Dr. Ben Zhang – a former banker at JPMorgan and the co-founder of Node Real – believes blockchain and crypto are long-term investments, and he thinks entrepreneurs and startups alike need to get involved now before things really explode. Ben Zhang on How Crypto Should Be Viewed Over the last year or so, the crypto market has been subjected to haphazard conditions that have really caused prices to sink. Bitcoin, for example, was trading 70 percent less at the end of last year from where it was at the end of 2021. The crypto industry’s overall valuation dropped by more than trillion during a 12-month period, and things really took ugly (and unexpected) turns. However, while it’s easy to blame inflation and all these other economic factors, Zhang is confident
Topics:
Nick Marinoff considers the following as important: Ben Zhang, Blockchain Technology, News, web3
This could be interesting, too:
Chimamanda U. Martha writes OSL Strengthens Partnership with Solomon JFZ Ahead of Hong Kong ETF Launch
Temitope Olatunji writes Japanese Metaplanet’s Purchase of Bitcoin Worth .25M Signals Growing Corporate Adoption
Godfrey Benjamin writes Here Are 3 Major Recent Cardano (ADA) Upgrades to Know
Steve Muchoki writes BNY Mellon Invests in Spot Bitcoin ETFs from BlackRock and Grayscale
Dr. Ben Zhang – a former banker at JPMorgan and the co-founder of Node Real – believes blockchain and crypto are long-term investments, and he thinks entrepreneurs and startups alike need to get involved now before things really explode.
Ben Zhang on How Crypto Should Be Viewed
Over the last year or so, the crypto market has been subjected to haphazard conditions that have really caused prices to sink. Bitcoin, for example, was trading 70 percent less at the end of last year from where it was at the end of 2021. The crypto industry’s overall valuation dropped by more than $2 trillion during a 12-month period, and things really took ugly (and unexpected) turns.
However, while it’s easy to blame inflation and all these other economic factors, Zhang is confident the industry fell the way it did due to a lack of innovation. In an interview, he said:
So far, I think business innovation for some specific areas is very good, but there are a lot of areas which lack innovation. I think crypto or web3 or blockchain is still in the very early stages. It’s the perfect time to start your journey as a startup, entrepreneur, or developer in crypto. You can learn some of blockchain’s fundamental technology and some of MetaMask’s wallet management.
He also said that the crypto space needs to be looked at as a long-term investment opportunity. One of the big issues, in his opinion, is that everyone wants to rush in, make a little money, and then sell their stashes as soon as they see some gains. This is the wrong idea, Zhang commented. People need to be in it for the long run. Otherwise, the arena is not going to succeed. He says:
We should put more money in the crypto market and look for long-term investment. Crypto and blockchain are still getting a lot of attention. Now we have so many different regulatory frameworks, and it helps improve the downturn movement of crypto. I don’t think too many regulations cause a downturn. The downturn is caused by many factors including the macro economy’s instability worldwide, but there are so many regulatory frameworks, and [they’re] very difficult to follow.
The Growth of Web3
Discussing the implantation of web3, Zhang said:
Web3 marks the next significant advancement in the evolution of the internet. Building upon the foundations of web1 and web2, which introduced user interaction[s] and social media, web3 represents a transformative leap forward. Powered by blockchain technology, NFTs, and cryptocurrencies, web3 is set to revolutionize the online landscape. Web3 environments are revolutionizing the gaming industry by enabling the creation of video games that utilize blockchain technology. Through these games, players can leverage the power of non-fungible tokens and token rewards within the game to earn profits.