Charles Hoskinson, CEO of IOHK – the team leading up development on the Cardano blockchain – and one of the original founders of Ethereum, has espoused his belief that the long-term outlook for crypto markets is as bright as ever, despite the market slump that has been occurring over the last six months.
What’s often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That’s tens of trillions of dollars entering the space eventually. Future is bright.
— Charles Hoskinson (@IOHK_Charles) June 21, 2018
Wall Street Entry into Cryptos a Game Changer
Whilst Hoskinson’s remarks were broadly well received on social media, he does carry a history of being particularly bullish on the long-term outlook of both cryptocurrencies and blockchain technology, once having described the former as possibly the “greatest invention of the last 500 to 1000 years” and “likely to become the leading mainstream currency by 2030.”
“Where I do agree with Hoskinson is that when and if crypto breaks into trillion dollar territory, it will likely be the result of Wall Street’s entry onto the market,” states Ali Yazbek, ICO market analyst, in conversation with ICOExaminer. “That will largely be dependent on regulators – primarily in the US but elsewhere as well – ironing out a number of details in relation to how crypto-backed assets are viewed, not least in terms of current accounting standards. When that happens, we are looking at a potential market game changer.”
Hoskinson, an original founder of the Ethereum blockchain, is thought to have left the open-source project on account of “creative differences” with Vitalik Buterin, before eventually becoming CEO of IOHK, a blockchain-focused engineering and research house which has been at the forefront of developments for Cardano, an enterprise-grade blockchain technology.