The former Wall Street executive and current CEO of the cryptocurrency Dash, Ryan Taylor, recently spoke to CCN and commented on the current situation in the crypto market. It seems like his perspective is quite optimistic and interesting for many investors.
In the exclusive interview, Taylor at first described why he escaped the Wall Street model, stating:
“I was led away from Wall Street for two primary reasons. The first is the tremendous opportunity I believe is inherent in the space. This is an incredibly immature industry with enormous potential for well-run projects. The second reason is that this technology has the potential to change the world for the better by empowering some of the most disaffected people in the world with a greater degree of financial freedom. It is truly an exciting place to be working.”
Meanwhile, Dash is a cryptocurrency and an autonomous organization (DAO) which focuses on helping merchants to handle private payments in crypto. Adopted in Venezuela by over 800 merchants, Dash is also active in Zimbabwe.
Taylor was working as a hedge fund analyst for a $20 billion investment firm based in New York. This is how he set up Dash and realized that crypto could make a great career for him. As he told CCN:
“Wall Street has a tendency to work on major new developments in private, and I suspect many others are working on solutions, even while simultaneously publicly shunning cryptocurrencies,”
Taylor addressed the effects of mainstream financial institutions entering the world of cryptocurrencies as well, stating:
“Crypto doesn’t need Wall Street to grow. It is getting adopted more and more every year with or without it. There are major benefits and drawbacks from its involvement, but I think netting those out, it is an overall positive thing that crypto is becoming more and more integrated with the traditional financial system.”
However, he is confident that there are both pros and cons when it comes to Wall Street’s involvement in crypto – as well as many other obstacles to be dealt with before we see the widespread adoption.
“Right now, regulatory uncertainty is preventing a lot of businesses from jumping in to provide services or become comfortable accepting payments in digital currencies. Regulators will eventually catch up and provide businesses with the guidance they need to gain comfort with it.”
As Taylor concluded, “cryptocurrency can become much easier to use if it is integrated with other financial systems and add to its utility. Would you rather use the U.S. dollar if it were not integrated with the financial system? By turning the question around, it becomes obvious that this will help crypto adoption.”
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