Dash CEO and former Wall Street executive director Ryan Taylor talked about Wall Street, which was recently seen in the field of Crypto Currency.
Ryan Taylor explained why he left Wall Street to deal with crypto currency
In an exclusive interview with CCN, Taylor said:
“I left Wall Street for two main reasons. The first is a great opportunity, which I consider inherent in crypto space. This is an incredibly immature industry with a huge potential for well-managed projects. The second reason is that this technology can change the world for the better, providing an opportunity for many people in the world greater degree of financial freedom. It’s really an exciting place to work. “
Dash is a crypto currency and digital autonomous organization (DAO), which allows traders to process private payments in the crypto currency. The Crypto currency was accepted in Venezuela by more than 800 traders and is also active in Zimbabwe.
After 15 years in financial services and technology, Taylor left his position as a hedge fund analyst working for a $ 20 billion investment company based in New York to create Dash, and he has an idea of how everything works behind the scenes in the traditional financial world.
“Wall Street tends to work on major new developments in the private sector, and I suspect that many others are working on solutions, even with the simultaneous public avoidance of crypto currency,” Taylor said.
Crypto-currency does not need Wall Street
The influence of the main financial institutions investing in crypto-currencies is not yet evident, but Taylor believes that the crypto-currencies will act independently of external influence.
“Crypto-currency does not need Wall Street to develop it. It is accepted by more and more people every year with or without it. There are significant advantages and disadvantages to Wall Street involvement, but I think that there is nothing that is a common positive thing that the crypto currency is becoming more integrated with the traditional financial system. “
“Crypto currency can become much easier to use if it is integrated with other financial systems and adds value to them. Would you rather use the US dollar if it were not integrated with the financial system? Turning the question, it becomes obvious that this will help the crypto-currency implementation, “he added.
While Taylor admits that Wall Street has advantages, as well as shortcomings that are becoming more attractive in crypto-currencies, there are other obstacles that need to be addressed before we see widespread adoption.
“Now regulatory uncertainty prevents many companies from accepting and providing services, comfortably accepting payments in digital currencies. Regulators will eventually adjust this sphere, to the necessary comfort. “
“When banks massively accept crypto-currencies, I think regulators will need to finally solve this problem. The problem is that regulators tend to focus on institutions, and this is an unusual market that has evolved from grassroots movement by ordinary people, not financial institutions. As a result, the regulators were at their back heels, but they seem to be coping with this task quickly, “he concluded.
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