In a recent interview with BreakerMag, Blockstream CSO Samson Mow gave his thoughts about the state of crypto. He sees great potential in the Lightning Network, but believes Ethereum has “no future”
Mow says that Blockstream is currently working together with the Intercontinental Exchange (ICE) to develop a crypto data-feed for traders, ahead of the ICE’s launch of Bakkt later in the year.
He is particularly excited about the Lightning Network, due to the increased adoption of crypto that it is likely to bring, and believes it will be fully adopted within two years. He claims that it will make Bitcoin (BTC) easier to use and develop on, comparing it to a user-friendly web app on top of the underlying internet TCP/IP code: “You just say, I want to send this amount of money. If it’s a big amount, it will go on-chain. If it’s a small amount, it will go through Lightning. It’s invisible to the average user”.
Mow is optimism about the future of crypto, but is bearish on many individual projects. Ethereum was one crypto that he singled out as having “no future”. He disagreed with the project’s thesis “that you want to compute with the blockchain…that’s just a dead end. That’s like making bigger blocks instead of a making a Layer 2 scaling solution. Whereas bitcoin—and Monero and Litecoin—[use it] just for verification. It’s like what I said before—the blockchain doesn’t really do anything if it’s just in isolation. What you really care about is having that sound money”.