Circle CEO: Crypto Is a More Disruptive Innovation Than the Web

Circle CEO Jeremy Allaire via World Economic Forum / YouTube

Earlier this week,¬†Cameron¬†and¬†Tyler Winklevoss, the founders of¬†Gemini, took to¬†Reddit¬†to answer questions in an official “Ask Me Anything” (AMA).

Not to be outdone, competing cryptocurrency exchange Circle¬†ran their own AMA¬†on¬†Thursday, opening up¬†Circle’s co-founder and president, Sean Neville, and CEO¬†Jeremy Allaire¬†to questions from the community.

These questions covered topics ranging from the goals for the company’s stablecoin (USDC) to how Circle handles law enforcement requests to monitor crypto transactions, especially with privacy coins like Monero (XMR).

However, perhaps the most notable question came from Reddit user¬†jjwilser, who asked, “You guys do a lot of different things at Circle. Can you articulate a central mission? Also, Jeremy [Allaire], could you describe how you went from CEO of a video company to a cryptocurrency company? What did that progression look like?”

In response, Allaire detailed his goal to create an open financial system that allows everyone to connect and easily create and share value. Ultimately, he believes a system like this would have a bigger impact on society than the internet.

“My origin interest in the internet was from around 1990 when I was excited about how a decentralized network could dis-intermediate governments and media companies and create a radically more open and connected global society,” Allaire said. “In my view, crypto is a much more significant and disruptive innovation than the Web, and its impact on society, politics, economics, governance will be far far greater for humanity over time.”

As we previously reported, Circle has been on a tear over the last six months, seeing significant growth in the total volume of recurring trades on the platform, as well as other key metrics. In 2019, Circle projects similar growth across its various products as it continues to compete with Coinbase for users.

More: Circle Invest: Recurring Trade Volume Has Doubled Since September
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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