The CEO of digital asset hedge fund Pantera Capital, Dan Morehead, is revealing an “existential threat” that the crypto trade faces.
Morehead says that many of the dangers that the crypto trade has encountered since its inception have disappeared however the regulatory dangers stay.
“I believe the most important sort of existential threat that I fear about continues to be regulation.
After we began taking a look at crypto a few years in the past, there was a protracted record of dangers . A whole lot of issues that would have gone flawed. And most of them have been taken care of. There are nice custodians now, the code’s been working for 13 years, all that. So many of the dangers are gone.
The one one which’s nonetheless actually regarding is the regulatory bit and particularly in america the place there isn’t sufficient regulatory readability.”
In keeping with the Pantera Capital CEO, regulatory uncertainty within the US discourages innovation or drives away concepts, entrepreneurs and startups to extra pleasant jurisdictions.
“It’s [lack of regulatory clarity] both forcing corporations and tasks to go offshore which is unlucky. Or it’s hampering innovation as a result of individuals are afraid of adverse penalties.”
Relating to crypto adoption, Morehead says that just about all smartphone customers globally may very well be utilizing blockchain know-how inside two to 4 a long time.
“I believe we nonetheless are very early. And there’s nonetheless such a small variety of folks which can be engaged on this. Perhaps 200 million folks, one thing like that.
There are three billion folks with a smartphone, proper? And I believe it’s fairly inevitable virtually everyone on earth with smartphones may use blockchain in 10 or 20 years.”
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