In a recent interview with the Thinking Crypto YouTube channel, FTX.US president Brett Harrison said that the field expects significant consolidation as it reaches hundreds of unique blockchains.
“Here are a few simple guesses about which I have a very weak opinion. First, I think we will see consolidation in the blockchain space. We won’t have 200 different blockchains. I think we’re going to end up with a couple that’s really, really good and mostly used, and the others will just disappear.”
Harrison later noted that in addition to industry top names such as Bitcoin (BTC) and Ethereum (ETH), he has his eye on rival smart contract platforms Solana (SOL) and Avalanche (AVAX), which specific projects are He talked about surviving.
“Bitcoin will probably happen because this is the first. Ethereum will likely be because it is the first truly smart contract-based blockchain. There are a handful of layer-1s competing for longevity. I think it’s stuff like Solana and Avalanche and we’ll see which of those actually run out over time. Part of that will be the benefits of real technology.”
The head of FTX.US also says he is confident to believe in long-term prospects of the amount of money and business invested in the blockchain space, despite the daily price fluctuations in the market.
“Think of all the institutional capital, venture capital, that has gone into crypto over the last few years. Millions of dollars. Regardless of what asset prices are doing right now, you know there is investment, intellectual capital and [and] technological advances. I think this is a long term bullish for the space. It’s hard to guess what this means for asset prices in the short term, it’s not my area of expertise.
I feel very strongly about the growth of this sector and the technology that develops depending on how much effort is spent.”
23932
