Brock Pierce: Security Tokens Are Going To Give Birth to a Quadrillion-Dollar Market

Brock Pierce: Security Tokens Are Going To Give Birth to a Quadrillion-Dollar Market

Brock Pierce, the former child actor, American entrepreneur, and early adopter of Bitcoin (BTC), recently did an interview with Forbes where he talked about all things blockchain and what 2019 holds for the industry.

According to Pierce, decentralized applications, security token offerings (STOs), and the gaming industry will see substantial development and growth in 2019.

Dapps Will Achieve Millions of Users

The interview kicked off with a conversation about decentralized applications (dapps) where Pierce was quick to say that we will see big things being built in 2019, even stating that some dapps will reach a million users.

He then noted that we are experiencing a major bear market, and that he loves it when prices are low because that’s when big things get built.

Adding to this, Pierce said:

“When prices are up, very little gets built because teams don’t stick around. Everyone is getting rich too quick and that de-motivates people. All the best things I’ve seen built in this ecosystem have been built in bear markets.”

When asked about the current state of decentralized applications (dapps) and what needs to be done to drive real adoption rather than just provide developer testing grounds, Pierce said 3 things need to be done:

“They have to be scalable. They have to be fee-less and frictionless. They have to be fast.”

He then carried on to say that with blockchain technology and decentralized applications we are building the new internet, and that new standards need to be set. He stated that obviously no one will use this new internet if it’s slow, costs money, and doesn’t scale.

Pierce then name-dropped a few dapp and smart contract protocols that are well on their way to achieving this, proclaiming that 3rd-generation protocols like EOS (EOS), Tron (TRX), and Cardano (ADA) are checking the right boxes now.

Security Tokens Will Give Birth to a Quadrillion-Dollar Market

The next topic Pierce was asked about was security tokens and security token offerings (STOs), and how they’re poised to pick up where the initial coin offering (ICO) market left off.

To this Pierce responded:

“Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world’s fiat money, debt market, real estate, equities, and art.”

According to Pierce, security tokens will disrupt the capital markets in a way that ICOs could not. He stated that, without adequate regulations in the blockchain industry, the ICO market was essentially the Wild West where market participants had no protection and scams ran rampant.

Pierce says STOs will have the proper framework to protect investors, stating:

“STOs are designed for investors and can have many provisions that are there to protect market participants.”

The Gaming Industry Will Drive Crypto Adoption

Pierce has a history in gaming and founded Internet Gaming Entertainment (IGE) company back in 2001. Therefore, he is very familiar with the gaming industry and believes gamers and the ever-growing gaming industry will be a major driver in crypto adoption through 2019.

Providing some background on the relation between crypto and gaming, Pierce said:

“The earliest adopters at scale of crypto were gamers. That’s why Korea and China are so big. These were the markets where people played video games and bought and sold virtual currency for games like Second Life and World of Warcraft.”

For this reason, Pierce thinks there’s a very good chance that the community of gamers will drive another wave of adoption in crypto, just as they did in the beginning stages.

What do you think about Pierce’s predictions for 2019? Do you believe that 2019 will be the year for dapps and STOs will capture a quadrillion dollar market? Let us know what you think in the comment section below.

Hot News




Source: Read Full Article