Cryptocurrencies will Transform Venture Capital, feels Coinbase CTO
The Former Coinbase CTO and the general partner of Andreessen Horowitz, Balaji Srinivasan has faith that cryptocurrencies will change the way of investment in the upcoming days. The industry has developed its ways to raise finances and allowing the capital to come smoothly.
Blockchain and cryptocurrencies have found its adoption in some of the big companies. They have also impacted the thought process of the people about the way of investing money.
The Former CTO and an Angel investor believe that crypto will be the next to conquer of Venture capital. Having a vast experience in companies like Teleport, Counsyl, Earn, and Coin Center Srinivasan has different views towards the cryptocurrency industry.
In a tweet, he wrote crypto industry can turn every single person into an investor. He has even drawn reference of the advent of internet for crypto, that all of a sudden turned every single user into the editor.
He thinks these digital currencies offers an innovative and exciting way of investment. He even says the crypto industry needs very little to raise capital. As per his words, the money comes from the side-lines and flows like water in the crypto industry.
He feels the industry is going towards the right path in spite of facing so many obstacles. He says the cryptocurrency has a profound impact on society. And this can be understood from the rise of equity crowdfunding, ICO and influencer monetization.
He cited the example of a Pioneer App that used blockchain for the creation of a platform to raise funds for a cause almost instantly. He said capitalist network like this is an advanced way of online crowdfunding.
Peter McCormack, the presenter of a podcast, has said cryptocurrencies have a lot more to prove as a technique of fundraising. He also feels cryptocurrencies has to go a long way before it becomes a competitor of Venture Capital.
Although it is challenging to conclude, but the opinion of Srinivasan will create a light of hope for the crypto industry.