"Bitcoin will go to zero" - The Future of Blockchain discussed in Davos

Bitcoin's price can be directed directly to zero, says top investor in Crypto environments during a debate where the focus was on the future of the groundbreaking Blockchain technology.

CryptoLooks had a pretty tumultuous 2018 year, with more than $ 480 billion of market capitalization wiped out. After its record in 2017, Bitcoin began its dramatic decline to its present value of about $ 3 571. According to some experts, the price may fall even further.

"I think the price will really go to zero, I think the technology is incredible, but I do not believe in the derived digital currencies, they are not based on absolutely nothing." - says Jeff Schumacher, founder of BCG Digital Ventures in front of the CNBC panel in Davos, Switzerland.

Schumacher is a big investor in blockchain - oriented companies. During the debate, Glenn Hutchins, co-founder of Silver Lake Partners, says Bitcoin's role in technology will still be secondary.

"It is possible that Bitcoin's role in the system will return the real value of the asset, generate real value, and at the same time own other tokens that are not of practical use to you." - says Hutchins.

Schumacher says the industry is currently trying to create an open decentralized system. This will surely be the next generation of protocols to form the new infrastructure that businesses could exist, just like the cloud systems today.

Source: CNBC

Photo: Pixabay

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