Everyone has been making a huge deal out of bitcoin these past several months. The world’s number one digital currency by market cap has surged in price, reaching a new all-time high just a few weeks ago of $61,000 per unit. However, according to Daniel Gouldman – CEO and co-founder of blockchain firm Ternio – people have the wrong idea, and by focusing too much on bitcoin, they are focusing on just one aspect of what is arguably a much larger arena.
Gouldman: Blockchain Is The Primary Driver of Crypto
In a recent interview, Gouldman states that one of the big problems striking the crypto world as of late is that everyone associates it too much with bitcoin. While BTC is the largest digital asset available, it is still only one portion of what is turning out to be a much larger and grander space. There are many forms of crypto out there, such as Ripple, Ethereum and Litecoin to name a few, and all these coins have their own blockchain networks, which is a whole other aspect of the crypto space that he feels is regularly ignored.
Blockchain, he says, should be the main focal point of everyone involved in the crypto space. He says that the underlying technology behind bitcoin and its crypto cousins is what’s really driving the space, and that people would be smarter to invest in the technology rather than the coins themselves. In a statement, he claims:
What’s happening right now is a convergence. Blockchain technology is the underlying rail. It’s a better, cheaper, faster solution, and it’s the 21st-century modern technology for the banking system.
Businesses are facing new challenges every day, especially now that a global pandemic has ultimately decimated economies all over the world. Gouldman says that blockchain can help to fix a lot of these problems, and that many businesses and companies would be smarter to pay more attention to it and implement it into their operations.
Bitcoin Is Only One Piece of the Puzzle
In addition, he’s confident that all financial institutions will switch over to blockchain, and he feels banks will have no choice but to utilize the technology into their systems at some point later on. He comments:
There are banks right now that don’t even know what’s actually happening and how it’s going to totally change their world beneath their feet. There are a lot of ways to make money in cryptocurrency other than just trading bitcoin. You’re seeing it today with Coinbase, Binance and many other large players in the space. I think it’s the future of all money.
Right now, everyone wants to pour all their attention, energy and money into bitcoin, which Gouldman feels is a common mistake amongst businesses and individuals alike. In the end, he says bitcoin only represents one part of the crypto space – not the entire industry.