Today, on April 26th the cryptocurrency market has turned green as the majority of cryptocurrencies have gained over the last 24hrs. Also the crypto market has seen over $100 billion entering into the crypto market and this inturn has increased the global cryptocurrency market cap from $1.76 trillion to $1.87 trillion accounting for 5.26% increase within 24hrs.
On the other hand, Raoul Pal, former Goldman Sachs executive, is of the opinion that the Blockchian technology will become mature and claim a new horizon even in terms of bear market.
Web 3.0 To Lead The Internet!
In a recent interview with BitBoy Crypto Youtube channel, the former Goldman Sach executive, Raoul Pal, asserts that Web 3.0 will lead the internet and then governments will launch their own cryptocurrencies in the form of central bank digital currencies (CBDCs), which most of the governments have already done. Raoul Pal is seen claiming that,
“People are writing off the Web2 platforms. Like Facebook Meta, it’s not going to happen. [Same with] Twitter. Cut forward to five years, they’re going to have Web3 integration….. Within five years, we’ll have also launched the central bank digital currencies, whether they’re private sector ones like Circle or whether they’re public ones. Maybe the [European Central Bank] tries to go public….. We also know that all of the investment banks are now building out all sorts of products in the space. The ability for people to trade options. So that’s all coming too.”
On the other hand, Raoul Pal is of the opinion that venture capital investments (VC) will get into the world of cryptocurrencies. According to him, bear markets are where the people should focus and Pal believes that news products are developing along with solving the existing issues such as crypto wallet security. Here Pal quotes
“We know there’s a whole raft of new investment management products. But the big thing that just happened was $32 billion last year went into VC. You see it written on Twitter, is what you do in bear markets is build. This is when you start building businesses…. The wallet issue is going to get solved. Integrations everywhere are going to get solved. That’s all coming.”
Also Raoul Pal looks forward to other areas of entertainment and culture to get into social tokens which will help in brand awareness and through this communities can profit from their favorite sports team or musicians.
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Source: https://coinpedia.org/opinion/where-web-3-0-will-be-in-the-next-5-years/