Today on Digital Trends Live, we brought on cryptocurrency expert Eric Lamison-White to help us understand Bitcoin and the ecosystem it lives within.
Lamison-White‘s quick definition of Bitcoin is “a form of peer-to-peer electronic cash.” His role within the Bitcoin world is running a market insight platform, called Pareto Network, that uses blockchains primarily to drive how information about Bitcoin is curated.
He got involved with Bitcoin back in 2011, when he was working for a company that was trying to build a mobile wallet. When Bitcoin’s wallet came out ,it did exactly what his company was attempting, so he decided he would become an expert in everything cryptocurrency.
He now has a patent for Stablecoin, which helps Bitcoin not seem so volatile. “The Stablecoin is a way to stay inside the crypto ecosystem, but still have stable value. Usually, it’s a parallel digital asset that is tied to a U.S. dollar or something like that. … People don’t have to cash out, they can stay in and continue commerce, as well as being well-positioned to speculate what they want without having to deal with bank transfers and delays.”
Lamison-White says there are currently 50 different Stablecoin projects out there. “A lot of founders are consolidating a lot of capital, getting a lot of funding to launch these Stablecoins,” he said, adding that consumers haven’t yet caught on to the value of this new form of protection.
He explains the patent “parallel asset that people move their money into — this implementation doesn’t pull value away from the actual cryptocurrency.”
Since Bitcoin and other cryptocurrency have seen some recent volatility, we asked how he sees the future panning out and what people should do.
“With Bitcoin and cryptocurrancy,” he said, “you have people buying them for this infinite price improvement, as if it was their chance to get in on a low-price stock, but that is the wrong approach to this economy. With that in mind, in the near term,there are compelling reasons for Bitcoin and cryptocurrency’s prices to be a lot lower. In the longer term, as all this infrastructure improves, you’ll see a lot more money pouring into or meeting public resource, and that just makes it more scacre, which usually means higher prices.”
With Pareto Network, he is heavily focused on cryptocurrency and looking at it from a more holistic point of view to help people understand what they are truly putting their money into and how it will work for them in the future.
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