The great applications of cryptocurrencies may not have emerged yet, said Samir Kerbage, CTO of Hashdex, speaking at Expert XP 2021. , the potential for innovation would be enormous and transformative functions are still developing.
Samir points out that professional investors, who previously ignored crypto actives , are starting to pay attention to and trust digital currencies, putting pressure on regulators to create security rules. This helps to promote the use and creation of new functionality for the technology.
Among the recent advances, the CTO of Hashdex highlights the race of smart contract platforms for the growth in scale of their tools. He comments, for example, on Ethereum’s potential to become the new internet, known as web 3.0, and to replace intermediaries such as notary offices. Samir says that Ethereum would be like a new commodity in the digital environment and that the greater the demand for decentralized services, the higher its market price.
Samir also commented at the event on the variation in the price of bitcoin throughout the year, attributing the instability to China’s decision to ban cryptocurrency mining in the country and to Elon Musk’s narrative about the environmental damage caused by the asset. However, the expert argues that the rapid recovery in the price of bitcoin reflects the increase in investor confidence.
The CTO classifies bitcoin as an “emerging store of value”, that is, digital currency has the ability to function as a monetary security, but society still has doubts about its competence. However, the increasing interest of investors in the asset creates a positive scenario for bitcoin in the long term.
[Development of Ethereum](https://www.blockchainx.tech/erc20-token-development) has growth potential to be the new internet, says Samir Kerbage