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The cryptomarket in a bear phase
The cryptomarket is melting. The cryptomarket meltdown is a result of the bearish sentiment in the market. The market sentiment has been negative for a while now and it doesn’t seem to be improving. This has seen many people lose faith in cryptocurrencies and want to move back to fiat currency.
Also, the demise of 3Arrows Capital, Voyager and Celsius is not helping with consumer confidence. To add fuel to the fire, the founders of 3 Arrows Capital have disappeared and inflation is soaring, with forecasts talking about close to 10% inflation in the EU, US and the UK.
Nevertheless, not all hope is lost. It could actually be the case that the cryptomarket will emerge stronger after this bear market, as it did with previous one.
Could decentralisation be the answer? We comment on this and more with Lance Parker from BankX.
Lance Parker is the CEO and Founder of BankX.io and LockBox.io, technology blockchain companies. Lance is a 4-time technology company founder and multiple patent holder with more than 2 decades in technology (including selling large enterprise software applications). One of his companies was a mobile security application with 50,000 users and won the CTIA emerging technology award.
He is also the CEO and Founder of ConnectX/LockBox, who is launching a private network of small satellites to store private keys and cryptocurrency wallets for a suite of decentralized applications. Lance worked on a new encryption methodology using geometric shapes with Solomon Golomb, the co-inventor of CDMA by Qualcomm. Because Lance invented a unique concept for securely storing information in satellites, Vint Cerf, the inventor of the Internet, selected him to be on an industry panel for the Interplanetary Network/Delayed Tolerant Network with NASA. Lance has been involved with Blockchain technology since 2014, is a former pilot that studied at Embry-Riddle Aeronautical University and has a degree in Economics from George Mason University.