Circle CEO Says Hundreds of Millions of Pople Will Use Cryptocurrencies Soon

Suzat

December 9, 2020 11:47 am

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Team members from Facebook’s ‘Diem’ Association, Circle, Soramitsu, and Coinbase discussed how and when cryptocurrencies are going to be mainstream during the Singapore Fintech Festival. During the conference, Jeremy Allaire, CEO at Circle stated that “third-generation blockchain technology” would see cryptos “in the hands of hundreds of millions, if not billions of users.”

The panel was featured among the CEO of Facebook’s ‘Diem’ Association (formerly known as Libra Association) Stuart Levey, Surojit Chatterjee, CPO of Coinbase, and Makoto Takemiya, CEO at Soramitsu to discuss the topic: Can Digital Currencies Birth the Next Generation of World-Class Payment Systems?.

Circle CEO said that cryptocurrencies are still very early in their development but are going to take a leap similar to that from dial-up internet to broadband. 

“We’re right on the cusp, of what I like to think of, as the broadband moment of digital currency.”

Makoto Takemiya said that the current user experience of crypto remains a barrier to widespread adoption, despite the underlying technology already being “good enough for everyday use.”

Allaire countered that the focus of much of the innovation in the sector has shifted towards the consumer experience, and predicted that improved user experiences will allow ordinary people to become hooked on crypto’s advantages:

“Users will be saying, ‘How could I ever have not had this before!’”

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