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

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Ripple CEO Brad Garlinghouse Speaks On Libra, XRP and Crypto Regulations

Ripple’s CEO Brad Garlinghouse just responded to President Donald Trump’s Tweets on cryptocurrency and Secretary of Treasury Steve Mnuchin’s Libra themed press conference. In a series of tweets, Garlinghouse laid out his thoughts on what the President and his Secretary of Treasury said about the present and future of cryptocurrency. Garlinghouse first reiterated that he did not think cryptocurrencies wild pose a threat or disrupt the US dollar or the currencies of other major countries. But he expressed a fear that the blockchain industry could get pigeonholed as a tool for criminals. Ultimately though, Garlinghouse thinks working with lawmakers will be best for the cryptocurrency industry. “But as Mnuchin indicated, the entire crypto industry should not be painted with one broad brush – it has come a long way since the days of Silk Road. For the industry to succeed, we need to work with regulators and within policies. Full stop.” When it comes to Facebook’s new cryptocurrency project, Garlinghouse says they need to be watched closely. “When I read the Libra whitepaper – outlining a goal to create a new fiat currency – it was clear to me that the effort should be held to the same standard as other regulated financial institutions.” Ripple’s CEO argues that XRP can serve a worldwide community in an era of new technology. With the need for money to be sent around the world rising, XRP offers a perfect solution for a financial industry due for an upgrade. “XRP is uniquely equipped to solve a multi trillion dollar problem by offering a dramatically faster and cheaper bridge for cross border payments. @Ripple already works with regulators, banks and financial institutions (like @MoneyGram) to implement this around the world.” Garlinghouse concluded his tweetstorm by offering a word of encouragement for the builders and developers of the industry. “I hope there is no ‘ignoring, laughing or fighting’ as it relates to regulation of crypto. If we want to maximize progress forward, it’s about working with the existing financial system – not against it.” “If not, we risk squashing innovation here in the US, and letting foreign interests take control of this new sector of our global economy.” Garlinghouse’s statements are in line with many other leaders in the industry who wish to work with the government to provide a clear set of guidelines for cryptocurrency. With more clarity, talent and money will be able to confidently enter the space. The post Ripple CEO Brad Garlinghouse Speaks On Libra, XRP and Crypto Regulations appeared first on ZyCrypto.
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