Crypto-Blockchain Technology Gets a Thumbs Up From a UK Newspaper Owner
Over the course of time, the crypto-blockchain industry has gained recognition beyond the internet market. At first, the technology was recognized by the under-developing countries and companies. Then the technology made its way to some of the major economic and tech giants who hunger for technological progress and advancement.
Now, the industry has started gaining attention from the news reporting sector. Everyone knows the kind of role journalism plays in the success and failure of any sector. And to receive praise from one of the largest newspaper firms based in one of the first world countries cements the base of a particular sector.
The same has been the case with the cryptocurrency industry as just recently, it got recognized and praised by a billionaire newspaper owner based in the United Kingdom.
Alexander Lebedev is the owner of the United Kingdom newspapers, The Independent and Evening Standard. Lebedev recently shared his view about the ongoing progress and development in the cryptocurrency sector. The billionaire spoke highly of the potential of smart contracts and the cryptocurrency industry.
He stated that the cryptocurrency industry has the potential of revolutionizing the world of finance once and for all.
On October 13, the billionaire’s opinion was published in an eighteen hundred word article in The Independent Newspaper. The article revealed Lebedev’s take on both the crypto-blockchain industry and the traditional banking system.
As per Lebedev, the cryptocurrency industry has the potential to overtake the traditional banking system. The current global banking system is like a parasite that slowly and calmly feeds on the money and savings of innocent people. However, the cryptocurrency and smart contracts technology will ensure that this concept is changed forever.
Once the crypto-blockchain technology takes over, there will be no need of having many employees to look after the financial sector, which is being practiced at present.
Lebedev also commended how the crypto-blockchain industry has made the life of users easier by introducing smart contracts. He stated that smart contracts’ unique attribute is that it allows users to access financial services without the need of an intermediary.