Circle’s CEO: Ethereum-based Blockchain Technology Might Be The Internet Of The Future

The co-founder and Chief Executive Officer of Circle, Jeremy Allaire, has made some strong comments about the future of the internet and the blockchain. According to the executive, blockchain and cryptocurrency will be as broadly accepted by the population as the internet is today.

He also stated that the blockchain technologies that are currently being built on top of the Ethereum blockchain will be the foundation for the future applications. By creating a situation in which you can build on top of a new technology and create new tokens, he believes that Ethereum and the similar platforms have a lot of space to grow in the future.

Circle is a new company that has recently received funds from Bitmain, the giant mining corporation, and it seems to share the same vision of its owner Jihan Wu. Both of them believe that the blockchain is a very important tool for people to use not just as means to an end but also as a way to create new technological infrastructures using it as a central component.

The official site of the company states that this is a platform powered by cryptocurrency that is people-centric, so they intend to use money as a way to unite people instead of dividing it and shape the world for the better while exchanging anything that has value.

The Importance of the Blockchain Technology As A Pillar For The Future

Allaire believes that this technology is an asset that will revolutionize the industry and help it to grow, also being a great way for keeping trust records, specially for institutions. He cites numerous apps on Google Play Store and iOS App Store that already use the blockchain as one of the main reasons to believe this.

Ethereum created a splash last year and, according to him, it empowers the user to build its own apps, tokens and financial contracts, being considerably less restrictive than many older technologies, as long as you understand the technology enough to use it.

He is wary of Initial Coin Offerings (ICOs), though. ICOs multiplicated like crazy last year and many of them were scams or simply mismanaged. Because of this, he warned users against investing in anything that looks miraculous and does not explain how exactly to create the product or how is it going to sustain itself.

The main attractive point of the technology, he says, is for the developers, not as a miraculous way to get funds. App devs will now have a new set of tools that they will be able to use to push the technology forward. Much like the internet, he believes that the users and developers will now have a new layer of infrastructure to create products that can help people.

Allaire has also cited EOS and NEO as two blockchains that have carved a place in the market and that are becoming an interesting choice for the developer that want new options and possibilities. The assets of these companies, like ether, will become as valuable as oil according to the developer.

The boon from investors might not have been a reality in 2017, as a lot of people actually lost their investments, but the future is certainly bright if you are going to believe the CEO of Circle.

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