The second day of the BlockShow Europe 2018 convention kicked off with a keynote speech by Wikipedia co-founder Jimmy Wales. Wales stated that cryptocurrency and blockchain are “in a bubble” Tuesday, May 29.
Speaking as a part of a presentation on the target way forward for crypto belongings versus their illustration in the press, the veteran web entrepreneur delivered frank phrases concerning the nascent trade.
“I think this is a space where we’re in serious need of real journalism,” he started.
“…Right now, we are in a bubble, the cryptoworld is absolutely, definitely in a bubble. I don’t think there’s many people who would deny that.”
Wales echoed broader skepticism of blockchain initiatives surfacing in the previous weeks.
Both Andreas Antonopoulos at a Polish convention earlier this month, together with Bitcoin builders Jimmy Song and Johnathan Corgan at the Consensus 2018 convention delivered damning blockchain versus bitcoin verdicts.
This week, even the Chinese authorities determined the common lifespan of a blockchain venture was simply 15 months.
“I’m not here to tell you that it’ll pop tomorrow; things might get even more intense first,” Wales in the meantime continued.
“The thing about bubbles is that you never know when they’re going to end… it might pop tomorrow, but more importantly, it will pop.”