Australian dogecoin founder speaks on the future of cryptocurrency

Jackson Palmer, co-founder of Dogecoin, a cryptocurrency that uses the Shiba Inu dog character from the "Doge" internet meme as its mascot. Photo: Tony Walters

Thispostwas originally published onMashable.

Dogecoin, the 140-day-oldcryptocurrency, held its first conference in San Francisco on Friday where hundreds of the currency's devotees turned out to show their support and, of course, "tip" anyone with a QR code handy.

Dogecoin's Sydney-born founder Jackson Palmer gave the keynote during which he discussed the currency's unexpected journey from joke to reality and the future of the cryptocurrency that in just over four months has already become the most widely traded virtual currency in the world.

The dogecoin market has become a networked, self-regulating, peer-to-peer community.

Palmer, who was involved in other cryptocurrency communities at the time, officially launched dogecoin in December of 2013. The currency was quickly embraced by the Reddit community who has collectively given out $US150,000 in dogecoin "tips" to other Reddit users, Palmer said.

During his keynote, the dogecoin founder said that the viability of digital currencies shouldn't depend on its value in US dollars. (Currently, 1 dogecoin is about $US0.0005, according toBitInfoCharts.)

"Unfortunately, a lot of communities around cryptocurrency, that's all they care about," he said. "I don't wake up every day and wonder about what my paycheck is. You shouldn't wake up every day and worry about what Bitcoin is in US dollars or what Dogecoin is in US dollars."

An example of the doge meme.

He said the eventual success of the currency will depend on its widespread adoption by both consumers and businesses.

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Australian dogecoin founder speaks on the future of cryptocurrency