryptographic regulations and policies that promote “responsible competition.”
“The most enduring approach with all disruptive technologies is to offset their harmful effects by putting technologies (like all tools) in the hands of responsible actors and encouraging their responsible use.
Therein lies the regulatory and political conundrum with the epic cryptocurrency busts in 2022. Countries that allow responsible competition will shape the future. Cryptography and blockchains will continue to be an integral part of the modern economic toolkit, despite the great harm these tools could have caused if used by the wrong people.”
Chief Strategy Officer at Per Circle, 2022 could be a watershed moment for crypto tech just like the early 2000s was for internet startups.
“Just as it took the dot-com bubble that burst in the early 2000s to deliver the future of the Internet to more durable companies, business models and use cases, perhaps 2022 marks a delivery of cryptographic technology and infrastructure blockchain with firmer hands”.
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