The founder of cryptocurrency platform Latium has said that market is just beginning its revolution as it steadily continues to dominate the financial market.
David Johnson is the CEO and co-founder of Latium. According to its website, it is ‘the first and only tasking platform to incorporate a totally automated rating system in tandem with a one-to-many task relationship structure.’ It aims to allow a user to create a task for which they can hire one person, or many thousands of people, to complete the task.
Johnson believes that given time, the cryptocurrency market will change how money is used forever, reports The Express.
He said:
I think we are at the start of cryptocurrency revolution.
The digital currency market is continuing to dominate headlines as it steadily gains in value. Bitcoin’s price has soared to new heights, reaching $7,800 on the 8th November. This was pushed along by the news that the organisers of SegWit2x had suspended the planned hard fork due to a lack of support. However, news of this eventually impacted market prices with bitcoin crashing to $5,500 over the weekend. It has since gained in price and is currently trading under $6,500.
Despite this, though, Johnson remains confident in where the cryptocurrency market is heading, adding:
Ten years from now the financial world will look very different to what it is now.
Yet, he admits that not everyone is going to appreciate what is taking place. As an example, he cites Jamie Dimon, JPMorgan Chase CEO, who called bitcoin ‘a fraud’ in September, claiming that it was ‘worth nothing.’
Johnson believes this is simply a sign of the ‘old-guard’ when Wall Street bankers refrain from getting on board with the latest trends designed to move things forward.
He states:
Financial companies who get on board with crypto’s will move into the future. Those who will not, will get left behind.
Many, however, fear that the cryptocurrency market is simply being used by criminals to fuel underground activities, which is why they are avoiding them. Yet, Johnson doesn’t think the market should be painted with the same brush.
He said:
Of course there are bad apples but they don’t represent cryptocurrencies as a whole. I don’t believe that.
Interestingly, as more countries look into regulating digital currencies such as bitcoin, Johnson believes that the U.S. will be the last to take the plunge, claiming that it will take years of regulation before that moment arrives.