Christian Gautier Ericsson, the chief strategist and head of research and investment solutions at Swiss private banking group Julius Baer, holds the thought that cryptocurrencies still require trust to rise in competition with the traditional money. In his interview with Arabian Business, the chief stated, “Someone needs to be able to transfer the trust that is inherency in a currency, central banks and governments to put this into the virtual, decentralized world.”
According to the chief, the “killer” application of virtual coins is yet to be discovered that will pump their adoption on a global level, and says, “We are still in this Darwinian selection process where different business models get tried and tested, but we haven’t seen something that was a clear winner.”
Ericsson mentions that several cryptocurrencies continue to cope with the fact that they have limited or plateauing supply patterns, which make them more like metal gold rather than a currency. However, the strategist has contrasted opinions regarding the technology underlying. Gautier states that Blockchain holds a “whole variety of potential appliances” and can change the rules of the games.
He adds that Blockchain is yet being explored. “It’s like another frontier we are approaching.” Last year, Ericsson linked cryptocurrencies to gambling commenting that the coins involve immense volatility and speculations.