The rate at which blockchain technology is gaining adoption irrespective of the opposition to its application in cryptocurrency, crypto tokens and crypto assets in some quarters is alarming.
Blockchain technology, also known as the decentralized ledger system had been able to gain acceptance in the finance, agriculture, supply chain, logistic, transportation, governance, election and educational sectors.
In the release of China's richest individuals of the year 2018 by a research firm, 13 crypto billionaires were on the list, including Jihan Wu the CEO and co-founder of Bitmain and Binance CEO, Zhao Changpeng.
In the Forbes release of the Fortune 400 wealthiest Americans a few months back, Chris Larson, Founder of Ripple was found to be at the 383rd position and with 17 other billionaires.
Moreover, in Forbes release of Fortune 40 under 40 towards the beginning of the third quarter of this year, Coinbase founder - Brian Armstrong, Robinhood crypto exchange founder - Vlad Tenev and the Ethereum co-founder - Vitalik Buterin made it to the list.
These records show that the blockchain and crypto industry is becoming an essential arm of the technology and fintech industry which must not be ignored.
Forbes in its quest to continue with the release of different categories of people of different ages that are making wave had released the Forbes 30 under 30 list. To the surprise, it contains four personalities who are between the ages of 25 and 28 that founded and are CEO of businesses in crypto asset management, blockchain scaling and cryptocurrency investment.
These young founders were able to use blockchain in solving real-world problems through their businesses. They are Hunter Horsley (28), Nader Al-Naji (26), JB Rubinovitz (26) and Olaoluwa Osuntokun (25).
Hunter Horsley is the CEO and co-founder of Bitwise Asset Management, a San Francisco based firm. This investment firm has helped a lot of family offices, wealth managers, investment fund managers, institutions in their investment target. They invest mainly in the top 10 cryptocurrencies in terms of market capitalization and rebalances monthly.
Nader Al-Naji was able to raise more than $130 million to develop a stablecoin called Basis. The reason why this stablecoin is different from others is that it has an algorithm that fluctuates its supply while maintaining its 1USD pegged value.
JB Rubinovitz, in his quest to provide a solution for the inability of detainees to meet bail terms and bills, cofounded Bail Bloc that raises bail fund to qualified persons through its cryptocurrency mining platform. This could help more than 50% of Americans in need of bail aide, to get funding for it.
Olaoluwa Osuntokun, on the other hand, moved to the U.S from Nigeria when he was young. He helped to co-found the Lightning Network (LN) that is believed to be the solution to the lingering challenge of Bitcoin scaling, which led to its hard forking to coins like Bitcoin Cash, Bitcoin Gold and Bitcoin Private. The Lightning Labs has been able to raise more than $2.5 million in developing a system that will increase the speed of bitcoin transactions and lower its transaction charges like Cash App and Venmo.