CryptoOracle is a New York-based crypto company co-founded by Kerner. The founding partner of this company said that regardless of the current bearish trend in the market, crypto would be a more disruptive technology to rely on than the Internet.
CryptoOracle’s site says it is founded with faith on the blockchain technology and its importance in solving many of the hardest business and social issues.
He further said that Bitcoin is the early leader, just like Yahoo at its time. And due to the fact that this is a massive thing, people are not accepting it right now.
However, in the next 20 years, the scenario will be different. Bitcoins and crypto products would be on the top of the chart. He said that experts in the industry are genuinely predicting Bitcoins to create value worth trillions of dollars, just the way the Internet has. This is just a beginning, he said.
At the point when questioned about the falling prices of the Bitcoin from its record high of $19,500 last December, Kerner said this is on the grounds that the market lost track of the main issue at hand because of unchecked free enterprise.
Kerner said that blockchain would prove to the world that it is better, so will virtual currencies.
“There’s something many refer to as Amara’s Law, which says that the effect of all extraordinary technological changes is overestimated in the short run, and are underestimated in the long run,” Kerner said.
Kerner is stating that the genuine effect of crypto and blockchain would require 20 years from now to get to known and accepted by the world.
“If you take a look at the historical data on currencies, in the long run, 100% of them went to zero; except the one which was around 400 years ago.
No one thinks that we’re going to pay back the liability that we have. We’re never going to pay back $20 trillion or more dollars of obligation.
So, at present, $8 trillion are put in gold, investors put $50 billion in silver, and the Bitcoin is at $60 billion.