Meltem Demirors: crypto ecosystem growth will come from New York and existing financial centers

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Speaking at a panel in Davos at “Innovate Finance,” an event co-hosted by The Block and E8 Partners, Meltem Demirors, the Chief Strategy Officer at CoinShares, said she thinks that most of the innovation in the cryptocurrency space will come out of the already existing financial centers, headed by New York. Demirors said that growth of the ecosystem will come from understanding the regulatory environment as well as building the things that people can use, trust and feel safe using.

 

Demirors said: “While the regulatory arbitrage is interesting, countries like Malta are not big financial markets. The issue is that we have already seen this with challenger banks; the minute the EU regulators don’t like what’s happening, they cut off access. So while it’s great to be in Malta or Bermuda or other friendly jurisdictions, people want to be where the assets and markets are. Until that shifts, I think it’s going to be difficult to see that moving.”

Nevin Freeman, co-founder of Reserve, felt differently. He stated that he believes growth will come from people who originate from New York, Silicon Valley, Berlin etc. and have the entrepreneurial and technical skillset, but who will be willing to move to the parts of the world that need crypto the most. Freeman said he thinks there are some bold people that are already doing that. Freeman said success and growth will come from “the combination of having the real world understanding but also having the entrepreneurial drive”

George Kikvadze, the Vice Chairman of the Bitfury Group, had a 3rd differentiated take. He said that cryptocurrency technology is not an American or Silicon Valley technology but rather a truly decentralized global technology. According . to Kikvadze, “My money is on the Chinese but also Europeans and Africans. What is unique about the technology is that it is truly global and things are happening really fast.”

Riccardo Spagni, the lead maintainer of Monero, said that he has seen many interesting things happening in South Africa, Nigeria, Kenya and Tanzania. Spagni thinks that there are many smart people that are working on interesting things in Africa itself.

The panel can be viewed in its entirety here:

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Meltem Demirors: crypto ecosystem growth will come from New York and existing financial centers written by The Block @ https://www.theblockcrypto.com/2019/01/28/meltem-demirors-crypto-ecosystem-growth-will-come-from-new-york-and-existing-financial-centers/ January 28, 2019 The Block

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