In our recent exclusive interview with OKCoin CEO Tim Byun, we asked him some important questions regarding the current state of the cryptocurrency market. One of them was about his opinion on the ongoing crypto-winter. In response, Tim Byun said:
We’re in a bear market and most recently a steep correction, which reminds me of the dot-com crash of 2000. I am confident that we will come out of this bear market with innovative companies that will lead the digital asset innovation, just like the innovative internet, ecommerce and social media of the post 2000 internet era.
What surprised us was his view on what he thought would disrupt the market, possibly causing a trend turnover:
It won’t be security tokens that are mere asset-backed securities of traditional assets (even though this could be exciting and beneficial to Wall Street including as a superior feature to Collateralized Debt Obligations specifically). My guess is that we’ll see a few good projects transition to mainnet and demonstrate clear use cases that could be revolutionary (think a service like Google Search) or novel (think a service like Facebook)… we have yet to see crypto ecosystems equivalent to Google nor Facebook, but it’s coming.
You can read the full interview with OKCoin CEO Tim Byun here.