Litecoin founder Charlie Lee and also CoolBitX CEO Michael Ou just recently shared concerning their sights concerning the cryptocurrency market, hurdles that it’s presently facing, mass fostering and other crypto-related topics. Charlie Lee as well as Michael Ou sat down with Thomas Hu, creator of Kyber Capital, Kyber Knowledge, as well as Kyber Base, in recent fireplace conversation.
During the heated conversation, both of them shared that they believe effective mass fostering as the primary action to raise cryptocurrency as a secure as well as alternate to fiat money. And also, to boost the adoption, individuals need to make sure that their money is risk-free.
Lee elaborates, “I assume safety and security is really crucial. With cryptocurrency, you are your very own financial institution, so you actually have to secure your very own coins.” Accepting Lee’s point Ou specified, “The meaning of being your own financial institution becomes actual since there will be no one able to stop you from sending your money to someplace you desire or there will be no one to freeze your assets.”
They proceeded to speak about mass adoption, mentioning that it’s difficult to state when the mass fostering can be accomplished, Lee said, “I see mass fostering as the majority of individuals using cryptocurrency– Bitcoin, Litecoin, others. Using, they’re already utilizing it for a store of value, as well as for settlements.”
With mass crypto adoption, Lee, visualizes a future where individuals will certainly have the ability to invest their cryptocurrency anywhere similar to debit card works with fiat currency in a financial institution.
Obstacles to the vision of mass adoption
Both Lee and Ou feels that upcoming challenges to this mass adoption will be coming in the kind of government policies. As a matter of fact, there are fears that the government laws could go to a level of smothering technology as well as suppressing further adoption.
Ou said, “… the regulatory authorities currently still lack the understanding of how the entire IT side functions behind cryptocurrencies. So, they’re having a slow-moving time developing 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.