Jerry Fragiskatos shared his opinion on the current era of the crypto sector and indirectly claimed that huge numbers of crypto projects will collapse.
Cardano is a popular Proof-of-stake (PoS) crypto network and is known for its ability to process crypto transactions at low cost & high speed. Charles Hoskinson is the founder of this crypto project. Input Output Hong Kong Global (IOHK) is a developer team behind the Cardano Blockchain.
On 4 December, Jerry Fragiskatos, IOHK’s chief commercial officer, appeared in a new interview with crypto analyst Scott Melker at the Messari Mainnet Conference in Manhattan.
Through the interview, Jerry said that four years ago he compared the crypto sector as an initial phase of the internet world (timeframe of the 90s) where huge numbers of online tech companies were entering the internet world & also Investors were showing significant Inclination toward such projects to gain better returns.
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He also noted that when the majority of the companies in the 90s collapsed then few companies emerged as successful companies because of their best business model, for example, Amazon.
Jerry noted that the Crypto sector is now in the dot-com bubble phase
“The long game is the game. When I first started like four years ago, I said we’re in the ’90s of the Internet. We’re probably in the dot com right now, ’99 to 2000…”
According to IOHK chief Cardano (ADA) will stand up as a perfect project in the Crypto’ dot-com bubble and also will stand perfectly against the critics.
Further, Jerry indirectly talked about the decentralised nature & non-partial distribution of the ADA token. He said that there are not many insiders behind ADA coin because its distribution is among retail traders instead of VCs, which is a very usual thing in the case of other crypto projects.
Read also: Nigeria bans ATM withdrawal to push CBDC adoption
IOHK chief compares crypto with the dot-com bubble
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