2023-01-19 15:43:20
Newsflash From Day 2 Of The World Economic Forum,
Davos
We bring you some key takeaways from second day of the ongoing World Economic Forum.
Crypto Industry Vs Fiat Banks – The crypto industry has spent too much time chasing the idea of creating an inflation-resistant alternative to fiat money that would stand up to central banks flooding the world with counterfeit money. I think that was a weak rationale. The future of cryptocurrency may depend on its ability to abandon the narrative of distrust of central banks and find ways to coexist!
FTX – Even if the FTX Crash is a crisis for the cryptocurrency industry, it is not a crisis for other instruments based on blockchain technology.
What Some Key Speakers Had To Say:"
"It's important not to confuse cryptocurrencies and CBDC, stackablecoins and DLT.... they are very different. "
- PayPal, Dan Schulman
"Blockchain will provide many advantages to make issuing stocks more efficient or allow financial transactions to be settled instantly rather than days later."
- Lynn Martin, president of the NYSE
"Cryptocurrency as a speculative asset class has failed (FTX crash), but that should not disqualify blockchain technology."
- Raghuram Rajan former central bank governor of India
"Regulators need to stop obsessing about lenders bringing down the entire financial system, more risk of individual consumers being ripped off by cryptocurrency scammers"
- Ronald O'Hanley
"There may be other bankruptcies waiting for us in 2023, similar to FTX"
- Circle
"This year there is a special focus on consumer protection. The UK is the center of fraud!"
- TRM Labs
"The EU is doing everything it can to regulate crypto competently, unlike jurisdictions like Singapore, Japan or Hong Kong."
- Ava Labs
#davosforum #mmproevents #marketmakingpro
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