Ethereum Will Be Worth $1,000 in Couple of Years: Aragon Co-Founder

in bitcoin •  7 years ago 

Ethereum-.jpg
Fred Ehrsam, Coinbase co-founder, has said at Y Combinator Demo Day 2017, an annual event held by one of the most prominent and leading venture capital firms, that only two startups out of 130 are building Blockchain-inspired products.

It has become quite evident that demand towards Blockchain technology and Blockchain-based applications from the global technology industry has increased significantly over the past two years.

Multi-billion dollar technology conglomerates and financial institutions including Visa, Microsoft and IBM are actively hiring Blockchain developers to successfully deploy decentralized infrastructures in their existing networks.

A shortage of Blockchain talents
However, there is a shortage of Blockchain developers and experts within the technology space because as Luis Cuende, the co-founder of Aragon, an Ethereum startup that raised over $30 mln in 1.5 minutes through its initial coin offering (ICO), noted, there aren’t many Blockchain developers that are not millionaires yet.

Through ICOs, Blockchain startups and developers can easily raise money in a transparent and open market from a wider range of investors in a shorter period of time with fewer conditions.

“I don't know any good Ethereum developer that isn't a millionaire, and it's only a matter of time before it will become a gold rush among developers to learn the technology,” said Cuende.

Ethereum price can reach $1,000
More to that, in consideration of the rapid rise in popularity of ICOs, Cuende explained that he sees Ether price, the native token of Ethereum, rising to $1,000 in the mid-term.

“I thought it was expensive one year ago when it was at 13 dollars, but today when I see the possibilities created by the technology, I think it's cheap. I believe Ethereum will be worth $1,000 in a couple of years,” he added.

Conceptually, an ICO is a phenomenal, efficient and practical method for startups and developers to use in raising capital to fund their projects.

Not only do ICOs allow startups to secure investment in shorter timeframes, but it also provides a real-time valuation to the software being developed.

For instance, the market cap of Blockchain startups that successfully conducted their ICOs including EOS, TenX and IOTA can be publicly accessed on cryptocurrency market data and analytics platforms such as CoinMarketCap.

It is significantly easier and simpler for Blockchain developers and projects to test the open market rather than collaborating with a small group of venture capital firms and angel investors that will inevitably pressure Blockchain projects for lack of high-profit margins and stable revenues.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Not indicating that the content you copy/paste is not your original work could be seen as plagiarism.

Some tips to share content and add value:

  • Using a few sentences from your source in “quotes.” Use HTML tags or Markdown.
  • Linking to your source
  • Include your own original thoughts and ideas on what you have shared.

Repeated plagiarized posts are considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.

Creative Commons: If you are posting content under a Creative Commons license, please attribute and link according to the specific license. If you are posting content under CC0 or Public Domain please consider noting that at the end of your post.

If you are actually the original author, please do reply to let us know!

Thank You!

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://cointelegraph.com/news/ethereum-will-be-worth-1000-in-couple-of-years-aragon-co-founder

hold eth now!