How Bitcoin Could Spark A Whole New Economy

The Chairman of the token project which aims to crowdsource water funding in an effort to prevent suffering as a result of the global water crisis, WaterChain Riggs Eckelberry has spoken out to the corporate bitterness towards Bitcoin and cryptocurrencies in general.

Eckelberry is also CEO of a company which provides solutions for water treatment, OriginClear and in a recent Forbes article, he discussed his views on the crypto industry. In his opinion, the bitterness to a two-way street as on one hand, firms want to establish digital currencies and the on the other they want to regulate cryptocurrencies. Last but not least, he feels that a lack of education is prevalent among corporate entities in regards to cryptocurrency.

As Eckelberry stated:

“Yes, cryptocurrencies are based on the blockchain, but crypto is very different, it’s specifically about money. When I first realized that, I pivoted from the path of enterprise blockchain and focused instead on setting up a better way for my industry to crowdfund innovative projects. But I still wonder, why all the fear, uncertainty and doubt around cryptocurrencies? I think it’s probably lack of education.”

Currently, there aren’t that many (if any) digital currencies which are both well-established and both regulated. The love-hate relationship that the mainstream media and mainstream finance have is the outcome. Perhaps this was best put on CNBC’s SquawkBox which holds down Bitcoin after a few years of being relatively positive, putting financial adviser Anthony Pompliano in place of defending Bitcoin and cryptocurrencies overall.

The coins which are well-regulated are all relatively new and as a result of this, it will take time for them to become properly established. Ultimately their use cases are the determining factor in their staying power. Eckelberry makes this point by saying that the most successful altcoin in the world is ‘frequent flyer mile’. As said by CCN, “the utility of the thing is its value. Its lack of fungibility and direct cash-ability is where cryptos have it beat, and certainly, it’s one aspect of the economy that blockchain has yet to fully dominate – rewards programs in general.”

Known as Pomp to his fans, he noted that even though Bitcoin’s technical, historical and psychological past suggest lower lows, he is still bullish on the future for the leading cryptocurrency saying that its future is bright.

The CEO of OriginClear believes that cryptocurrencies will create an entirely new economy, he says:

“The latest wave is the security-compliant token. These are being offered on new, security-compliant exchanges, such as Coinbase. These will, I believe, replace the weaker, unregulated ones, and create a stronger crypto ecosystem overall. That, I think, is what companies considering a cryptocurrency strategy need to understand: As these coins gain mainstream adoption, I think they will create an entirely new economy.”