Gemini Exchange’s Cameron Winklevoss: Crypto-winter will lead to lasting innovations
Proponents of the cryptocurrency market never fail to make a splash in the cryptosphere, with many speaking about the future of the field, and the implications of existing technologies. In a recent blog post, Cameron Winklevoss, the Co-founder of the popular cryptocurrency exchange Gemini, spoke about the maturity of the market and the growing interest in cryptocurrencies, among people.
“…The crypto market has matured significantly since then. Bitcoin’s value has gone from around $400 to $4,000 today. As crypto has grown up a lot, so has Gemini. We’ve grown from 25 to 200 employees and celebrated many achievements over the past three years, culminating with our recent mobile app launch.”
Winklevoss claimed that the brightest people were flocking towards the field of cryptocurrencies, with the aim to build on the decentralized, permissionless, and open system. He further said that previously, the industry was a “niche,” but it is now becoming something bigger and better.
In his words,
“Trust is the gap. Despite the enthusiasm, there remains much more work to be done to change the public perception of crypto. Recent events like the losses at QuadrigaCX have harmed a lot of people and caused reputational damage for our industry at large.”
The Gemini President added that the ongoing crypto winter will lead to lasting innovation, as the hype of late-2017 hid a lot of bad projects in the hype. Right now however, every single project needed match up to a certain standard. According to him, products built in today’s time would “shape what money looks like tomorrow.”
The Winklevoss brother were previously in the news after Tyler Winklevoss claimed that “every Bitcoin issue has never been a Bitcoin problem.” He touched upon the advantages that crypto and its technology possessed, and at the same time, debunked claims that Gemini was self-regulated. He said,
“The protocols have rules based on math and cryptography but the rule what we are taking about is the humans who deal with the value on top of the protocol. So, we are a trust company regulated as a trust company to protect your value and that’s usually where the cons happen, it’s not at the protocol level, it’s at the company level.”
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