- Dante Disparte says that the current market conditions will be a boon to the crypto industry.
- As per Circle CSO, cryptography and blockchain will still be crucial components of the current economic toolkit.
Dante Disparte, the Chief Strategy Officer and Head of Global Policy for the leading digital financial services firm, Circle, admits that cryptocurrency technology will shift to more stable hands. According to Disparte, the instability in the global crypto market over the past year may herald the transfer of crypto technology to “steadier hands” and more resilient businesses in 2023.
In a post for The World Economic Forum (WEF) on January 2, the Circle CSO underlined the expanding utilization of cryptocurrencies in the financial services industry.
Just as it took the dot-com bubble bursting in the early 2000s to hand over the future of the internet to more durable companies, business models, and use cases, perhaps 2022 marks a handover of crypto technology and blockchain infrastructure to steadier hands.
He also expressed the view that the current bear market and exchange collapses may ultimately be beneficial for the sector, paving the way for “responsible, always-on internet finance.”
Will Cryptocurrency Technology Achieve More Stability?
As per Disparte, despite the catastrophic year for cryptocurrency, which he compared to a crypto ice age rather than winter, cryptography and blockchain will still be a crucial component of the current economic toolkit.
In the blog post, he uttered that The year 2022 proved extremely difficult for the cryptocurrency market, with one of the worst bear markets ever recorded and the failure of several powerful platforms. Despite these obstacles, mainstream financial institutions will eventually turn to cryptocurrency because the technology continues to be a significant player in the world of finance, he noted.
Moreover, in a recent opinion piece for the Diplomatic Courier, Disparte reiterated his position, calling it “disingenuous” for bankers to attack cryptocurrency with one hand while attempting to appropriate its innovations with the other.