Web3 head of Fireblocks: Encrypting the bear market will bring better products

It is reported that Omer Amsel, the Web3 director of Fireblocks, said at the ETH Denver conference that the roller coaster market of cryptocurrency is the driving force for the development of space. The collapse in 2017 and 2018 and the resulting bear market led to the explosive growth of DeFi and NFT we see today, which in turn followed the boom and collapse of ICO in the middle and late 2010. Cryptocurrency has the ability to challenge the limit, then something will happen, and then return to the normal track to think about the next thing. I think this is the charm of this industry.

Interpretation of this information:

Omer Amsel, the Web3 director of Fireblocks, recently spoke at the ETH Denver conference and claimed that the volatile nature of cryptocurrency market is what drives the industry’s development. He explained how the bear market that took place in 2017 and 2018 resulted in the explosive growth of DeFi and NFT, which were previously unheard of. In fact, all of this was preceded by ICO, a similar boom and collapse in the middle and late 2010. Mr. Amsel believes that cryptocurrency has the remarkable ability to challenge the limits, undergo significant changes, and then return to normalcy, allowing the industry to pursue the next big thing. This, according to Amsel, is what makes this industry so appealing.

Cryptocurrency is an industry that is marked by high volatility and unpredictability. As a result of this market’s instability, companies have emerged that make it possible to buy and sell cryptocurrencies in a more controlled and secure way. Fireblocks is one of these companies. They work on making transactions of digital assets more secure with their blockchain-based platform. Mr. Amsel’s comments make it clear that the failures and bear markets of the past have contributed just as much to the development of cryptocurrencies as the successful market runs. This is a testament to the resilience of this industry and its potential to significantly disrupt traditional markets.

Furthermore, the growth of DeFi and NFT can be seen as a direct result of the market decline in 2017 and 2018. Rather than seeing it as a defeat, the fall in cryptocurrency market value served as a catalyst for the development of these new technologies. Moreover, the constant ups-and-downs of cryptocurrency markets have created an environment in which companies can take risks and push the boundaries of what is possible.

Three keywords that can be taken from Amsel’s statement are “volatility,” “resilience,” and “innovation.” The cryptocurrency industry is marked by constant fluctuations, yet this has not deterred the development of new technologies and practices. In fact, it is the exact opposite; the volatile nature of the market has driven these advancements, making the industry more innovative and resilient. Amsel’s statement is a reminder that, even though cryptocurrency is still relatively new, it has the potential to significantly change the world we live in.