Bitcoin may have just celebrated its tenth birthday, but the big push didn’t start until only a couple of years ago. As awareness and interest grow, the excitement turns to the realization that cryptocurrency is not just a toy – it’s a legitimate tool that will completely change the global financial ecosystem. In order for this to happen, though, in the words of Bitcoin Association President Jimmy Nguyen, “It’s time for Bitcoin to grow up.”
Nguyen led a discussion at CoinGeek Toronto 2019 with several individuals who understand well both the crypto and finance spaces. Centbee co-founder Angus Brown, nChain CEO David Washburn and co-founder and CEO of FRNT Financial Stephane Ouellette all joined Nguyen on stage to discuss how crypto is impacting the financial world and what changes are coming to make it even better. Before becoming involved with digital currency, all three were deep in the financial industry, so their goals with crypto transcend well beyond the typical crypto boundaries.
Bitcoin needs to be taken to a level that makes financial institutions and investors comfortable in supporting the ecosystem. Many are hesitant to embrace the technology for a myriad of reasons – old habits, resistance to the connotation of the term “crypto,” volatility and risk management, among others – and overcoming these hesitations are paramount to seeing Bitcoin prevail in the financial world.
FRNT is helping rewrite the script between crypto and finance by offering a platform that allows investors to take advantage of Bitcoin SV (BSV) derivative products. The platform was funded, in part, by Calvin Ayre and his Ayre Group and is changing how Bitcoin is viewed from a financial perspective. (5:03)
One area that could help tear down the barrier between crypto and finance is the introduction of regulations.