Saturday, January 22, 2022

Pantera Capital CIO: 50% Of World’s Financial Transactions Might Involve Ethereum (ETH) in 10 Years

Joey Krug, the co-chief investment officer (CIO) of Pantera Capital, a popular crypto hedge fund, has stated that Ethereum (ETH), the second-largest cryptocurrency by market cap, has the potential to dominate the world’s financial system.

In an interview with Bloomberg, Pantera Capital CIO said within the next 10 to 20 years, he expects 50% of the world’s financial transactions to involve Ethereum (ETH), citing the assets underlying technology.

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In the course of the conversation, Krug acknowledged the fact that Ethereum has lots of competitors in the industry. He, however, stated that the blockchain will continue as the number one smart contracts platform.

Joey Krug noted:

If you roll the clock forward 10 to 20 years, a very sizable percent, maybe even north of 50%, of the world’s financial transactions in some way, shape or form will touch Ethereum.”

Krug, who is an early decentralized finance (DeFi) developer, is optimistic that competitors will eventually make Ethereum their base once the much-anticipated upgrade from proof of work (PoW) consensus algorithm to proof of stake (PoS) is successfully completed.

The upgrade is expected to validate transactions that are more efficient and environmentally friendly than the current system of validating transactions.

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Pantera Capital CIO added that “There’s too many trade-offs other chains are making that Ethereum is not making on the decentralization side that are pretty important.” He further stated that he doesn’t “know if they’re best suited to be the new global financial settlement layer.”

Pantera Capital is one of the earliest digital asset investment firms. In 2013, the firm launched the first investment fund focused on Bitcoin in the United States. As stated by Krug during the interview with Bloomberg, Ethereum (ETH) sits among Pantera’s top three positions across funds.


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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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