Government Move Out of The Way, There’s No Stopping The Blockchain Train — Joel Comm
The government is always late to the party.
This was Bad Crypto Podcast host Joel Comm’s sentiment when he appeared on LODE TV this week.
The Blockchain evangelist said the regulators’ crackdown on cryptocurrencies and blockchain simply stems from fear.
“I think that they’re scared of it. There is a new world coming. Out of fear and lack of knowledge they either make bad regulation or they don’t know how to regulate it at all,” he explained.
“Government tends to screw everything up. Get government out of the way and let people manage their resources.
There’s no stopping the blockchain train.”
This is especially true because Comm sees another recession coming where cryptos stand to gain most.
“I don’t think it’s happening nearly as fast as the naysayers and doomsayer out there think but ultimately, when the economy does go south, it’s going to be good for crypto,” he said.
“The collapse of the dollar just demonstrates how weak the dollar and fiat currencies actually are and it will demonstrate how powerful crypto can be.”
A bitcoin advocate, Comm said he also appreciates asset-backed stable coins, as they will provide another safe-haven for investors when the crisis comes.
“Anytime we can have any cryptos backed by real-world assets, they breed confidence in people who are using those currencies.”
As to the future of cryptocurrencies, Comm said the industry is so fast-paced that he cannot predict.
“We don’t know if there’s going to be a handful of cryptos or a million different alt coins. We just want to see the technology implemented and we want to see mass adoption,” he said.
“I’m just excited by the peer-to-peer nature of cryptocurrency.”
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