Bitcoin Whitepaper Mentions and Early Crypto Pioneers Speak About the Future at Recent Event

  • Crypto trailblazers Adam Back and Scott Stornetta recently made an appearance at the Bitcoin 2019 Conference.
  • Both Back and Stornetta believe that as we move into the future, BTC will become better equipped to be used as a legitimate electronic cash medium all over the world.

The recently concluded Bitcoin 2019 Conference (that took place in San Francisco) saw a number of high profile individuals from the crypto world share their views on FB's upcoming Libra cryptocurrency as well as the future of the altcoin market. However, it is worth pointing out that in the midst of the glam and tech-hype, one event that got overlooked by a lot of people was that of Bitcoin’s original developers — Adam Back and Scott Stornetta — sitting down with popular crypto YouTuber Naomi Brockwell, to discuss the future of Bitcoin as well as the industry in general.

Stornetta started off his address by saying that he is a “fundamental believer” in the power of crypto enabled technologies because they allow for the creation/growth of a transparent financial ecosystem.

He then went on to add:

“I’m not a crypto-anarchist, but I certainly am a crypto-libertarian. And I think we are going to get to the world that we want and that we deserve. We just need to find a path that leads from A to B,”

Additionally, he also stated that Bitcoin’s future looked extremely promising and that over the next 8-10 years, he would not be surprised to see DLT (Distributed Ledger Technology) being used within a host of novel digital/economic domains.

Stornetta’s sentiments were somewhat echoed by Back, who too is of the opinion that owing to BTCs monumental growth over the past decade or so, it would not be surprising to see the flagship cryptocoin break new ground and surge even higher than before.

“Blockchain and bearer electronic cash is a whole new sort of building block, and it has implications with smart contracts. Basically, it’s sort of like picking up a new programming language with a new paradigm, and it takes a while for people to natively understand it and reach the conclusion of what kinds of things you could build with it,”

Other Key Points Worth Highlighting

Back believes that the latest developments (associated with Bitcoin) such as the Lightning Network [LN] and Statechains are assisting in the evolution of the currency’s native ecosystem.

As per data released by BitRefill recently, the Lightning Network has already overtaken all other altcoins in regards to their daily tx volumes.

As we move into the future, both Stornetta and Back agree that we will not need a plethora of cryptocurrencies to facilitate our daily payments. Instead, just one or two premier assets such as ETH, BTC will help foster the adoption of crypto across the globe.

In closing out this piece, it should be pointed out that as things stand, Bitcoin is trading just above the $11k mark, while Ethereum is trading for $293.

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