Davos participants seem to be on board with cryptocurrencies. Yeah, its NOT all negative and regulation (or, HOW TO) is the main concern. As we have posted before, Sweden’s central bank is considering their own digital currency (the “e-krona) since they have fully recognized that cash is rapidly going out of style. Unlike the rest of the world, the US is more concerned about cryptos being used for “illicit activity” (like “illicit activity” didn’t exist before bitcoin?) before jumping on the crypto train. So, the overall feeling at Davos is very much in favor (or, favour in Europe) of the digital currency revolution. And, if you don’t want that stinky old cash, just send it over to us. Thanks in advance.
“Davos: Regulations for crypto currencies can help boost public trust in them as many nations are looking to take advantage of this disruptive innovation, according to experts participating in the WEF summit.
While the regulations for cryptocurrencies are still evolving, Sweden is already planning to launch its own digital currency.
The price of bitcoin has increase more than 12-fold in the past four years and the combined market of crypto-assets is now valued at over $500 billion, as per a release issued by the World Economic Forum (WEF).
“I do think (crypto currency) needs to be regulated, just like anything I would want to become mainstream should be regulated,” said Neil Rimer, general partner and co-founder of Switzerland-based Index Ventures, adding that regulation could be one way of increasing public trust in the experiment.
The release said that not only are nations seeking to regulate the use of crypto currency, many are also looking to take advantage of the disruptive innovation associated with it.
Cecilia Skingsley, deputy governor of the Swedish Central Bank (Sveriges Riksbank), said Sweden is considering having its own digital currency “e krona” that would complement traditional notes and coins…”