People need to understand cryptocurrency and blockchain: Argo CEO 23196 Jonathan Bixby, Argo
News
Nitin Murali
Sep 16, 2018 at 3:03 AM

Jonathan Bixby, Chief Executive Officer and Executive Chairman, Argo, discussed with Bloomberg on Friday the rout in cryptocurrencies and market investment in cryptocurrency.

Argo, a new decentralized and anonymous cryptocurrency is open source and available to everyone. It is based in London.

When asked if demand for Bitcoin miners suffered in the rout from crypto, Bixby believed that it is still in the early stages when it comes to Argo’s customers who are early adopters.

“I think the answer is very much that we are still in the early stages of market so most of our customers and miners, in general, are early adopters. I don’t think it has gone mass market and I think that there is a misconception around what crypto and blockchain is. Most people actually don’t understand it and early adopters believe from the mass market potential, I think we are yet to come,” said Bixby

He believed that the mass market potential will come when people try to understand what cryptocurrencies and blockchain are.

“I think the mass market potential will come when actually people try to simplify and understand what cryptocurrency and blockchain is. And, what it is, is the reaction to what happened ten years ago, which is, the centralized control of ledgers has some downside right from the mortgage crisis. By centralizing ledgers, you have a tax, toll, and a censorship; and bitcoin is a good example of a decentralized ledger which has a really important feature which is censorship resistance and when people understand the power of that, I think it will become more mass market,” he added

However, he felt that investment into cryptocurrencies has to be regulated.

“I think investment into it has to be regulated and that is why we (Argo) chose the London Stock exchange, one of the most reputed stock exchanges in the world. And I think that people need to understand what they are getting into, as you would in any investment,” he said.

See Also:

Samsung SDS to set up blockchain customs platform for Korea Customs Service

Cryptocurrency regulations should follow a ‘do not harm’ approach

Image via Bloomberg

Join our Telegram group