Quotes, Week 23 ’18

Quotes, Week 23 ’18

Bobby Lee, Brad Garlinghouse, Robert Sluymer, Brian Stutland and Adena Friedman speaking on cryptocurrency and blockchain issues.

People don’t realize that Blockchain should be distinct & different from Databases, invented decades ago! Bitcoin’s real Blockchain was only invented in 2009. Everyone using a digital ledger is calling it Blockchain, w/o regards to functionality. Complete intellectual dishonesty!

Bobby Lee, co-founder of YourBTCC and creator of BTCCmobi

Bitcoin may end up being the Napster of digital assets. It's shown what's possible. But Spotify, iTunes, Pandora engaged the system and regulators, and they ruled the day.

Brad Garlinghouse, CEO Ripple

When we step back, we see the first phase starting to happen. We think Bitcoin is starting to bottom off some very key support around $7,000 and we think it’s going to start a recovery process here.

Robert Sluymer, managing director at Fundstrat Global Advisors

There is huge correlation right now between VIX and bitcoin 30 days ago, 30 trading days ago, that is starting to measure out credit risk in the market. That's what cryptocurrency is becoming. It's becoming a way to sort of de-risk yourself from credit risk in the banking industry.

Brian Stutland, managing member of Equity Armor Investments

I do believe that the construct of a cryptocurrency is something that is starting to become a construct that we can understand, that could become part of what I would call the financial element of the internet. That is currently a speculative asset class which doesn’t necessarily have kind of a foundational purpose in terms of international commerce.

Adena Friedman, Nasdaq Inc. CEO

Related news

Ripple CEO Brad Garlinghouse talks about JPM Coin’s lack of interoperability

Ripple has been commenting on JP Morgan Coin [JPM]’s lack of usefulness since it was launched. Recently, the Chief Executive Officer [CEO] of Ripple, Brad Garlinghouse, shared his opinion of the coin, while questioning its usability factor and adoption by other banks. During an interview at the Chamber of Digital Commerce’s D.C. Blockchain Summit in Washington, Garlinghouse started by appreciating JPM Coin and said that it was “great” to have a major financial player like JP Morgan in the crypto market. During the fireside chat, Garlinghouse said that he thought it was “great” for the crypto industry to have major financial players like JP Morgan “leaning in.” However, the CEO quipped, “That’s the only nice thing I’m going to say about this.” Ripple has been promoting its Distributed Ledger Technology [DLT] to financial institutions for payments, along with other products that make use of XRP. Ever since the launch of the JP Morgan cryptocurrency, the company has been doubting its validity in the real world. Garlinghouse recollected another conference he attended in the last week and recalled, “This guy from Morgan Stanley was interviewing me, I said ‘So, is Morgan Stanley going to use the JPM Coin?’ And he said ‘probably not.’ So, well is Citi going to use the JPM Coin? Is BBVA? Is PNC? And the answer is no.” He reasoned, saying that a bank creating its own stablecoin raises the same problems that DLT is supposed to solve. “So, does that mean we’re going to have all these different coins? Are we back to where we are with lack of interoperability? I don’t get it.” Garlinghouse questioned the point of tokenizing fiat currencies when it remained in the books of the single entry. He also raised an issue, querying that if the bank offered a JPM coin in replacement of a dollar, which an individual will be able to move within the JPM ledger, then why not use the dollar, instead of getting it exchanged for JPM token. “I don’t understand. If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don’t understand what problem that solves.” Ripple CEO concluded by re-visiting his point that if the JPM Coin solved any problems, it would be great. The post Ripple CEO Brad Garlinghouse talks about JPM Coin’s lack of interoperability appeared first on AMBCrypto.

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