Comcast Ventures Managing Director, Gil Beyda says whether Bitcoin [BTC] is at $10 or $10,000, his team is bullish on blockchain and its application to major industries as well as to upcoming elections. An interview reported by CNBC caused Gil Beyda to be bashed on social media platforms for not knowing much about cryptocurrency and its application.
Comcast Ventures is a venture capital affiliate of Comcast Corporation. Comcast Ventures invests in innovative businesses that represent the next generation of technologies that will change, in their opinion, the way people live, work and interact. Comcast Corporation is the largest broadcast and cable television in the world by revenue.
According to Beyda, Bitcoin and other cryptocurrencies hold a real value. In 2017, people tried to speculate the bullish trend and wanted to get rich fast, but now they have slowed down to reflect on the real application/use of these technologies. Beyda also claims that there will be another surge and people would understand the true potential of the technology.
When questioned on how the venture capital would use its funds on Bitcoin, Beyda says:
“Irrespective of the price of Bitcoin, if it’s $10,000 or $10, we still believe that there’s core technology there that has the potential to disrupt many industries.”
He later went on to compare the rise and cryptocurrencies and blockchain to that of mobile phone technology. He explains how the underdeveloped countries skipped landline telephones and went to having no phones to mobile phones.
The impact of blockchain technology would be less in a developed country that in an underdeveloped country, Beyda suggested.
He also reveals that the company has already invested in four blockchain-oriented ventures, with New York-based startup Blockdaemon being among them.
When asked about the impact of blockchain on a regular basis, Beyda says:
“We are at an early stage as a regulatory framewok is yet to be established. Blockchain is still waiting for that killer app. It will take a year or two before a broader adoption.”
Venture capital firms find it challenging to accurately value projects in the era of Initial Coin Offerings [ICO]. The ICO startups are more suitable for valuing an economy than a business given the multiple players and the moving parts involved with an ICO project.
Brandon Adams, a Youtuber says:
“It’s so cool how the block chain just runs itself. That’s how we can trust it. It’s not like there’s any developers or miners controlling it behind curtains, oh wait”
John Dozier, another Youtuber says:
“You can tell this guy had very little cryptocurrency knowledge. He seems to be winging it and failing horribly.”
“This guy still really doesn’t get it, he can barely even spit out parroted lines I’m so glad the old guard is dying”
The crypto-space has been gaining a lot of traction from many leading companies. Recently, the CEO of NASDAQ, Adena Friedman, during an interview said that the company will consider becoming a crypto-exchange.
Subscribe to AMBCrypto’s Newsletter
Bitcoin SV’s roller coaster price market, R3’s new partnership and more
Crypto News – 22 May – BSV’s roller coaster price market, R3’s new partnership and more
— AMBCrypto (@CryptoAmb) May 22, 2019
Crypto News – 22 May
Ethereum Foundation’s latest update: Ethereum Foundation released a blogpost, highlighting its allocation of funds for the present and future development of the Ethereum network
Read more at https://bit.ly/2wcDJp9
Israel court makes landmark ruling: An Israeli court classified the world’s largest cryptocurrency as an asset, and not as a currency
Read more at https://bit.ly/2JTrJAW
New chapter for Ripple: Ripple’s Pat Thelen was elected onto the U.S Faster Payments Council’s Board of Directors
Read more at https://bit.ly/2YJCr1b
Craig Wright gets attacked, again: The latest crypto-proponent to attack Wright was Monero’s Ricardo Spagni, who called Wright ‘so dumb,’ and attacked his legal credentials
Read more at https://bit.ly/2EBvtnx
CryptoCompare exchange review: Bitcoin [BTC] to USDT market share fell for the first time in 6 months post-Bitfinex fiasco, the report found
Read more at https://bit.ly/2WZfnuX
Ron Paul on crypto-ban: Former Congressman Ron Paul is in the news after he claimed that Bitcoin [BTC] and crypto-ban was highly unlikely as US Dollar will self-destruct
Read more at https://bit.ly/2WrgjLL
Bitfinex launches Tokinex: Bitfinex announced its collaboration with a hybrid Ethereum-based trading platform, Ethfinex, to launch an Initial Exchange Offering [IEO] platform, Tokinex
Read more at https://bit.ly/2HJ27UH
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC] fails to witness improved transaction rates despite surging by 32% over 30 days
Cardano’s Charles Hoskinson confirms ‘blockchain in a box’ approach for Testnets’ assessments
Bitcoin Cash’s [BCH] Roger Ver: Kudos to those who hijacked original BTC and made it expensive, complicated
Ethereum network improves daily transaction numbers and Gas consumption; outperforms Bitcoin over 90 days
Binance sees ‘higher number of orders’ than peak Bitcoin frenzy of 2017; hints at iOS app for Binance
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Tron [TRX]: Justin Sun short-changes new winner; awards USD equivalent instead of a Tesla
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Coinbase extends XRP trading access to New York users; coin pumps by 22%
Charlie Shrem claims when Mt Gox imploded, market created the first “token as debt”
Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron Throne’
Cryptopia: Stolen Ethereum transferred to unknown wallet days after exchange confirms liquidation
Bitcoin [BTC], Litecoin [LTC] can be transacted on Whatsapp, announces Zulu Republic as security concerns remain