Cryptocurrenciy Will Create A New Internet Says Reddit Founder

Alexis Ohanian, the founder of Reddit, says that Bitcoin and cryptocurrencies will “fuel a potential new internet” and it doesn’t matter if the volatility is high.

Ohanian was a guest at the Late Show with Stephen Colbert where he expressed his opinion on cryptocurrency, he stated that crypto acts as a “store of value not backed by a single country.”

Also, he wondered if this idea would sound silly to some people who live in developed countries such as the United States, but he believes that one of the most valuable things of cyptocurrency is the ability to securely transfer assets across national borders. In reality, this would be really beneficial to countries that are less economically stable.

“In so many states, there are uncertainties about government and money. And people see their lives savings disappear. There’s a real value of having a currency that — as volatile as bitcoin is — are still potentially less volatile than some of the states that see hyper inflation,” said Ohanian.

“For so many people in the world to have that security of knowing what’s yours is yours — because it [cryptocurrency] is now digital, it can be transferred with you wherever you are going — is actually pretty empowering.

Also, Ohanian noted that he has stopped managing Reddit on daily basis in January. He has initiated a venture capital fund with the former Y Combinator partner Garry Tan.

Ohanian and Tan have recently taken part in the funding of the sharing economy blockchain startup Origin. This was done through a simple agreement for future tokens (SAFT).

Reddit is looking at cryptocurrencies again. Last week Reddit announced that they are planning to bring back the cryptocurrency payment method for Gold Members, and they are thinking of introducing Ethereum and Litecoin in addition to Bitcoin.

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