One of the most important industries in the world is obviously finance. Money makes the world go ‘round, as they say, but there are limitations in conventional options that result in millions of dollars in lost revenue and resources each year. Blockchain is known to be able to help the financial ecosystem overcome these losses, and a panel led by a group of leading financial experts during the CoinGeek London conference in February shows how far things have come to merging finance and blockchain. CoinGeek’s Johanna Botta met with three of the panelists following their discussion to learn more about what they see occurring in the world of finance over the next several years.
The panel saw participation from Shawn Dorsch, president of Clear Markets, a firm that operates regulated exchanges for derivatives in North America and Europe. Joining him was Teong Hng, founder of Global Alpha Trading out of Hong Kong, a company specializing in blockchain and digital currency trading, as well as Gabor Nagy, the business development director for OKCoin in Europe, and Roy Bernhard of the Bayesian Group. Offering a range of viewpoints related to finance and blockchain, they all realize the potential that BSV has at helping bring traditional finance into the 21st century.
Of course, as history has shown, change isn’t always welcome. Introducing new technology to an industry that has been around for more than 100 years is not an easy feat, and being able to integrate new ideas with existing solutions, especially in finance, introduces a series of challenges. However, Hng is up for the challenge, and is busy educating the public about the merits of BSV and how it can be scaled to meet any level of operations while, at the same time, offering a more cost-effective, more efficient solution.
Nagy sees a lot of the same challenges that Hng is experiencing. Educating the general public market that blockchain is not just a fad and that it offers tangible solutions to real-world financial problems is one of the mountains that have to be climbed for blockchain acceptance. However, as was demonstrated by the participation of Nagy and the others at the CoinGeek Conference, progress is being made.
Dorsch echoes those sentiments, but also sees regulations as being an issue. The lack of global digital currency and blockchain regulations is an impediment to widespread global growth, but things are finally beginning to change. BSV is helping to make that happen, according to Dorsch, by offering a blockchain solution that is regulation-friendly, and which can easily work with existing legal and regulatory frameworks. He predicts more regulators will realize BSV’s potential, possibly leading to further adoption at the highest levels. He’s excited about the direction things are headed, adding that we’re just “scratching the surface of what’s to come.”
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