Cryptocurrencies Finally Getting Approval - Phkay Prek

Saturday, 30 June 2018

Cryptocurrencies Finally Getting Approval

Cryptocurrencies are quite a buzz across the world. There is confrontation going on between the intelligent investors who sees crypto world as haven for investments and the state governments that are trying to protect the state’s currency and its regulated financial market. Most state governments of the world are trying to undermine the potential of cryptocurrencies and thereby ruining the prospect of smart investments.
However, despite these attempts, cryptocurrencies took the stage at the WEF (World Economic Forum) in Davos, Switzerland.
The panel, dubbed “The Crypto-Asset Bubble,” featured Cecilia Skingsley, deputy governor of Sweden’s central bank; Jennifer Zhu Scott, Radian Partners principal; Neil Rimer, Index Ventures general partner and co-founder; and Robert Shiller, the Nobel Prize-winning economist. The session was moderated by Yang Yanquing, deputy editor-in-chief of Chinese finance media conglomerate Yicai.
Retreating from his previous stand, Shiller admitted that cryptocurrency is a “really clever idea.”
Rimer of Index Ventures called bitcoin
“one of the most audacious, generous and profound inventions.”
He also pointed out the enormous potential that this digital currency has as it only nine years old. He also said in a post
“We’re nine years into this experiment. It’s gone well at times and quite poorly. It could fail completely and go to zero, but it has accomplished a number of things I think are remarkable.”
Scott commented on the discussion around price movements,
“The fact that people keep talking today that bitcoin is below 10,000, it’s a disaster, or bitcoin is above 10,000 and that’s crazy. I think the fact that bitcoin is still alive, and attracting so much attention, the fact that we’re talking about bitcoin in Davos with a Nobel Prize winner, a central bank governor and a seasoned investor, I think that’s a powerful tool.”
Thus, the industry experts and the subject matter pundits are grudgingly accepting cryptocurrencies as useful financial investment options and the fact that investors are profited highly because of it. This is a good sign for investors and what establishes the cryptocurrencies a trajectory of financial growth and stability.