Litecoin founder Charlie Lee as well as CoolBitX CEO Michael Ou just recently shared concerning their views pertaining to the cryptocurrency market, obstacles that it’s presently encountering, mass fostering as well as other crypto-related subjects. Charlie Lee as well as Michael Ou took a seat with Thomas Hu, founder of Kyber Resources, Kyber Intelligence, and also Kyber Base, in current fireside chat.
Throughout the warmed discussion, both of them shared that they think effective mass fostering as the key step to elevate cryptocurrency as a safe along with different to fiat money. And also, to increase the adoption, individuals should be sure that their loan is risk-free.
Lee clarifies, “I believe safety is really crucial. With cryptocurrency, you are your very own bank, so you in fact need to secure your very own coins.” Consenting to Lee’s factor Ou specified, “The definition of being your very own bank becomes actual since there will be nobody able to stop you from sending your loan to someplace you desire or there will be nobody to freeze your properties.”
They proceeded to speak about mass adoption, stating that it’s tough to state when the mass fostering can be achieved, Lee claimed, “I see mass adoption as the majority of individuals using cryptocurrency– Bitcoin, Litecoin, others. By utilizing, they’re already utilizing it for a store of value, and for settlements.”
With mass crypto fostering, Lee, visualizes a future where individuals will certainly have the ability to invest their cryptocurrency anywhere much like debit card works with fiat money in a bank.
Difficulties to the vision of mass adoption
Both Lee as well as Ou really feels that upcoming challenges to this mass adoption will be coming in the kind of federal government regulations. In fact, there are anxieties that the federal government regulations might most likely to a level of smothering advancement and also suppressing more adoption.
Ou claimed, “… the regulatory authorities now still lack the understanding of just how the whole IT side works behind cryptocurrencies. So, they’re having a slow-moving time building up their criteria.”
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.