Former Goldman Sachs executive Raoul Pal expects the blockchain technology world to both mature and tackle new horizons, regardless of whether it’s a long bear market or not. Also, Pal talks about some altcoin projects. Here are the important parts of the Raoul Pal interview conducted by the Bitboy Crypto channel…
Raoul Pal shared his expectations for the crypto money ecosystem
In his interview with the BitBoy Crypto YouTube channel, Pal said that in the next few years, Web 3.0 will dominate the internet. He says it will happen and governments are likely to launch their own cryptocurrencies in the form of central bank digital currencies (CBDCs). Also on Pal’s radar is the influx of venture capital investments (VC) into the crypto space. He says bear markets are the time people should focus on creating, and he predicts new products will evolve alongside solving current concerns like crypto wallet security. Raoul Pal uses the following phrases:
The biggest thing was the $32 billion that went to VC last year. Build is what bear markets do. This is when you start a business. I’m starting two businesses in the field and everyone is doing something. What will come out on the other side of this is wallets, security… You know, it’s very cumbersome right now. Moving money from your MetaMask to your Ledger and all that stuff is horrible. Wallet problem will be solved. Integrations will be resolved everywhere. That is all.
Altcoin with successful use case: ApeCoin (APE)
Macro investor citing the recently launched ApeCoin (APE) as a successful use case thinks the rise of social tokens is imminent. “I think that’s the biggest thing I always talk about, because I’m also interested in starting a business about it: Social tokens. We haven’t seen them yet. I talk about them and people say, ‘I really don’t know what you’re talking about.
Pal gives as an example the ApeCoin (APE) created based on this NFT collection as we have also reported as Bored Ape Yacht Club and Kriptokoin.com. Pal expects other entertainment and cultural spaces to join the social tokens, both for brand awareness and for communities to benefit from their favorite sports teams or musicians. “We haven’t started where this is going. Every sports team, every big pop star, every movie, movie franchise, fashion brand, it all goes that way.”
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