Key facts:
The adoption of bitcoin is in the first phase as the internet in 1997, says specialist.
As the crypto winter passes, he believes that cryptocurrency will grow alongside good projects.
“With the current market conditions, definitely what everyone is seeing now is the drop (in prices).” These were the words of Charles González, the Komodo Platform business developer, at the Blockchain Summit Latam conference about his view of the crypto market.
González added that in this scenario most projects that have “no substance” are going to die. It also highlights that these are the circumstances for good products to survive and grow. “The best of crypto has come out at times like these,” he alleges in reference to the top projects out there today.
Considering that, it summarizes that what people see from the outside is that the prices of cryptocurrencies they’re just going down. But he highlights that what he sees, as a developer, is that there is growth and he thinks that should be the focus in this context.
Adding to this thought, Roberto Cerrud, who is a Blockchain Solutions Architect at Vortecs Latam, added: “I feel like I am in the trenches and that the media is talking about something that has nothing to do with what is happening in the trench”.
He estimates that he sees that there is more and more development and he feels as if they are just getting on the bandwagon and have not yet started it. “This is just getting started,” she enthused, adding: “adoption is what comes ahead”.
This is the prevailing thought among bitcoin enthusiasts and the cryptocurrency ecosystem who attended the Blockchain Summit Latam. From their perspective, the adoption of these assets will grow, so they consider that there is still a lot to be built and there is a great opportunity.
Some cryptocurrencies will cease to exist while bitcoin grows, specialists estimate
Alejandro Beltrán, the manager of Budapuntocom in Colombia, added about the current crypto winter that people should reflect on what type of asset they invest in. He acknowledges that not everything has growth potential within the crypto world, as well as adding that in this bear market several cryptocurrencies will be “purged”.
From your point of view, do you think that bitcoin (BTC), the main cryptocurrency in the market, is like the internet of 1997. By way of comparison, it shows that the potential for growth in adoption is enormous. Cerrud even maintains that he may be older.
As a summary, Alejandra Pacheco, the leader of accelerators and ecosystems of Blockchain Academy Chile, added that We are in the first phase of adopting the cryptocurrencies. In this sense, he believes that issues such as risk, price volatility, user experience in existing projects and those that are coming to improve the community experience must be considered.
“If you want to ensure that this adoption can truly achieve these goals, you have to start by educating and making these services as simple as possible,” concluded Pachecho, who led this panel at the Blockchain Summit Latam conference called “a look at the role of cryptocurrencies into the future.