Home / Cryptocurrency / "Most financial institutions will not use bitcoin & # 39;

"Most financial institutions will not use bitcoin & # 39;

<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "2018 was a bad year for the value of cryptocurrency. & nbsp;Bitcoin& nbsp; fell by 74%; & nbsp;ether& nbsp; fell by 84%; & nbsp;XRP& nbsp; fell by 84%. "data-reactid =" 15 "> 2018 was a bad year for the value of cryptocurrency, bitcoin fell by 74%, ether dropped by 84%, and XRP by # 39; 84%.

Nonetheless, believers resist.

Talk to enthusiasts about cryptography who have been in space for years and listen to the same refrains of 2018: the price of activities is not what matters most; the encrypted startups are building tools for the future; they are still the early days of cryptography, just like the first era of the Internet, and so on.

Price of bitcoin and ether in 2018, until December 30th

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "One of these evangelists is Jed McCaleb, co-founder of the exchange of early and infamous bitcoin Mt. Gox; start blockchain-for-bank Ripple and Stellar tokenization protocol, which is associated with stellar cryptocurrency lights (XLM). This year, & nbsp;The commercial branch of Stellar Lightyear has acquired the starting chain of the corporate blockchain. "data-reactid =" 38 "> One of these evangelists is Jed McCaleb, a co-founder of the primitive and notorious bitcoin exchange Mt. Gox, blockchain-for-bank startup Ripple and Stellar tokenization protocol, which is associated with the cryptocurrency stellar lumen (XLM) .This year, the commercial branch of Stellar Lightyear has acquired the startup blockchain enterprise chain.

Jed McCaleb spoke to Yahoo Finance over the year in cryptocurrency, and why he refuses to call the bearish price downturn in 2018. The following is a modified transcription.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Yahoo Finance: we start with the acquisition of Chain by Stellar. How integration proceeds, and how it fits into the popular Wall Street narrative of "blockchain without bitcoin": banks and financial institutions that create closed and private blockchains for their own use. Is that hubbub fading?"data-reactid =" 40 ">Yahoo Finance: we start with the acquisition of Chain by Stellar. How integration proceeds, and how it fits into the popular Wall Street narrative of "blockchain without bitcoin": banks and financial institutions that create closed and private blockchains for their own use. Is that hubbub fading?

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Jed McCaleb: One of the great motivations for Chain was first that & nbsp;these authorized private chains& nbsp; go only so far. It is necessary to have a public network. "Data-reactid =" 41 ">Jed McCaleb: One of the big motivations for Chain was that these private and licensed chains only made you get that far. You must have a public network.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "I think it's true that most financial institutions do not I'm going to use bitcoin, but in my mind, what gives you blockchain is a public record that everyone can see, but can not change it, so the parties can make transactions even if they do not know each other … public chain does not need to be blockchain bitcoin, but & nbsp;if it's not a public chain, then you miss the point. "data-reactid =" 42 "> I think it's true that most financial institutions will not use bitcoins, but in my mind, what offers you blockchain is a public record that everyone can see, but they can not change it. they can make transactions even if they do not know each other, so you still need a public chain, it does not have to be bitcoin blockcoin, but if it's not a public chain, then you miss the point.

Each of all sorts of this industry in one big bucket. But in reality they are all different protocols and are all customized for different use cases. There are some things the bitcoin is good at, some things Ethereum is good at and some stuff Stellar is good at. And none of them can do all things well. This is not the way the software works.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "What is Stellar for?"data-reactid =" 44 ">What is Stellar for?

Stellar is really good at cross-border payments and in the value of tokenizing of any kind. So, if you want a universal payment network, you should probably use Stellar.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In the rest of the cryptocurrency world now, there is this big push for the tokenization of different things, and now there's the & nbsp;hype stablecoinand Stellar has always done this, we did not call it that. "data-reactid =" 46 "> In the rest of the world cryptocurrency now there is this big push for the tokenization of different things, and now there is the hype stablecoin, and Stellar has always done this we did not call it that.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Cryptocurrencies are down in 2018. How does the bear market affect Stellar's business?"data-reactid =" 67 ">Cryptocurrencies are down in 2018. How does the bear market affect Stellar's business?

It's funny when people say that crypto is down. From my point of view, it is still very high. It's down from the peak, but overall, it's very high up. We do not focus much on the price, it does not matter to us too much.

But when prices are high, it means more people are interested and you have money to do more things.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "What do you see now as a general temperature in the cryptography industry, in addition to the price alone? You've been in this space since 2009. If you take a step back, what do you take away from the last few years?"data-reactid =" 70 ">What do you see now as a general temperature in the cryptography industry, in addition to the price alone? You've been in this space since 2009. If you take a step back, what do you take away from the last few years?

It was very interesting. It has grown much more than we initially thought, or at least quicker. It's amazing to me how hype-driven it is now.

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