David Marcus, former head of blockchain division Meta and ex-President of PayPal, suggested that the crypto winter will end only by 2025, when the market recovers from last year’s turmoil.
Lightspark founder David Marcus explained that the reason for the protracted bearish trend was the unethical behavior of some players in the cryptocurrency space, including the collapse of the FTX exchange. Restoring user confidence in the industry will take some time. However, the use of the latest technologies to solve the pressing problems of humanity can restore confidence in the industry.
Markus believes that the time will soon pass when you can create a token out of thin air and earn millions of dollars from it. Much more value will be given to decentralized applications that have practical value for the real world. Marcus expects big breakthroughs in payments, asset tokenization, and decentralized finance (DeFi).
The former CEO of Meta believes that users will become more interested in zero-knowledge and proof-of-reserve technology, layer one scaling solutions. Marcus is confident that interest in the Bitcoin network will also increase. The Lightning Network has a promising future as an interoperable and cost-effective service that enables real-time payments.
Markus doubts that legislators will be able to develop rules for regulating cryptocurrencies anytime soon, so in 2023 crypto companies will continue to operate in a “vacuum”, at their own peril and risk.
Note that not everyone agrees with Markus’ opinion that the crypto winter will last another two years. For example, Mark Yusko, CEO of Morgan Creek Capital, is confident that favorable conditions for the rise of the cryptocurrency market may arise as early as the second quarter of this year.
Source: Bits
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