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Ex-Coinbase CTO Claims India Could Be Back-Up for USA ‘Till Crypto Scales’

News
Tue, 06/30/2020 - 12:54
Vladislav Sopov
Engineer and scientist Balaji Srinivasan has given a surprising statement on the possible benefits the Indian IT segment may reap from banning Chinese applications
Ex-Coinbase CTO Claims India Could Be Back-Up for USA ‘Till Crypto Scales’
Cover image via www.youtube.com
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Yesterday on June 29, 2020, it was announced that the Indian government decided to restrict the use of Chinese mobile applications, including TikTok, Baidu, QQ and WeChat. Balaji Srinivasan claims this may have far-reaching implications for the local IT sector.

Tendencies of bans

According to Mr. Srinivasan, the Indian IT segment could grow its own ecosystem and compete with the U.S., China and Russia. He admitted that part of the nation’s population might use foreign applications due to the restrictions put in place by governments.

Balaji Srinivasan predicts the growth of Indian IT segment
Image via Twitter

India is capable of building a clone of every application from the black-list. So, he highlights, ‘hundreds of teams in India have begun work’ on these alternatives right now.

The results of this progress would be useful even for the people outside of India. Mr. Srinivasan outlines that the Indian approach in this sphere is free of political prejudices and restrictions, unlike in China or Russia. So, U.S. citizens unsatisfied with American services could use Indian platforms.

However, the growth of decentralized technologies will put an end to these bans. So, Indian supremacy is possible, but it would only last ‘till crypto scales’.

Searching for good apps

That said, Balaji Srinivasan is treating India as a ‘black horse provider’, which is less subject to U.S. surveillance measures. It may allow India to fill the gap that the banning of Chinese apps has created.

Mr. Srinivasan also invited every development team to showcase the projects they are working on. He announced that he will analyze these products together with legendary investor Naval Ravikant.

Within the framework of their ‘India Stands App’ program, the devs are asked to send working prototypes while pitch decks are not allowed.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
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Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)