Coti Webinar: Greg Kidd on the future of money, payments, and digital identity
globaliD co-founder and CEO Greg Kidd recently participated in a webinar hosted by Shahaf Bar-Geffen, CEO of Coti, a decentralized payments network, to discuss emerging trends and technologies in the industry.
Greg chats about his involvement with companies like Twitter, Coinbase, and Ripple as well as more recently, companies like TransferGo, Uphold, and GateHub. Greg is also the founder of Hard Yaka, a investment firm focusing on fintech.
In an illuminating half-hour interview, Greg gives his take on the future of money, payments, and digital identity. Some highlights (which have been slightly edited for readability):
“I think there needs to be a regulatory environment that is friendly. We need to help educate regulators and get involved with lobbying efforts to make sure that cryptocurrencies aren’t overburdened by regulations. We also need tax policies that are more supportive of their use.”
“Liquidity is a big issue. People want to be able to get in and out of currencies without feeling like there’s a lot of a friction, like they’re paying a margin just to get into a crypto or fiat currency.”
“We tend to think of stablecoins as a great way of doing cash back if companies are running loyalty programs.”
“What we encourage is that we create an infrastructure where everybody in the world — and I really mean everybody in the world — has an identity and attached to that identity they have what we call a hot wallet, which acts as a stored value account such that they can hold their native fiat currency from the country they live in but also have a cross liquidity option such that they can hold any other currency including cryptocurrency.”
“What we’re seeing right now is that there used to be very separate realms for having a digital wallet, typically just in one currency for p2p payments and having a stored value account usually attached to a debit card and having a money transmitter service including the ability to hold multiple currencies. In the future, we see those three realms merging together. It’s hard to imagine why someone would have a digital app on their phone that didn’t do all three of those things because they all involve money. They just involve different situations.”
Check out the entire webinar courtesy of Coti.