Robert Herjavec, an expert in cybersecurity and Shark Tank investor, sees cryptocurrency as “the wave of the future.” He explained that digital currency will soon remove the necessity for money. He declared, “Fast forward 25 years from now, there will be some form of a cryptocurrency that we will pay for electronically, and the concept of cash will go away one day.” Herjavec also acknowledged blockchain technology as a system that will soon change how business verify transactions.
Currently, transactions are conventionally made using a single server. However, blockchain technology allows numerous servers to verify a single transaction. Herjavec claims such a technology will “..have massive benefits for humanity, in all kinds of transactions..including cybersecurity.” Herjavec is reportedly worth $200 million. His fortune mainly came from his cybersecurity company that has been existing for two decades.
Despite his optimistic view on cryptocurrency, Herjavec backtracks and believes he should not engage in digital currencies as of now. He states, “There’s no base for it.” He explained, “When I buy a house and it’s overpriced, I can live in it. There’s some fundamental value. The challenge with cryptocurrency is, it could go to zero. There’s no one exchange that is making them. Exchanges that sell them now can be hacked. We recently saw the largest breach ever — $500 million in 24 hours. If you had bought that exchange, it’s not that you’ve gone down 20% or 40%, you’ve actually gone to zero.” He also acknowledged that digital currencies are being used to fund hackers. He claimed, “Cryptocurrency is the choice of funding and transactions for hackers.” He added, “And since we’re the good guys, I can’t get behind [that]. If there was no cryptocurrency, much of the large hacks that we’re seeing today wouldn’t exist.”