Cryptocurrencies’ bear market cleansed all the wrong players from the market, says Brock Pierce


Brock Pierce’s quest to master challenging businesses led him to enter the cryptospace by founding Blockchain Capital (BCC) in 2013. The successful entrepreneur recently featured in an interview held on the sidelines of the AIBC Summit 2019, in which he revealed his secrets to success and opined on the future of cryptocurrency.

The interview started with Pierce speaking about the positive effects of blockchain applications. Although blockchain has found home in several business verticals over the past few years, the crypto-enthusiast focused the discussion on blockchain’s role in “the concept of financial inclusion.” He said,

“Most of us take having access to a bank account without the fear of getting robbed. But that’s not true for the majority of the population of the (underbanked) planet.”

Pierce also spoke about technology’s role in democratizing the global financial system, which can ultimately result in equal access and benefit to the less fortunate. The idea behind the move is to provide the essential tools that can help users in attaining financial stability. The philosophical genius tied this vision of helping people across the globe to success in life. He added,

“Money doesn’t make you happy, which they think is the key to success. What actually happens is they end up less happy because of all the compromises they make in pursuit of that success.”

While concluding the interview, Pierce shared an unpopular opinion of the bear market, stating that it did some good for the crypto-ecosystem. The business prodigy backed up his claim by saying,

“It (the bear market) solved the biggest challenge of cleansing the wrong players from the market. When you come into this space, don’t compromise your integrity for the quick buck.”

Brock Pierce also warned aspiring entrepreneurs about the technology’s immutable nature, cautioning them to make wise decisions along the way. Further, he also suggested that future technologists build scalable applications as the ecosystem needs more people to ultimately make the world a better place.

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