The present situation of the world has left cryptocurrency and blockchain technology with much praises, that it is the long awaited and imaginary unicorn the world is looking up to for solutions. In spite of all these, there are still some persons who feel the technology is just being dressed with unnecessary hypes, and it is filled with empty promises and pipe dreams. Thus, probably due to a number of fraudulent cases like scams, theft, phishing, and deceitful ICOs, among others, associated with the technology.
However, the industry has been able to proof itself to some other people among which are important persons and who is who in the tech industry that value implemented blockchain technology into their project, and they are optimistic that the full potential of the technology is yet to be unlocked and a brighter future awaits.
Drumming in support of the technology, the Chinese renowned young entrepreneur, Justin Sun who invented the decentralized blockchain network, Tron (TRX), has for some time been evangelizing the great side of the technology.
This time, the founder of the Chinese Snapchat, Piewo was caught up in a conversation with the noble American economist, Nouriel Roubini who lectures at the New York University’s Stern School of Business.
While the economist who became popular because of his 2008 prediction of financial crises was testifying for a hearing on crypto and blockchain, he dissed digital currency and the technology before of the US senate stating that cryptocurrency is “the mother of all scams and (now busted) bubbles.”
The technology which many perceived as being promising, in his own view seems to be the most overhyped technology ever known.
“It is nothing better than a glorified spreadsheet or database,” Roubini said.
— Beth Ponsot (@bponsot) October 11, 2018
In response to the assertion of the economist, founder Justin Sun made known that he believes blockchain is beyond being a disruptive technology, but rather something which brings a radical change in the way of doing things around the world.
He said all and sundry has the right to their opinion, and for him, as regards the case of Nouriel Roubini, he disagree with him on his sentiment about blockchain technology and Cryptocurrency.
“Very soon, reality will speak louder than words, and blockchain will be the new normal. It’s inevitable,” he said.
He added that in his own perception, “blockchain will be the cornerstone to revolutionizing the production chain, creating a much friendlier environment for global economic growth.”
Tron blockchain technology has been advocating support for the good will course initiated by Binance to use blockchain technology to ease the distress in charity and donation.
Tron foundation donated $3 million to support Binance Blockchain Charity Foundation (BCF) to support its goal.
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.