BoE Explains Why Crypto Crash Survivors Could Become Future Amazons, eBays

Bank of England Deputy Governor Jon Cunliffe sees a possibility for crypto meltdown survivors to become the future technology companies, rivaling Amazon.com Inc AMZN and eBay Inc EBAY, Bloomberg reports from a Zurich forum.
Cunliffe drew parallels between the meltdown wiping more than $1 trillion off the value of Bitcoin and other cryptocurrencies to the dot-com collapse at the start of the millennium.
The dot-com collapse saw a wipeout of $5 trillion in value and the end of several companies. However, the survivors like Amazon and eBay evolved as the dominant players.
He emphasized "huge applications and potential within the financial sector" for crypto technology despite the current scenario and expected crypto technology and finance to continue amid odds.
The BoE was amid the development of plans for its own retail central bank digital currency.
Regulators continue to weigh entirely disintegrated settlement or regulate the crypto technology's AI code.
He explored whether private stablecoins would be more optimized by linking to a central bank ledger or providing the base instead.
He held the same conviction in a fully automated pilotless plane, or a fully driverless car, questioning the liability in case of a crash due to an algo error.