At the Token2049 conference in Dubai, experts discussed the role of venture capital in the Bitcoin ecosystem, presenting various viewpoints on the necessity of investments for infrastructure development.
Overview of Conference Participants' Opinions
Charlie Yechuan Hu, CEO of the Layer-2 protocol Bitlayer, noted that venture capital firms play a crucial role in supporting early-stage projects by providing capital for infrastructure development. He stated, "You need developers, you need to open up the whole ecosystem foundation, everything." Hu criticized the traditional Bitcoiner stance against outside capital, arguing that investments are essential for building a sustainable ecosystem.
Diverging Views on Investments in Different Technologies
However, not everyone shares this perspective. Mike Jarmuz, managing partner at Lightning Ventures, expressed skepticism about technologies other than Lightning. He emphasized that "there are no tokens" when using the Lightning Network, adding that many projects merely masquerade as useful.
Impact of Venture Capital on Bitcoin Development
Charlie Yechuan Hu also highlighted that venture firms bring liquidity and resources to new startups, opening up institutional ideas and connections. Experts like Walter Maffione from Kaleidoswap confirmed that venture investments contributed to open-source development and accelerated protocol advancement. The discussions underscored the importance of focusing on long-term development for sustaining the ecosystem.
The Token2049 conference in Dubai showcased the diverse opinions on the role of venture capital in the Bitcoin ecosystem, emphasizing the importance of investments for infrastructure growth and technological development in this sector.
