In an interview with CCN, Franklyn Richards, the director of Litecoin Foundation, and the operator of Litecoin.com says that cryptocurrency would most likely be institutionalized.
According to Franklyn, there’s a race going on in the cryptocurrency space to build products & platforms that would cater to institutional investors.
“We have to be realistic, I think centralized institutions have a great benefit to derive from it, and they will pass that benefit onto their users. It’s a race. It’s capitalism. If I can offer my users something better and cheaper, more users will come to me. We’re currently seeing an institutional race to accept this.”
Franklyn also added that by being institutionalized isn’t a bad thing. When asked what he thinks will happen after regulations come in place, he said regulations will inhibit the growth of cryptocurrencies.
“You can’t regulate something without controlling it. All it will do is inhibit its growth. If states are very friendly and welcoming to it (which they should be) that would be better, but even if they put a ban on bitcoin, people will still use bitcoin.
You can take your country out of bitcoin, but you can’t take bitcoin out of your country”, says Franklyn.
On being asked about what would be the Bitcoin 2.0, he says that Bitcoin will always be the number 1, and it’s hard to replace it. He also added without the Bitcoin’s name Bitcoin Cash is worthless. Litecoin on the other hand is different from Bitcoin, it’s independent. But it complements Bitcoin.
Franklyn Richards gave lot’s of insightful information, you can read his entire interview here.
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