Gary Vaynerchuk’s Crypto Keynote Event Speech Talks Industry Evolution and Bitcoin’s Future
Gary Vaynerchuk Says Being Patient And Mindful Will Help Shape Crypto Future
The renowned serial entrepreneur and blockchain expert, Gary Vaynerchuk, says that mindfulness and patience will be essential for determining the future of this emerging crypto sector. Also, Vaynerchuk urges all crypto enthusiasts to try and become active practitioners in the trade, rather than wasting their energy and time trying to justify the technology. Here are more details of what he said during the recent Las Vegas ChaninXChange conference.
Transitioning From Raking In A Fast Buck To Improving Decentralization
According to Vaynerchuk, the primary challenge within the crypto world is that most participants prefer generating money rather than working to master and develop the underlying technology. Most crypto devotees have wasted their effort and time over the last few years trying to justify blockchain technologies to achieve mainstream attention. Vaynerchuk is confident that if such people had devoted that time to master the technology, then it would significantly enhance blockchain adoption.
He believes that the industry must start to shift its focus from making quick and easy payouts to using the blockchain technology smartly to make it more robust to the price volatility and negative press. He commented that the insufficient patience among the industry participants was creating a collective weakness, which translated to wild price changes.
The social network influencer and bestselling author also emphasized that blockchain would get the same success as the internet when it was referred to as a “fad” in the early 1990s. Based on the rise of the internet, Vaynerchuk commented that most cryptocurrencies currently in the crypto sector would die out, which is similar to internet ventures and browsers during the initial stages of the internet. However, the crypto sector offers better liquidation opportunities while most early internet businesses were feasting or suffering poor results.
Self-awareness Is Critical
The other notable takeaway from Gary Vaynerchuk’s keynote address was the importance of self-awareness. Being mindful and self-conscious is critical for acknowledging the realistic time that blockchain is going to take to achieve widespread adoption and usage. The adoption of this technology is significantly more vulnerable as compared to the internet due to its tendency for eliminating the third-party middlemen like banks and governments. Blockchain strips down most of their leverage.
Vaynerchuk says that the reason the internet continues to have such a drastic effect on our culture is that it has given back power to consumers. Blockchain technology takes that idea to an advanced level, and that is why it is significantly more susceptible.
Despite many external forces working against blockchain technology to pull it down, Gary believes that this revolutionary technology would not be held down, and would gain prominence with time.