“Search Engine” Analogy for Cryptocurrencies by Schwartz

Ripple chief technology officer David Schwartz claims that the crypto industry is similar to the search engine industry in 2000. In a recent post on Twitter, Schwartz admits that he doesn’t really have a good idea of what’s affecting the crypto price. According to the Ripple CTO, XRP may be underperforming due to the widespread uncertainty surrounding the crypto ecosystem. But the famous CTO has a rather remarkable theory based on data, experience, and feelings about the industry.

“Imagine when I was working at Google in 2000 and I was telling you how search would be the next big thing and eventually create billions of dollars in new wealth. You may not believe me. The markets certainly didn’t believe that at the time either. But maybe I can convince you and you can really believe it. Maybe you’re in the right place at the right time, like Google. Gradually, the markets start to believe it. And actually, that’s how a lot of millionaires came out at the time. But at about the same time, Ask, Ask Jeeves, Altavista, Lycos, and many other companies. I could have said the same things when I was working. They were in the right place at the right time. And I think crypto is here right now.”

Schwartz says investors are still trying to grasp how big the crypto will be. But according to him, they are not yet ready to determine which projects will become giants of the digital asset space, such as Google, for example.

“Ultimately, as crypto matures, markets will be ready to figure out which cryptos will succeed.”