Cryptocurrencies pose a threat to venture funds and Bitcoin may become a new global currency
28 August 2017
28 August 2017
Bitcoin may become a new global currency and crowdsales pose a serious danger to venture capital sector. It was stated by the major investor, former COO of PayPal, and founder of Yammer David Sacks.
In the interview for CNBC, Sacks told that thanks to cryptocurrency every asset, means of ownership, and mechanism of payments were getting more and more efficient. He highlighted that Bitcoin was implementing PayPal’s plans to create a single global currency. The company introduced interest and debit cards for users to have a possibility to store funds in the system instead of withdrawing them to bank accounts. Further, eBay purchased PayPal and its attempts to become a centralized depositary ended. The company’s vision of the financial operations of the future has been fulfilled by cryptocurrencies. However, unlike PayPal, the system for electronic money transactions is decentralized. And that is its main advantage.
According to the expert, the world has faced a fundamental change, which has gone unnoticed by many people. The point is that money can be coded now. That is a huge benefit for the world economy.
Most citizens in the USA underestimate Bitcoin, as the US dollar is a stable currency. In countries, where financial institutions cannot boast such sustainability, cryptocurrencies represent a new way to secure the capital.
One of the important theses of the interview with Sacks was about raising funds through ICOs as a direct threat to venture funds. Whereas earlier startups were using money provided by funds, now they raise money via crowdsales. Moreover, terms of crypto capital are much more beneficial than venture investments.
December 7, 2017
St George`S Bay, St Julians
Malta will become the hub of the fintech industry in Europe!
Three intensive conference sections:
• Blockchain solutions in practice
• ICO trends
• Panel discussion: Legal and Regulatory Challenges in Blockchain
Our participants are entrepreneurs and experts in legislation, blockchain developers, investors, startup founders, bitcoin enthusiasts, financial specialists and bankers, lawyers, representatives of payment systems.
Why you should attend:
• 20 Top-notch Speakers and many industry experts;
• extensive business program of the Conference;
• 3 intensive conference sections;
• best well-known Sponsors;
• more than 16 outstanding Exhibitors
We will be glad to see everyone at Blockchain & Bitcoin Conference Malta 2017!
Meet new speakers and key news of the conference