“Cryptocurrencies are still going through the stage of natural selection”

According to Christian Gattiker-Ericsson, chief strategist at Swiss private bank Julius Baer, ​​cryptocurrencies are still going through a “natural selection” phase.

The head of the research and investment division Julius Baer noted that cryptocurrencies still do not have an “ultimate” application that would allow them to spread around the world. He said:

“We are still in the process of natural selection according to Darwin’s theory, when various business models are tested, and the winner has not yet been determined. Many cryptocurrencies have a limited supply, which makes them more like gold than fiat currencies. And this is the key difference. It is necessary to ensure the decentralized world the same trust that ordinary currencies have. ”

At the same time, according to Gatiker-Ericsson, the underlying cryptocurrency blockchain technology has a noticeably larger number of possible applications. Top manager Julius Baer noted that blockchain could change the rules of the game.

“We are still studying this technology. This is just one more line to which we are getting closer and closer, ”he said.

Recall that at the beginning of this year, Julius Baer Bank announced a partnership with the cryptocurrency company SEBA Crypto AG to launch digital asset services.