Former Wall Street executive Mike Novogratz has recently predicted that mass adoption of crypto and blockchain is “still five to six years away,” Blokt blockchain and tech news outlet reports July 19.
Speaking at the Beyond Blocks conference in South Korea, Novogratz, CEO and founder of crypto investment firm Galaxy Digital, still expressed confidence that many institutions will come into the industry “in the next two to three years,” claiming that “without that, we will be running in circles.”
However, the mass adoption of crypto and blockchain technology will come not earlier than in a half a decade, Novogratz added
“You won’t see mass adoption until the user experience does not feel like something new and that is still five to six years away.”
Novogratz explained that one of the major obstacles on the way to widespread adoption is the increasing “cost of technical talent” as well as the doubts of conventional investors, which are aggravated by “no clear precedent for the financial industry”:
“Think about how institutional investors operate. It’s hard to tell your boss ‘I have money in places you have never heard of.’ You need a trusted, name custodian — a Japanese bank or HSBC or ICE or Goldman Sachs — to allow institutional investors to feel comfortable.”
See more - https://cointelegraph.com/news/wall-street-exec-mike-novogratz-crypto-blockchain-mass-adoption-is-5-to-6-years-away