Fedi’s CEO Says Bitcoin is Set to Claim Cryptocurrency Throne

According to Nwosu, countries that do not value freedom of expression or privilege actively examine cryptocurrencies' stringent regulation.

Fedi's CEO Says Bitcoin is Set to Claim Cryptocurrency Throne
Fedi's CEO Says Bitcoin is Set to Claim Cryptocurrency Throne

According to Fedi’s CEO, Bitcoin is poised to claim the cryptocurrency throne by the end of 2023, as its superiority “will be clear” in every respect. Obi Nwosu, CEO and co-founder of Fedi was interviewed on May 20 at the Bitcoin 2023 event in Miami.

Fedi is a Bitcoin community custody protocol that provides an alternative solution for those who lack access to or do not trust centralized exchanges.

During the interview, Nwosu emphasized that it is “increasingly difficult to deny” that Bitcoin has the “fastest, cheapest, simplest, most decentralized, and secure” ecosystem.

He expects this to become even more evident by the end of the year. He noted:

“It is going to be clear by the end of this year that it’s going to be tick, tick, tick for Bitcoin.”

Whether the objective is to develop functionality, establish a decentralized social media network, or even empower local communities, it is becoming “increasingly obvious” that Bitcoin is the most efficient and secure solution, according to Nwosu.

However, he believes there is room for additional cryptocurrencies besides Bitcoin. He envisions a “multi-coin future,” comparing it to the development of music.

“I mean there are still record players and vinyl right…there’s still some people who like tapes and laser disks.”

In addition, he emphasized that there is a “huge misunderstanding” about Bitcoin’s “slow innovation.”

He explained that there is a misconception that Bitcoin has a functional or scaling limitation, but “the reality is” that developments are occurring “extremely quickly” with a focus on developing solutions “that are correct the first time.”

Nwosu noted that prioritizing perfection may result in delays, but this is preferable to having to make changes “again and again.”

According to Nwosu, cryptocurrency is essentially “an idea” because it combines philosophical and technological elements.

Due to the intangible nature of cryptocurrencies, he explained, they cannot be defended against with “guns or missiles.”

Instead, it is susceptible to attack via “misinformation and sometimes inappropriate or extreme regulation.”

According to Nwosu, countries that do not value freedom of speech or privilege actively examine the stringent regulation of cryptocurrencies.

He believes the best way to combat this is to “correct” false information and create systems that “empower the good guys.”


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