Blockchains adoption by big players
Yesterday I performed my third live interview for Voice of America. Taking into account the fact that it was in Russian, I want to share a transcript.
Interviewer (Boris): With me in the studio is cryptocurrency expert Sergii Gulko. Hi Sergii, thank you for taking the time to speak with us.
The tendency is understood in crypto, the question is will the inclusion on blockchain technology in finance operations speed up the legalization and adoption of crypto in general?
Sergii: Hello Boris, thank you for having me on again. I partially do not agree with the previous commentator because from our point of view the optimal use case for blockchain is finance. It’s organic and quite a good use case.
Any speculations that banks using blockchain tech will positively influence price of bitcoin is honestly wrong because banks and institutions are pragmatic, they use their own proprietary tech, closed technology, private chains, nothing to do with bitcoin or ether.
Maximum they might drop transaction hashes in public chain.
For example if information that an oil tanker is sailing will be published and Somali pirates see that, there will be a warm welcome.
The approach is pragmatic. Maybe HSBC’s stock will go up because they propagate news about how they are using young and exciting blockchain technologies in their operations.
Boris: Understood — quick question — since we’ve met last you have attended an important trading conference in Chicago — what are some of the key takeaways?
Sergii: There is a clear movement of technology integration — half the people at the Chicago trading show were tied to crypto in some way — and these are important players, large institutions, not just small crypto hedge funds, that are ready to trade and invest. This is an exclusively pragmatic approach — buy, sell, make money.
Boris: Notheless, this is a good sign, right?
Sergii: Absolutely. This tendency is very positive in general for the crypto market.
Boris: Great, we will keep an eye on this. This has been Sergii Gulko, our resident cryptocurrency expert.
