Bitcoin, Other Cryptocurrencies Will Play Key Role in Society Says Yahoo’s Jerry Yang

Yahoo co-founder Jerry Yang claimed that the virtual currencies like Bitcoin will play a key role in the future of society. He even compared the volatility and technology of Bitcoin to the “early days of the Internet.”

In an interview at the sidelines of the Fortune Global Forum held in China in late 2017, Yang said that Bitcoin and the other digital currencies like Ethereum, Litecoin and Dash are the future of the financial system, although they are not there yet.

“Bitcoin as a digital currency is not quite there yet. People are not using it to transact. People are using it as an investable asset. I personally am a believer in where digital currency can play a role in our society. Especially in, not only the front end of doing transactions but also in the back end of creating a much more efficient system and a much more verifiable system”.

Other positive comments on Bitcoin and the other virtual currencies

Despite some criticisms and doubts against Bitcoin and the other cryptocurrencies, there are technology luminaries like Yang who support and believe their potential.

Among the believers is technology firm Apple co-founder Steve Wozniak, who claimed that he considers Bitcoin as a digital currency that is “more genuine and real” than the US dollar and better than gold as a store of value.

In an email interview with Cointelegraph, entrepreneur and investor Jonha Richman shares that she believes in the potential of Bitcoin and cryptocurrencies in general. In fact, like Yang, she believes that more and more traditional money will flow into Bitcoin in the coming months as cryptocurrencies are slowly starting to hit the much awaited mainstream adoption.

With these positive pronouncements on virtual tokens, the number of individuals who are attracted to the cryptocurrency market continues to grow. In fact, Bitcoin recently toppled Visa’s market cap with its latest all-time high price.