February 17, 2018 12:22 AM
The sharks seem to be circling cryptocurrencies; a fourth “Shark Tank” star has spoken out about blockchain technology.
In a post on his official website, businessman, entrepreneur, and “Shark Tank” investor Robert Herjavec shared his thoughts on cryptocurrency and blockchain technology.
In the message, Herjavec didn’t mince words: “There’s no doubt that bitcoin is going to crash one day.”
Similar views to Herjavec include those of fellow entrepreneur and “Shark Tank” star Kevin O’leary, who said in a December 2017 interview that the volatility underlying cryptocurrencies like bitcoin, made it a poor fit for transmitting value.
Beyond the bubble, Herjavec speculated that blockchain technology “is not only going to disrupt the transportation industry, but also real estate, contracts, all kinds of technologies.”
According to Herjavec, “There’s also no doubt that blockchain technology in terms of the payment system will last for a long time.”
Herjavec also explored the capacity of blockchain platforms to govern personal identity. He said that the technology has the power to put data back into the hands of consumers which would otherwise be managed by a central authority, so that people will be able to “present the minimum amount of identifying information needed to make a secure transaction.”
Herjavec’s sentiment on the positive impacts of blockchain technology seems to be shared by fellow entrepreneur, shark, and CEO of the FUBU apparel company Daymond John. In late January 2018, Johnson responded to an inquiry on Twitter during his #DJForScience ask-me-anything event.
Including Dallas Mavericks owner and serial entrepreneur Mark Cuban, who has actively invested in blockchain startups and even hinted that he might one day accept cryptocurrencies for tickets, four “sharks” have expressed their opinions on the subject of cryptocurrencies.
Herjavec likened blockchain technology and the internet to electricity; people don’t notice how useful these things are until they stop working. “Blockchain will have that degree of impact. At the end of the day … blockchain is here to stay!”
Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.
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