Litecoin founder Charlie Lee as well as CoolBitX CEO Michael Ou recently shared concerning their sights relating to the cryptocurrency market, difficulties that it’s currently dealing with, mass fostering and other crypto-related topics. Charlie Lee and Michael Ou sat down with Thomas Hu, creator of Kyber Capital, Kyber Intelligence, as well as Kyber Base, in recent fireside conversation.
Throughout the heated conversation, both of them shared that they believe effective mass adoption as the main action to boost cryptocurrency as a safe along with alternate to fiat money. As well as, to enhance the adoption, people should make sure that their cash is secure.
Lee clarifies, “I assume safety is actually important. With cryptocurrency, you are your own financial institution, so you really need to shield your own coins.” Agreeing to Lee’s factor Ou specified, “The definition of being your personal bank ends up being actual because there will be no one able to stop you from sending your loan to somewhere you want or there will certainly be no one to freeze your properties.”
They proceeded to talk about mass adoption, mentioning that it’s hard to say when the mass adoption can be attained, Lee said, “I see mass fostering as most of people making use of cryptocurrency– Bitcoin, Litecoin, others. Using, they’re currently utilizing it for a shop of value, as well as for settlements.”
With mass crypto adoption, Lee, envisions a future where people will be able to spend their cryptocurrency anywhere just like debit card works with fiat money in a bank.
Difficulties to the vision of mass fostering
Both Lee as well as Ou really feels that upcoming obstacles to this mass fostering will certainly be being available in the kind of federal government guidelines. As a matter of fact, there are worries that the federal government policies could most likely to an extent of surrounding innovation and also suppressing further fostering.
Ou said, “… the regulators now still do not have the understanding of exactly how the entire IT side functions behind cryptocurrencies. So, they’re having a slow time accumulating their parameters.”
Krishna Teja Reddy is a crypto enthusiast and a market analyst. He is specializes in market analysis and strives to provide accurate crypto market statistics to the crypto community and cryptocurrency investors. He focuses on delivering quality news stories to him readers and aspires to be a successful business journalist.