Martin Köppelmann, the founder of Gnosis, an Ethereum predictions platform and a supporter for Unconditional Basic Income on blockchain posted a blog post announcing doubled down support for the Ethereum platform.
He confidently stated that Ethereum’s rapid price drop from $1300 to under $300 is nothing to be worried about and that the Gnosis project will continue operating alongside Ethereum for the next 5-7 years despite market outcomes.
Being active in the space since Bitcoin $9 [sic] this is nothing new and we prepared for this event.We have a team of over 50 people now working full time on the Gnosis platform and we can continue to finance this for the next 5–7 years without the need to sell any of our ~200k ETH in reserve.
According to Köppelmann it is not the price of Ethereum that is important, rather it is the quality of usage for Ethereum’s decentralized applications. He believes that the growing ability of dApps to easily interact and gain benefits from each other on the Ethereum platform will ultimately increase use case demand in an open, interlinked and open environment. As there is an increase in demand, there will also be an increase in the price of Ethereum.
We have chosen to make Ethereum the primary environment for the platform we are building ourselves.Thus, it is in our best interest to make this environment flourish. Or as Jarrad from Status put it: ‘A rising tide lifts all boats.
Köppelmann announced that Gnosis will be implementing a consequent web3/Ethereum first strategy to provide a viable decentralized alternative to users. Following this announcement, Köppelmann received increased public support. He is assuring the public that he and his team will spend more time making it easy for users to contribute to the developing system.