- Jeremy Allaire was just one of the many guest speakers at The World Economic Forum in Davos, Switzerland.
- He discussed the issues facing cryptocurrencies in the financial ecosystem as a whole.
The Co-Founder of Circle, Jeremy Allaire was just one of the many guest speakers at The World Economic Forum in Davos, Switzerland where he discussed the issues facing cryptocurrencies in the financial ecosystem as a whole.
At the ‘Shaping the Future of Financial and Monetary Systems,’ Allaire explained how it is vital how we think about the so-called ‘digital disruption on an arc’, as well as getting a better grip with how the current economic standpoint is while also delving deeper into these kinds of challenges.
“For the financial system, we are at an inflection point and moving from the periphery to the core. [For example] moving away from the likes of just ‘making access better’ to finally visiting the core of the financial systems — such as the nature of money, how distributed and utilized.”
Allaire further stated that the growth of cryptocurrencies could help the current situation. Through this, the CEO highlighted different areas like such as blockchain, cryptos, and stablecoins.
The rise in the price of cryptocurrencies has been accompanied by an increase of general interest by institutional investors. At the end of 2017, we saw a lot more people enter the market who never even heard of cryptocurrency and get involved with the space. Regulation and governments have come hand in hand with this too.
Allaire then went onto say that the odds of people across the globe going back to restricted access is very unlikely.
“We have open communications but we also accept the fact that terrorists can recruit people on YouTube. We’re not saying shut down YouTube...”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!