When the expansion of the crypto market is imminent, Earnity co-founders Domenic Carosa and Dan Schatt keep the crypto community together for extended growth. One faction consists of purists who oppose the involvement of Wall Street and other sources. However, purists cannot dismiss the concerns of the other group, so-called “crypto pragmatists”. The crypto movement stems from the desire to build what Andreas Antonopoulos refers to as “The Internet of Money.”
Purists seek to decentralize control of capital flow from central entities. Yet, it is the power banks wield, and they put citizen savings at risk for profit. Additionally, the narrative based on central banks spreading globalization is as absurd as it gets. Ironically, true globalization of capital means they will lose their capital-manipulating influence, which will be their death knell.
According to this group of believers, banks are unnecessary. They are similar to Bitcoin fundamentalists who oppose the forking of the original Blockchain. For them, it is a revolution that crypto leaders and investors must protect at all costs, not a step toward changing the financial system. Moreover, the introduction of Wall Street cronies would taint the original movement.
The second faction consists of individuals and groups who are zealous about expanding the crypto market at any cost. They want to bring in big money as soon as possible because it will spark a similar cultural moment as Silicon Valley did in the 1990s. They believe that leaders will spend trillions of dollars introducing this technology and cryptocurrency to billions of people worldwide. Once the populace gets involved, there will be no turning back.
The crypto market requires exponential growth to overcome the challenges it will face in the future. Congress and the Supreme Court have already expressed interest in its operation, and government involvement divides the community along similar lines. Governments can relax regulations if traditional money interests align with those of the crypto market.
Earnity’s Dan Schatt and Domenic Carosa want the world to accept crypto without downplaying Fiat Finance. On the other hand, purists may lose ground in the long run, and the rise of crypto businesses’ massive profit margins will inevitably attract new players looking to cash in on their investments.