Revolution or failure? Response from EurocoinPay CEO, Herminio Fernandez

In this interview published on May 14, 2022, in the newspaper El Mundo, these were the words of our CEO, Herminio Fernández De Blas, on this issue.

The phenomenon, dubbed the crypto crash, has given arguments to both detractors and defenders, with the former seeing their worst predictions confirmed and the latter saying it is part of a great technological revolution.

Treating cryptocurrencies as just another investment asset, in the way that stocks or bonds are, may be fine when things are going well in the market, but the problem is that they are not an investment asset, or at least not just that. Bitcoin, Ethereum and the thousands of virtual currencies that coexist, are the spearhead of a paradigm different from the traditional financial system; a paradigm based on the blockchain and decentralisation as hallmarks and it is there, in this divergence, where the fracture occurs between those who fear that Bitcoin could go to zero and those who do not give it special importance.

“We are not facing a crash, but a scared market. Cryptocurrencies are a very new project and within that universe there are projects that can fail, as has happened with Terra. There are projects that are risking too much or that have a speculative background and there are people who are investing without distinguishing between those that are worthwhile and those that are not.
Blockchain and the entire DeFi ecosystem are here to stay and will change the entire financial system, industry, the way we work…. It is a revolution, just like the Industrial revolution or the Internet, which, at first, few believed could be integrated into our normal life as it ended up being.

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Source: el mundo.es

Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.