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Written by Baaba Hughes
on May 11, 2018

There are thousands of theories regarding which crypto will become the dominant digital currency. But will there be a single winner? With the rise of Security Tokens, this panel explores how altcoins can contribute to the Value of Crypto and Network Effects. 

Corl's CGO Matt Ward was joined by Tim Draper, the Founder of Draper Associates and an Early Bitcoin Advocate, Jimmy Song, an Early Bitcoin Core Developer and Blockchain Capital Venture Partner and Kyle Samani, the Managing Partner at Multicoin Capital. This panel’s expertise in Network Effects and passion for Bitcoin, Ethereum and the landscape that these landmark currencies are cultivating was felt throughout the roundtable.

Here are a few of our favourite quotes:

"I love that what it's doing for ... I mean for insurance, it's going to be amazing. Just you're going to get your insurance payments right away, your premiums are going to be taken up, and you're going to get your payments immediately. I think it's really amazing what's going to happen there. Electricity is going to be probably tied to some Bitcoin or some other currencies. There are going to be so many amazing changes because this technology has done so much, and then you said well with the future, I made that prediction a long time ago that in three years Bitcoin would be worth 10,000 and that was when Bitcoin was at about 200." - Tim Draper on Bitcoin’s continued climb
"I am looking at the world as it can be. If you do have a government official that decides that this token is on the blockchain, represents this particular piece of land, they are the centralized party. They're ultimately the authority and if they say okay well that piece of land was bought with drug money, therefore we're not going to allow this transaction. The blockchain says that it belongs to the drug dealer, but we're just going to ignore that. They have the right to do that because they're ultimately the one in authority. Unless you have a digital bearer instrument, none of the benefits of a blockchain actually accrue to that item." - Jimmy Song delves into why most crypto innovators aren’t actually innovating
"...in the next five years, you will see crypto challenge the legitimacy of some governments, like would it be an Argentina or Venezuela or one of those. I think a lot of people think that's 10, 20, 30 years out. I think that's a lot sooner … when there is a credible global alternative to a fiat and then you hit that crisis point in whatever the country is, I think you'll start to see math crypto an option for a consumer retail much sooner than people think, and that will really screw with the government in a pretty profound way." - Kyle Samani challenges the timeline for crypto adoption and what that may mean for gov’t.

If you want to better understand these Roundtable quotes, Tim Draper's timeline for Bitcoin to hit 200K+, why Jimmy Song is not sold on most ICOs and Kyle Samani's take on Cryptokitties, then watch the full replay now:

 

 

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Feature Photo by rawpixel on Unsplash 

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