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Comcast’s Managing Director says Bitcoin Will be a Part of Major Industry

The venture capital affiliate of Comcast Corporation, composed of Comcast Interactive Capital and NBC Universal Peacock Equity Fund, can now be added to the long list of major groups praising the benefits of blockchain and the future of cryptocurrency.

Just recently, the Managing Director of Comcast Ventures, Gil Beyda said what many within the blockchain industry have been saying for quite some time now. When asked if Comcast would be investing in cryptocurrency and blockchain, Beday said, “We are very excited about cryptocurrency and blockchain. So, irrespective of the price of Bitcoin, whether it’s 10 thousand or ten dollars, we still think that there is core technology there that has the potential to disrupt many industries.”

At a market value of $193.5 billion, these comments hold a ton of weight coming from one of the world's biggest corporations. Comcast is an American global telecommunications conglomerate that has grown to be the largest broadcasting and cable TV company in the world (by revenue). It is the 2nd largest pay-TV company and largest cable TV company. It is the 3rd largest home telephone service provider, as well as the largest home Internet service provider inside the US.

Comcast Ventures has some of the biggest names in cable TV and its major entertainment reaches hundreds of millions on a global scale. In addition to NBC Universal, Universal Studios and Universal Studios Japan, Comcast recently made a $31 billion bid for SKY UK, a major telecommunications company in Europe.

Beyda said the 2017 rise in crypto was due to small investors looking to get wealthy. Now, he says, it’s all about how people are seeing the use of the technology and its benefits. In regards to banking and finances, Beyda feels that in the underdeveloped world a crypto-based economy would be more advantageous seeing how they could bypass the current financial systems in place. Often times in underdeveloped places there is a corrupt central bank in place or inflation has skyrocketed. With a crypto-based economy the people can go direct to a crypto-based system with peer to peer transactions all recorded on a ledger that cannot be altered.

Beyda’s interview on CNBC can be seen in full here.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee