Dogecoin founder Jackson Palmer: forget about the financial nature of cryptocurrencies, this is just a technology

Dogecoin is Elon Musk's favorite cryptocurrency, and Jackson Palmer, the inventor of Dogecoin, said recently: Please forget the financial nature of cryptocurrencies Well, this technology can really change the world.

Dogecoin founder: forget about the financial properties of cryptocurrency, this technology can really change the world (Image source: Decrypt)

Jackson Palmer is the founder of Dogecoin with a story. To counter the growth of cryptocurrency investments, he invented the cryptocurrency Dogecoin and left. Last month, he rarely appeared in the media on a cryptocurrency podcast show, explaining why he recently exited the currency circle and why he thought decentralization was being abused.

In 2015, after Palmer left Dogecoin, this cryptocurrency with the Japanese Shiba Inu as the theme became a big success. Although Dogecoin is considered a joke, its super active community, low price and low transaction cost keep it tenaciously in the top 40 of the total cryptocurrency market capitalization. Elon Musk is one of Dogecoin's fans and calls it his favorite cryptocurrency. Last year, he even joked that he became the CEO of Dogecoin.

Although he left Dogecoin, he still hosted a podcast until April 2019, dedicated to educating people about cryptocurrencies. But now he has completely given up on cryptocurrencies and financial applications supported by decentralized technology.

Technology that can change the world

Palmer said:

Decentralization is conducive to wider world change, such as decentralized communication and encrypted communication. Because this technology can be used to organize a revolution, organize people, and change the world.

He explained that until a year ago, he believed that the financial industry could be rebuilt on a new technology stack, but this had not really happened. He believes that once everyone's needs are met, people may not need money at all.

At the same time, he also said that the asymmetric encryption, Merkel tree and hash chain components that belong to the decentralized technology still have valuable application values ​​in encrypted messaging, signatures, and management of signature assets.

Dogecoin founder: forget about the financial properties of cryptocurrency, this technology can really change the world

He says:

An objective fact that you can't deny is that it has been more than 10 years since the advent of Bitcoin, but not many surprising changes have occurred in this grand plan. The market value of cryptocurrencies is on the rise, but money seems to just flow back and forth between those avid people.

He went on to say that this was not a derogation:

I just think that it doesn't make sense for people to invest so much in cryptocurrencies. This is just a technique, please calm down.

Avoid the currency circle on Twitter

Social media has proven to be a double-edged sword. Palmer said that he felt it was an honor to be pushed into the spotlight as the founder of Dogecoin in the beginning, but soon, every point of his view was questioned. Last year, it was his disappointment with social media that led him to abandon Twitter, YouTube and all other social media platforms. He also said that the currency circle on Twitter would be a great place to study large-scale indoctrination and crazy hawking.

He says:

Social media is no longer fun. I was tired of educating people, but when it all turned into a drama, I was very disappointed,

For him, the turning point that eventually moved it away from Twitter was the appearance of many impostors, who made it difficult for him to completely delete his account.

Palmer said that since abandoning social media, he has started doing other things that can relieve stress, such as playing video games. This way he can sleep better.

This article has been authorized for translation by DecryptMedia.com .