Brock Pierce Hails Blockchain Tech As A Way To Financial Inclusion, Praises Bear Market Cleansing
Brock Pierce Hails Blockchain Technology As A Way To Financial Inclusion
- Blockchain Capital Founder Brock Pierce has stressed the role of blockchain technology in creating a democratic global financial system
- He also says the 2018 bear market has rid the market of bad actors
The Founder of Blockchain Capital (BCC) Brock Pierce has stressed the importance of blockchain technology in achieving financial inclusion for all. Speaking in an interview on the sidelines of the AIBC Summit 2019, Pierce stated that the most important role of blockchain technology is in ensuring financial inclusion.
“Most of us take having access to a bank account without the fear of getting robbed. But that’s not true for the majority of the population of the (underbanked) planet,” he said.
He also veered into the 2018 bear market which he said helped in removing bad players from the market. According to Pierce, some people have entered the market not because they want to stay but to make a quick buck regardless of the means and the bear market served as a testing ground to remove everybody with an impure motive.
He also issued a note of warning to investors, saying they should be careful while entering the industry as blockchain’s immutable nature makes it almost impossible to reverse wrong decisions made while in the space.
Pierce also spoke about the decentralized nature of blockchain technology and its role in democratizing the global financial system. As the technology is decentralized, it allows all participants in the market to hold stakes and play crucial roles in determining the direction of things. This way, a true democratic setting is established in the market. This in turn ensures financial stability for users, he said.
Pierce is known for his contributions to the cryptocurrency industry. Being a cryptocurrency enthusiast, he and his brothers Bart and Bradford Stephens founded Blockchain Capital in 2013. He later launched an initial coin offering that led to the creation of EOS in June 2017, managed by Block.one. He has been named among the top 20 wealthiest people in crypto by Forbes Magazine.