Riggs Eckelberry is the Chairman of WaterChain, a voucher assignment working towards crowdsourcing water funds for alleviating the difficulties faced due to the current global water crisis. He is also the CEO of a company that offers water treatment services. The company is called OriginClear.
In a Forbes op-ed recently, the WaterChain chairman speaks about the corporate animosity towards cryptocurrencies. He is of the belief that this hatred has a two-pronged nature. On one hand, some companies are on the lookout for established cryptocurrencies and on the other side, they are also on the lookout of regulated cryptocurrencies. Ultimately, he feels that the corporate entities do not have a thorough knowledge of crypto.
Riggs’s Thoughts on Crypto
The CEO further puts down:
It is true that cryptocurrencies are entirely based on the blockchain. However, crypto is quite different. It is entirely about money. When I realised this for the first time, I moved away from the track of company blockchain and instead had my focus on coming up with an improvised way of innovative crowdfunding assignments for my company. But, even at present, I wonder, why all the doubt, uncertainty and fear around cryptocurrencies? I think that this is because of the lack of proper crypto education.
Currently, there are not many or probably any cryptocurrencies that perfectly fit both bills and are both well-established and regulated. The off-again, on-again relation between mainstream finance and mainstream media is the outcome. This week, it was illustrated in the best way when the anchors of CNBC SquawkBox degraded Bitcoin post being positive for a couple of years. This has out Anthony Pompliano, the financial advisor in the position of defending Bitcoin on the whole.
The relatively new coins are the ones that are well-regulated. However, they might take time to become well established. It is also worth noting that their usage is the factor that will be determining their staying ability. Eckelberry makes this point by stating that the most successful optional currency is frequent flyer mile. It is its lack of direct cash-ability and fungibility that has cryptos beating it in the long run. It is undoubtedly one part of the economy that still needs to be entirely dominated by blockchain.