In this year’s Forbes 30-Under-30 list, four youthful Blockchain and cryptocurrency entrepreneurs between the ages of 25 and 28 have been featured for their innovative work on the crypto financial world, asset management in digital currency and Blockchain scaling.
The Entrepreneurs Leading the Blockchain Industry
The four young entrepreneurs namely; Olaoluwa Osuntokun (25), Nader Al-Naji (26), JB Rubinovitz (26) and Hunter Horsley (28) were featured on this year’s Forbes 30-Under-30 list for the very first time. The recognition was made after the youths found solutions to various problems in the world by applying the blockchain technology to start up their respective firms.
The Forbes 30 under 30, in its seventh year, is an encyclopedia of 600 youngsters in 20 different industries. Those featured on the list are nominated and finally selected after various reports from correspondents, and getting a pick from a panel of A-list judges.
Born in Nigeria and moved to the U.S. in his early years, Olaoluwa Osuntokun was featured in the list mainly because of his intensive research and subsequent success on creating a Bitcoin blockchain scaling solution. He, alongside Elizabeth Stark, co-founded Lightning Labs, an open protocol layer that leverages the power of blockchains and smart contracts to make cheap, fast, private transactions available to anyone around the world. Olaoluwa has raised over 2.5 million dollars towards the aim of increasing the transaction speed of Bitcoin which currently stands at seven transactions per second. His goal is to make Bitcoin a reliable payment method to carry out transactions with low fees like Venmo and Cash App.
With a dream of developing basis, a U.S dollar-pegged stablecoin, Nader Al-Naji has raised over 133 million dollars from several investors including Bain Capital, Andreessen Horowitz, and Stanley Druckenmiller. The stablecoin was created with the aim to replace central banks in countries with hyperinflation like Zimbabwe and Venezuela. The basis is unique in its category of stablecoins; its USD peg is preserved by the increase and reduction of its supply algorithmically instead of being backed by actual currency reserves in an account. This way, economic stability will be ensured in the countries plagued by hyperinflation.
Another crypto minded entrepreneur listed is JB Rubinovitz, the co-founder of Bail Bloc. Bail Bloc is quite peculiar as its creation was made out of moral intentions. It uses a crypto mining framework to raise bail for people who can’t afford to pay it. Statistics in the United States of America show that as much as 90 percent of detainees remain in detention after being qualified for bail because they cannot afford it. Basically, this means that about 50% of people incarcerated would not be in prison if they could afford to post bail.
The CEO of Bitwise Asset Management, Hunter Horsley, was also featured in the Forbes 30-Under-30 list. He maintains four cryptocurrency indices in use by over 600 multifamily offices, something that is of importance in the eventual mass adoption of cryptocurrency and digital assets as a whole.
The Prominence of Crypto Personalities on Business Magazines
The blockchain is a growing industry, and the presence of these four youthful individuals portray just how much cryptocurrency’s influence is growing. The blockchain started as a category under FinTech. Today, it has grown much bigger into an industry.
Earlier in the year, Forbes released the Fortune 40-Under-40 list for 2018 and it featured notable personalities in the crypto world like Ethereum co-founder Vitalik Buterin, Coinbase co-founder Brian Armstrong and Robinhood founder Vlad Tenev.