Brock Pierce, an American entrepreneur who was previously involved with the EOS project (mostly prior to its launch), has said that “we’re going to see big things being built, multiple [decentralized] applications hitting a million users.”
Pierce, whose net worth has been estimated at around $1 billion by various sources, told Forbes in an interview published on March 12th that he “loves the fact that prices are down.” That’s because “when prices are up, very little gets built because teams don’t stick around.”
He added:
Everyone is getting rich too quick [during bull markets] and that de-motivates people. All the best things I’ve seen built in this ecosystem have been built in bear markets.
EOS, Tron, Cardano Will Be Used To Launch Scalable dApps
Commenting on the current state of decentralized applications (dApps), which have seen very low adoption and usage rates when compared to their valuations, Pierce remarked:
[In order to attract more users,] dApps have to be scalable. They have to be fee-less and frictionless. They have to be fast. No one will use the new internet if it’s slow, costs money and doesn’t scale. We are building the new internet, so new standards need to be set. Timing-wise, blockchains that check these boxes are happening now within the 3rd gen protocol; EOS, Tron and Cardano, to name a few.
In response to a question regarding the potential impact of security token offerings (STOs) on the cryptocurrency market, Pierce said:
Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world’s fiat money, debt market, real estate, equities, and art.
Pierce, who’s the chairman of the board at the Bitcoin Foundation, believes that STOs are the “next wave in the evolution of capital markets.” He explained that initial coin offerings (ICOs) were unable to provide adequate investor protection, however STOs “have a framework that … [is properly] designed for investors and can have many provisions that are there to protect market participants.
Gaming Industry Will Be Major Driver Of Crypto Ecosystem Growth
The former child actor, who’s known for his role in The Mighty Ducks series and also as the founder (in 2001) of the Internet Gaming Entertainment (IGE) company, thinks the gaming industry is “going to be a huge part” of the crypto and blockchain industry. He pointed out that the “earliest adopters at scale of crypto were gamers.”
The blockchain industry has really taken off in China and Korea because of their relatively large gaming communities, Pierce noted. He also mentioned that Chinese and Korean “markets [are] where people played video games and bought and sold virtual currency for games like Second Life and World of Warcraft.”
According to Pierce:
It’s that community of users (gamers) around the world that have driven the first wave of crypto adoption and so I think there’s a very good chance that gaming in all its forms will be one of the major drivers of the success of the [crypto] ecosystem.
