Civic Blockchain CEO Says Bitcoin Threatens the Government’s Fiat

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Vinny Lingham

Vinny Langham, popular blockchain entrepreneur, analyst and advisor is no stranger to advocating for Bitcoin, and he has once again lent his support to the industry; saying that Bitcoin threatens the government’s fiat currencies.

The prolific entrepreneur and South African businessman revealed in a recent interview why he thinks the prices of the cryptocurrency market, in general, is bound to rise soon, after a little delay that should be anticipated.

Langham is known for founding and starting a number of notable companies and initiatives in Silicon Valley and outside, with his influence stretching as far as his home country, South Africa. The serial entrepreneur who co-founded the popular Gyft platform, and is also the current CEO and co-founder of Civic; a blockchain identity protection platform.

Lingham shared his opinions in an interview at the Money20/20 conference, which took place on Sunday, October 21. The young entrepreneur discussed the most probable curve for the general crypto market in the coming future while also maintaining that traders would be better off being patient has the market is set to experience a shift in orientation. Lingham explained how a change in priorities in the industry is set to influence future prices. He said;

“Now the world is waiting for utility, when people will actually start to use the cryptocurrencies.”

He continued with his prediction, warning that the respective government of each country would most likely rise to oppose the spread of Bitcoin and other virtual currencies, and would not risk letting something they would not be able to control rise into the mainstream. Lingham believes the government would most likely tackle the threatening issue by creating its own regulated coin.

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He added:

“Every country will issue their own cryptocurrencies. Many countries will. And that will become interesting. And that is going to happen.”

Lingham ended his interview by affirming that time would be the major defining factor in the cryptocurrency market.