He explained that the most exciting technology to emerge out of the blockchain technology was Bitcoin, and said that it has the potential to disrupt global money. He further stated:
“Bitcoin, as a currency, has the potential to disrupt global money and become a new major form of money maybe even some sort of global reserve currency. I think that really has very far-reaching impacts. I’m excited about other applications, like from Wall Street, you know tokenization of securities and that kind of thing is pretty interesting as well”
He continued saying that he has invested a lot of his time in Bitcoin and added that Bitcoin or “Bitcoin-like” technology has the power to become a global currency. However, he advised caution as it was still too early to determine what the future would look like.
Fenton said that Bitcoin is probably his most favorite implementation of the blockchain technology, but added that he is fascinated by a lot of projects, which are very risky as well. The crypto enthusiast said:
“In the case of Bitcoin, you could lose everything that you put in, and all of these projects could go down to zero they are very risky so I’m always very cautious about any of these projects.”
The CEO also spoke about other projects that he is interested in, including Ethereum, Ethereum Classic, and Ravencoin. He shared his interest in Monero and MimbleWimble, saying that he was intrigued by the privacy aspects that cryptocurrencies have to offer. Fenton said that he is very active with Ravencoin because of its use-case i.e., tokenization. He commented:
“I co-authored one of the Whitepapers; I have been involved in it and working with community…I think…it’s a very cypherpunk type of project, and it has those aligns incentives as there was no pre-mine or founders shares or developers shares or ICO—- or fundraising of any type.”
Fenton said that he was always interested in free-market economics and emerging technologies due to his job at Wall Street. He added that the merging of technology and economics attracted him to the cryptocurrency community. Fenton explained that in 2012, even though he was in Wall Street, nobody was interested in cryptocurrency until he met Barry Silbert.