Jahdiel Chidi got into the crypto space in April 2017 and bought his first crypto in 2018. He started out as a content creator for the then community he joined and went on to learn crypto trading in 2019. Jahdiel collected his first NFT in 2021 and started out his own community and crypto hub. He has managed a few communities and moderated a few NFT projects on discord. Jahdiel has founded Crypto Cribz & The Blockchain League. Currently studying FrontEnd Engineering with AltSchool Africa.
Where do you see crypto trading in 2022 and the upcoming years? What’s up with the current crypto crash and the failure of currencies like Luna? Tell us your views!
I see crypto trading going mainstream beyond what we witnessed in the past 12 years. I also see lots of adoption from institutional investors, Governments, Hedge funds, and new money from retail traders/investors coming into the space. ”crypto crash” The crypto space has always witnessed huge price pullbacks and dips in history, so the current price crash was expected and its part of the market circle; also note that the kind of price rally witnessed after the last Bitcoin halving and into Q3 of 2021 which saw BTC trading at an all-time high of $69k and that was a clear indication for a price pull back.
LUNA CRASH! Aside from the fact that the Luna and UST ecosystem was an experiment all along, Do Kwon and the team have been experimenting with the algorithmic stable coin UST. The experiment was supposed to see LUNE and UST compensate for price fluctuation. Moreover, the primary cause of the crash is the increasing inflation, the raising of interest rates by the Federal Reserve, and the Russian-Ukrainian war. Also, note that the traditional financial market and the stock market as well at the moment are also experiencing a correction, just like the crypto market. So far, the crypto market is doing pretty well for a 12-year-old industry; it’s okay to see these levels of speculation in the space.
So how do you think governments would kill or keep alive the cryptocurrencies?
The government could slow the progress but won’t be able to entirely kill cryptocurrencies. at the current stage of cryptocurrency, adoption can’t be stopped or killed but could be slowed down by the government via stringent regulations. In reality, every government that pays attention to the advantages of the technology underlying crypto will come to agree that crypto is of value in exchanging value across the globe in real-time, among many other advantages. Just like we have seen with EL SALVADOR.
As an influencer, do you see any hurdle in the mass adoption of cryptocurrency, and if yes, what is it?
Yes! The chief of them is the lack of global standard REGULATORY structure. Looking at the rate at which crypto projects show up by the day, and the majority of them rug pulls on their community, and getting away with it is a big hurdle for mass adoption.
What’s the major drawback in the blockchain space?
Education and or information. There is a huge knowledge disparity between enthusiasts and blockchain project developers folks (project founders). Now, to solve a major part of this challenge, stakeholders in the space, including; project founders, media outlets, influencers, etc., ought to collaborate across the board and intentionally create informative content with everyone in mind, regardless of language and consumers’ physical ability.
If you are to choose between crypto or blockchain, which one would you go for? And Why?
I would choose Blockchain because blockchain technology has limitless opportunities beyond just transacting with crypto. One can incorporate almost any industry into blockchain technology, and that’s far beyond crypto payments.
Make a wish for the crypto and blockchain community out there!
I wish to see half of the world’s population adopt crypto in the next few years.
It’s a warp-up: crypto will do to the banks what email did to the postal industry.