Dante Disparte, the CSO of Circle, a crypto peer-to-peer payments firm, believes that the turmoil in the crypto sector over the last year, which has been the worst one for all the cryptocurrencies and crypt-related firms, could mark the handover of crypto technology to more durable companies in 2023. On the 2nd of January, in a blog post for The World Economic Forum, Dante indicated that crypto technology would shift towards steadier hands in 2023.
In the blog post, Dante, the CSO of Circle, the issuer of US-dollar pegged stablecoin USD Coin, highlighted the growing use of crypto in the financial services sector. He suggested that the ongoing bear market and exchange collapses may ultimately be a boon for the industry, which as a result, would pave the way for responsible, always-on internet finance. In the blog post, Dante wrote that just as it took the dot-com bubble bursting in the early 2000s to hand over the future of the internet to more durable companies, business models, and use cases, maybe 2022 marks a handover of crypto technology, and blockchain infrastructure to steadier hands.
In the blog post, Dante, who also serves on the World Economic Forum’s Digital Currency Governance Consortium, wrote that cryptography and blockchain would continue to be an integral part of the modern economic toolkit, despite the horrible year for crypto. Dante, who is a life member of the Council on Foreign Relations, said that the 2022 year for crypto was more akin to a crypto ice age than winter.
Dante assured that despite these setbacks of 2022, mainstream financial services will still look to crypto at some point because the technology remains a protagonist in the global economic world.