Litecoin founder Charlie Lee as well as CoolBitX CEO Michael Ou lately shared about their views concerning the cryptocurrency market, hurdles that it’s presently encountering, mass adoption and other crypto-related topics. Charlie Lee as well as Michael Ou sat down with Thomas Hu, founder of Kyber Resources, Kyber Knowledge, as well as Kyber Base, in recent fireside conversation.
Throughout the warmed discussion, both of them shared that they think reliable mass adoption as the main step to raise cryptocurrency as a secure along with different to fiat money. And, to increase the fostering, people need to make sure that their money is safe.
Lee elaborates, “I believe safety and security is really vital. With cryptocurrency, you are your personal bank, so you actually need to secure your own coins.” Accepting Lee’s point Ou specified, “The definition of being your own bank comes to be actual due to the fact that there will certainly be nobody able to quit you from sending your loan to somewhere you want or there will be no person to freeze your properties.”
They proceeded to speak about mass adoption, pointing out that it’s challenging to say when the mass fostering can be achieved, Lee claimed, “I see mass fostering as most of people using cryptocurrency– Bitcoin, Litecoin, others. Using, they’re already utilizing it for a shop of value, as well as for settlements.”
With mass crypto adoption, Lee, visualizes a future where individuals will have the ability to spend their cryptocurrency anywhere just like debit card works with fiat money in a bank.
Hurdles to the vision of mass fostering
Both Lee as well as Ou really feels that upcoming barriers to this mass adoption will be coming in the kind of federal government laws. As a matter of fact, there are concerns that the government guidelines could most likely to an extent of surrounding development and curbing more fostering.
Ou stated, “… the regulatory authorities now still lack the understanding of how the whole IT side functions behind cryptocurrencies. So, they’re having a slow time developing their criteria.”
Krishna Teja Reddy is a crypto enthusiast and a market analyst. He is specializes in market analysis and strives to provide accurate crypto market statistics to the crypto community and cryptocurrency investors. He focuses on delivering quality news stories to him readers and aspires to be a successful business journalist.