The former head of the Meta blockchain division and ex-president of PayPal, David Marcus, suggested that the crypto winter will be completed only by 2025, when the market recovers from last year’s shocks.
Lightspark founder David Marcus explained that the reason for the prolonged bearish trend was the unethical behavior of some players in the cryptocurrency space, including the collapse of the FTX exchange. Restoring users’ trust in the industry will take some time. However, the use of the latest technologies to solve the pressing problems of humanity can restore confidence in the industry.
Marcus believes that the times will soon pass when you can create a token out of thin air and earn millions of dollars on it. Decentralized applications that have practical value for the real world will gain much more value. Marcus expects big breakthroughs in payments, asset tokenization and decentralized finance (DeFi).
The former Meta top manager believes that users will become more interested in zero-knowledge proof and proof-of-reserves technologies, and first-level scaling solutions. Marcus is sure that interest in the Bitcoin network will also increase. The Lightning Network has promising prospects as a compatible and cost-effective service with which you can make payments in real time.
Marcus doubts that the legislative bodies will be able to develop rules for regulating cryptocurrencies in the near future, so in 2023, crypto companies will continue to work in a “vacuum”, at their own risk.
Note that not everyone agrees with Marcus’ opinion that crypto winter will last for another two years. For example, Morgan Creek Capital CEO Mark Yusko is confident that favorable conditions for the rise of the cryptocurrency market may arise in the second quarter of this year.