Bank Accounts, Global Financial System, Seventy Percent discussed on Unchained: Big Ideas From The Worlds Of Blockchain And Cryptocurrency - Why Digital Currency Group's Meltem Demirors Is Skeptical Of Crypto Hedge Funds

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Completely disrupts their business model would like some specific challenges right now where you're kind of like oh would be helpful if needed the regulators did excellent z yeah i think the biggest challenges really around bitcoin companies there's all currency companies getting bank accounts that's really really the biggest biggest challenges you jal hothouse still even now even every day this problem we have operating accounts but more importantly transactional accounts where you can actually transact with your customers really challenging to obtain but more importantly really really challenging to maintain as this is where i think as an industry are one of the dialogue sutphin having a lot is would it be possible to create a selfregulating organization can we as an industry sort of develop a set of best practices and start to self govern to sort of creates that relationship with regulators to show bank so we are being very forwardthinking in in how we're sort of viewing the role of big coin digital currency companies in the global financial system out of getting audited by professional auditing firms having data aggregation around market structures to sort of ensure that there isn't too much risk in in the way the digital currency market is growing and evolving there's a lot of risk is sexualization of digital acid exchange on specific platforms and i think we have a new eu minute centralisation would we mean by that what i mean is on there's a lot of systemic risk if you have a lot of being hacked or something right but even the risk of the destruction of service today is seventy percent of the volume of trading happens on one platform that's really problematic for the industry rights if all of the companies in the space rely on four or five key partners and one of those banking partners.

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