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Bitwise CEO Highlights Ethereum's Competition with Web 2.0, Not Bitcoin

Hunter Horsley emphasizes that Ethereum's real competition lies in traditional finance and Web 2.0, predicting a shift in how crypto assets are perceived.

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Summary

Bitwise CEO Hunter Horsley stated that Ethereum competes with Web 2.0 and traditional financial services, not Bitcoin. He foresees a shift in the next year away from viewing all crypto assets as uniform, similar to diverse iPhone applications. Over 50 companies in Hong Kong are also seeking stablecoin licenses amid new regulations.

Terms & Concepts
  • Web 2.0: The second generation of the World Wide Web focused on the ability for people to collaborate and share information online.
  • blockchain: A decentralized digital ledger that records transactions across many computers in a way that the registered transactions cannot be altered retroactively.
  • stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve of assets, often used for trading and transactions.