Bancor’s Galia Benartzi: Investor Hodling Stance Must Shift if Focus is on 1 Billion Bitcoin Users
Galia Benartzi, one of the founders of Bancor stated that in order to make digital currency mainstream, and get 1 billion or more users, crypto investors should not be the only focus.
Crypto Assets As Products Not Just As Investments
She also stated that to meet high user numbers, there should be tokens created which will not only serve as investment tools but also as products for the users, and that the biggest brands on the internet such as YouTube, Facebook, and Reddit amongst others have billions of users not because of their investment attractions but because of Services/products they give them.
Galia Benartzi stated this at the current Asia crypto week summit, in which she is in participation with other well known names in the digital asset spheres.
Bancor has remodeled the way by which users trade and invest digital assets by decentralizing the liquidity network, and having a nonstop crypto liquidity between assets. The Bancor’s Co-founder stated:
“many people do buy stocks, but most people that use the products that we think of as the most successful products of the internet age such as Facebook your YouTube your Reddit are buying or consuming products that they want to use rather than products that they want to invest in and wait to appreciate and then cash out”
Tokens In Everyday Use
She also stated tokens will become more largely accepted if it is useful to everyday users, like in :
- Movie tickets
- Services rendered
- Funds transfers via social networks etc
- Then digital assets will gain large grounds in user base.
When cryptocurrency becomes useful in everyday transactions, users:
“will not think of crypto, they’ll think of it as a product, they’ll think of it as a service they will think of it as access to something they want to be in. They won’t think of liquidity networks; they won’t think of blockchains and which blockchain is my token on.”
She says that once the crypto sphere reaches there, then the user target of 1 billion and more can be realized, and that is the aim of Bancor; to make digital currency used in day-to-day products and services.
Crypto Companies Talk On Global Adoption
Although there are talks among crypto exchange companies about making digital asset mainstream, there is a pertinent low cryptocurrency user count.
Benatzi gives the cryptosphere a 1 (on a 1-10 scale) on the world wide acceptance and use of crypto assets, that more efforts need to be made to hit the billion user mark.
Crypto Hike Speculations
Although there are talks in the cryptosphere that with the presence of institutional traders and Bitcoin Exchange traded funds, there will be a hike in digital asset prices, and better use. Benatzi still believes that the growth and large acceptance still depends on the use of crypto assets in everyday transactions.
Though the digital asset values were wiped in the 2018 bear market, with most cryptocurrencies down 80% or more since the value hike in late 2017, and early part of 2018. Currently, some digital assets are leveling out.
Crypto experts speculate that only digital assets that have everyday applications will survive the test of time.