To read the full article – click here. I am pretty sure readers of Blockleaders know the story so I am not going to copy the entire article here … just the bits were I am quoted:
Jillian Godsil, an Irish journalist and broadcaster considered one of the world’s most influential voices in the world of blockchain, is convinced of the technology’s power to do good in the world and “solve big problems”. The velocity of the industry clearly thrills her, and she speaks fondly of the ‘vibrant’ community, both globally and in Ireland.
“If your kids are still going to school and thinking of going into tech, make sure they get into blockchain,” she says. “It’s a huge growth industry.
“The reason why the status quo trash-talk cryptocurrencies is that they threaten their control of the world,” she adds. “Jamie Dimon of JP Morgan said Bitcoin was a scam, but last year he announced the JPM coin [digital currency]. Facebook banned cryptocurrency ads but they launched Libra last year.” Godsil is predictably less than enamoured of OneCoin.
“OneCoin is a scam,” she says definitively. “It’s disgusting because it brings down everything else. Just because they called it a cryptocurrency doesn’t mean it was one – but they used the global sentiment at the time to pretend they were. They could have been selling bulbs, tomatoes, fine art…” It was a Ponzi scheme, she says, using the lure of cryptocurrency to entice people further down the chain.
Not only that; tales were rife of early Bitcoin adopters who bought $10 worth of the new currency and became multimillionaires once it eventually floated on online exchanges. Within crypto circles, the infamous tale of Laszlo Hanyecz also stands out: in 2010, unaware of just how valuable Bitcoin would eventually become, he paid for a takeaway pizza with 10,000 Bitcoins. That fateful meal has been called the ‘$80m pizza order’.
“A lot of people did make money,” says Godsil. “Brock Pierce [the former child actor and current US presidential candidate] invested early and became a billionaire.”
Godsil observes that the mantra “only invest what you can afford to lose” is common in crytpocurrency circles. In the meantime, she has little idea as to when or how the industry will be fully regulated.
“A technology is not moral,” she says. “Cryptocurrencies are not good or bad – they are digital money. It’s like suggesting a computer is bad because you can watch child pornography on it. But OneCoin was a scam, called itself a cryptocurrency, and stole billions of dollars from people who could least afford it.”