How did you get into crypto-currencies?

I’m originally an economist, but after spending a few years in the tech/startup world, I went back to university to do a masters in cognitive science. In summer 2013, while I was finishing my dissertation I learned about Bitcoin and became obsessed with it immediately. It was clear to me very quickly that this is a revolutionary innovation and it was also interesting revisiting economics with Bitcoin in mind. Since August 2013, I have been spending all my time on a variety of Bitcoin-related projects such as the Bitcoin Startups Berlin group and the Epicenter Bitcoin newsletter/podcast.

Which crypto-currency has the most potential beside Bitcoin?

Cryptocurrencies that enable building more complex applications and contracts have lots of potential such as Mastercoin, Bitshares/Protoshares, Nxt, Counterparty and Ethereum. I’m not sure which of these will end up working out, but Ethereum seems to have the most competent team and strongest community. Recently, I have also started thinking about whether Bitcoin’s proof of work will lead to higher transaction costs in the long run. In that case, currencies with a different and more cost-effective mining model might actually be able to displace Bitcoin.

How widespread will be the use of crypto-currencies in five years?

I think in five years cryptocurrencies will have reached widespread adoption. Of course, it is difficult to predict such things, but I’ll venture the guess that one billion people will own some cryptocurrency by then. While, I think there is a good chance Bitcoin will still be the leading cryptocurrency, I would be surprised if we did not see a plethora of different currencies filling different use cases. I also think some of the Bitcoin 2.0 protocols such as Mastercoin or Ethereum will have found some niches that cannot be sufficiently filled by other means and found widespread use there.

About Brian Fabian Crain:

Brian Fabian Crain is a Berlin-based economist and entrepreneur. He’s the founder and co-host of the Epicenter Bitcoin Podcast, Europe’s leading Bitcoin podcast, which features in-depth discussions of news and developments in the Bitcoin world as well as interviews with innovative people in the Bitcoin community. Brian is also the founder and organizer of the Bitcoin Startups Berlin group – the largest and most active Bitcoin meet-up group in Germany. Brian has degrees in economics from the University of Chicago and the London School of Economics and in cognitive science from University College London.