- Ruby on Rails creator David Heinemeier Hansson admitted “we need crypto”.
- Prior to his apparent conversion, Hansson criticized cryptocurrency.
- Hansson’s change of opinion came after the demonstration of Canada’s “dictatorship”.
David Heinemeier Hansson, the creator of open-source web application development software Ruby on Rails, admitted he was wrong for doubting cryptocurrencies, especially Bitcoin.
Hansson wrote a blog to express his realizations over the seemingly-concluded Canada protests. He believed that Canada’s treatment of the truckers who staged peaceful rallies was nothing short of dictatorial.
According to Hansson, this demonstration proved the need for cryptocurrencies. He said in the blog:
“But wherever this leads us next, it’s clear to me now that I was too hasty to completely dismiss crypto on the basis of all the things wrong with it at the moment. Instead of appreciating the fundamental freedom to transact that it’s currently our best shot at protecting.”
Prior to his renewed stance, Hansson was a critic of cryptocurrency. He stated earlier in the blog his concerns regarding the amount of energy needed to run the Bitcoin network. He also mentioned the alleged fraud on Tether (USDT) and the illusion of decentralization of the current Web 3.0 infrastructure.
Meanwhile, Bitcoin’s price continues to dip after a failed attempt at retaking the $40,000 territory. At the time of writing, Bitcoin price is at $37,844.80, according to CoinGecko.
Recommended News :
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.