In a recent op-ed, Yong suggested that today’s cryptocurrency space may be somewhat of a global casino, but that shouldn’t distract from the technological…
CHICAGO, ILLINOIS, UNITED STATES, January 19, 2018 /EINPresswire.com/ — DNotes Global Inc. co-founder and CEO Alan Yong recently shared his thoughts on the current state of the digital currency markets, and the industry’s future. In a recent op-ed, Yong suggested that today’s cryptocurrency space may be somewhat of a global casino, but that shouldn’t distract from the technological revolution that digital currency represents.
After discussing how sensational headlines can drive public opinion, Yong addressed what are probably the most pressing questions facing the industry at this moment in time: is digital currency just a bubble that will eventually collapse, or is it a real world-changing innovation that can improve people’s lives?
His remarks left few stones unturned as he directly confronted the problematic nature of today’s speculative cryptocurrency markets, the get-rich-quick mentality of some industry actors, and the knowledge deficit that any regulators and lawmakers face as they try to adapt to this new technological innovation. In his estimation, that’s a recipe for trouble:
“Any or all of those factors could lead lawmakers and bureaucrats to over-regulate the industry, effectively stifling innovation. In my opinion, that would be tragic. For while the digital currency industry is currently experiencing tremendous growing pains, that doesn’t change the fact that we are now witnessing the greatest technological revolution since the dawning of the internet age – with an opportunity for the world to experience the same type of explosive increases in jobs and wealth creation.”
Yong suggested that the current “casino-like atmosphere” detracts from the technology’s revolutionary potential, and makes it difficult for many people to make sound investment decisions. He described the current investment mindset using a term that former Fed Chairman Alan Greenspan once used when referring to market speculation during the dot-com bubble: irrational exuberance.
Yong remains optimistic, however, and said that there are still companies within the industry that continue to focus on digital currency’s real potential for bringing about positive change. He described the important work that Factom is engaged in, as well as his own company’s commitment to providing the world’s citizens with a more inclusive and empowering supplemental currency:
“Digital currencies like DNotes will continue to push the envelope, charting a different course – one that builds the foundation for a trusted digital currency that is both verifiable and inclusive. A digital currency that is accessible and functional for every person in the world, serving as a supplement to traditional fiat currencies.”
About DNotes and Alan Yong:
DNotes co-founder Alan Yong is a well-regarded visionary who established Dauphin Technology in 1988. He is the author of the book “Improve Your Odds: The Four Pillars of Business Success, and is well-regarded as a “thought leader” in the cryptocurrency industry.
DNotes is a digital currency noted for its consistent and reliable growth, and innovative initiatives that actively engage women, young people, small businesses, workers, and others – effectively inviting the world to participate in the digital currency revolution. DNotes Global, Inc. has plans to launch DNotes 2.0 in early 2018, with improved features and functionality.
For more information please visit: http://dnotescoin.com
Name: Alan Yong
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Author: || World Economic Forum