♪
>> GOVERNMENT OFFICIALS AND
PRIVATE COMPANIES ARE AT ODDS
ABOUT THE ROLE THAT EACH SHOULD
PLAY IN CRAFTING
THE FUTURE OF MONEY IN YOUR
DRAFT DOCUMENTS SAYING THE
EUROPEAN CENTRAL BANK ECB IS
THEY'RE NOT IN YOUR HOOD
SHOULD CONSIDER ISSUING A
PUBLIC DIGITAL CURRENCY IN
RESPONSE TO FACEBOOK'S LIBRA
PROJECT WHICH WAS
NOT DISCUSSED THIS RNA SIMPSON
WHO IS THE FOUNDER AND MANAGING
PARTNER AT AUTONOMOUS PARTNERS
GREAT TO HAVE YOU WITH US THAT.
ABSOLUTELY THE SET RIGHT AND
HOW DO YOU SEE A PUBLIC DIGITAL
CURRENCY FITTING INTO THE
CRYPTO SAYS.
>> WELL I THINK IT'S REALLY
IMPORTANT THAT THERE IS
PARTICULARLY SOMETHING LIKE A
STABLE POINT
OUT THERE. YOU KNOW OBVIOUSLY
CRYPTO IS A VERY VOLATILE
SECTOR AT THE MOMENT GIVEN JUST
THE MARKET CAPS ARE FAIRLY LOW
AT PRESENT AND
YOU KNOW I THINK THE PRESENCE
OF A STABLE POINT IS NEEDED TO
ACTUALLY START HELPING THE
ECOSYSTEM INTEGRATE WITH THINGS
LIKE
PINK PEOPLE SALARIES THINGS
LIKE THAT WHICH REALLY YOU NEED
A STABLE CURRENCY FOR.
>> THE RAP
SUGGEST BANNING PROJECTS THAT
ARE CONSIDERED TOO HIGH RISK
AND I THINK SOMETHING THAT WE
HEAR A
ESPECIALLY YOU KNOW ON CRYPTO
TWITTER WHATEVER ACTUALLY WHEN
WE'RE TALKING ABOUT LIBOR IS
THAT IT CAN'T THREATEN STATES
AND MONEY BECAUSE IT IS BACKED
BY ABOUT IT. THE IS WHAT DO YOU
MAKE OF THAT PLAN.
>> YES AND NOW I MEAN I THINK
OBVIOUSLY THERE THEY'RE NOT
GOING TO BE CREATING A NEW
CURRENCY OUT OF THIN AIR THEY
ARE PLANNING TO HAVE A BASKET,
ALTHOUGH THE SPECIFIC
TO THAT KIND OF REMAIN TO BE
WORKED BUT I DO THINK SOMETHING
LIKE LIBRA COULD ACTUALLY HAVE
A
MEANINGFUL IMPACT SCALE ACROSS
THE GLOBE AND I DO THINK IT IS
ABLE TO PLAY A KIND OF THE
LEVEL
OF OF STATE GOVERNMENTS JUST
GIVEN THE SCALE OF FACEBOOK DO
YOU THINK FACEBOOK IS COP.
>> AND RIGHT NOW WHERE IS ITS
CONFIDENCE LEVEL AND THAT
IT WILL.
>> BE ABLE TO PUSH THIS FORWARD
AND ULTIMATELY GET THOSE
APPROVALS.
>> WELL I THINK YOU KNOW THEY
WENT OUT WITH A A BIT OF A
CAVALIER ATTITUDE IN SOME WAYS,
BUT I THINK THEY DO HAVE AN
EXCEPTIONAL TEAM IN THEY ARE
VERY COMMITTED TO MAKING
THIS HAPPEN NOW OBVIOUSLY THERE
ARE A LOT OF DIFFERENT
STAKEHOLDERS IT'S NOT ENTIRELY
UP TO FACEBOOK SO THEY'RE ONLY
ONE MEMBER OF THE LIBRA
ASSOCIATION AND SO GETTING
THIS OFF GROUND IS GOING TO BE
SOMETHING THAT REQUIRES THE
INVOLVEMENT AND PARTICIPATION
OF THE REST OF THE ASSOCIATION
IS WELL UM I THINK THEY'RE
REALLY EXCITED ABOUT AND
COMMITTED TO MAKING IT HAPPEN.
SO WE'LL SEE HOW IT SHAKES OUT
IN THE NEXT COUPLE MONTHS.
COINBASE IS A LEGAL CHIEF
SAYING THIS WEEK THAT THE
PRIVATE SECTOR.
>> OR SHOULD THE ONUS SHOULD BE
ON THE PRIVATE SECTOR TO BUILD
A US DIGITAL
I'M ARGUING THAT THE FED CAN
CONTROL AND ON MONETARY POLICY
ALL PRIVATE COMPANIES WELL, THE
TECHNOLOGY WITHOUT GOVERNMENT
REGULATION. DOES THE US NEED
ADDITIONAL DOLLAR.
>> I THINK I THINK IT DOES I
MEAN IT'S CLEAR THAT THAT'S
THE TREND WE'RE GOING OBVIOUSLY
CHINA HAS MADE SOME THAT SOME
ANNOUNCEMENTS A LOT OF THE.
CENTRAL BANKS AROUND THE WORLD
ARE CONSIDERING THIS OPTION
SWEDEN'S MOVING IN THAT
DIRECTION SO I THINK THIS IS
SOMETHING THAT WILL WE'LL BE
SEEING AND THE US EARLY RUNS
THE RISK OF BEING LEFT BEHIND
IF THEY DON'T START TAKING NOW
I'M NOT EXACTLY HOLDING MY
BREATH THE GOVERNMENT OR THE
FED TO WANT SOMETHING LIKE THAT
AND SO
I DO THINK THAT KIND OF
PRESSURE FROM OTHER COUNTRIES
IS GOING TO BE ONE OF THE
DRIVING FORCES, BUT I AGREE
THAT I THINK THE PRIVATE SECTOR
CAN BE KIND OF
A A POSITIVE FORCE IN KIND OF
MOVING THE CONVERSATION
FORWARD.
IN ADVANCE OF THE GOVERNMENT
ACTUALLY YOU KNOW MAYBE GETTING
OUR ACT TOGETHER OR NOT WITH
YOU.
>> I BELIEVE THE ROLE OF THE
BANKS WOULD BE
IN THAT FOR INSTANCE IF IT'S
COMING DOWN TO THE TECHNOLOGY
COMPANIES IN THE PRIVATE SECTOR
AND THEM DRIVING THIS
INNOVATION TO INFLUENCE THE
FINANCIAL SECTOR WHICH REALLY
HAD ONLY BEEN A STRONG AS THE
CONSUMER AND THE BANKS THAT
THEY WERE ABLE AND WILLING TO
WORK WITH OVER DECADES AND
CENTURIES REALLY
AT THIS 0.1 THING THAT GETS
LEFT OUT OF
THE EQUATION AND THIS AND THIS
LACK OF INNOVATION ON THEIR
SIDE COMES BACK TO THE BANKS
THEY HAVEN'T BEEN ABLE TO KEEP
UP WITH THE RATE OF INNOVATION
FROM
TECH COMPANIES SO WHO IS BETTER
SUITED AND IS THERE RIGHT
PARTNERSHIP THAT WE COULD SHOW
ITSELF STRONG.
>> WELL I THINK THE BANKS HAVE
BEEN SLOW TO INNOVATE THERE'S
THERE'S REALLY NO
WAY OR AND HAVING THEM INVOLVED
IN SOMETHING LIKE THIS. I DON'T
EXPECT BANKS TO BE SUPPLANTED
BY CRYPTOCURRENCIES TOMORROW OR
EVEN IN THE NEXT COUPLE OF
YEARS. I THINK IN GENERAL THERE
CERTAINLY SOCIETAL TRENDS
WHICH PUSHING BANKS KIND OF TO
THE OFF SKIRTS MILLENNIALS
CLEARLY DISTRESSED THEM
AND THERE'S YOU KNOW AS MUCH AS
PEOPLE TAKE ISSUE WITH SOME OF
THE BIG TECH COMPANIES. THEY
CERTAINLY TAKE MORE ISSUE OR AT
LEAST.
HAVE HAVE A LOT OF DISTRUST OF
BANKS AND TRADITIONAL FINANCIAL
INSTITUTIONS, SO I THINK THEY
WILL NEED TO BE INVOLVED.
BUT.
AND FRANKLY I THINK THEY'RE
THREATENED AS THEY SHOULD BE
BECAUSE I DO THINK THAT THERE
IS THE ABILITY TO CREATE A
NEW WERE FINANCIAL WHICH YOU
KNOW WHAT WILL KIND OF PUT THEM
ON IT AND WHAT ABOUT BIG
BEYOND.
>> BUT WE
COMPANIES LIKE APPLE AND UBER
FEAST THAT INCLUDED AND
CERTAINLY MORE I MEAN A TON OF
THEM HAVE BEEN DOING IT
FOR YEARS ENCROACHING MORE AND
MORE INTO THE FINANCIAL
SERVICES ASKED HIM SO AT WHAT
POINT. THAT HAPPEN IN 2020 OR
IS IT BEYOND THAT
WE SEE BIG TECH AND MORE INTO
CRYPTOCURRENCIES WHATEVER THAT
MEANS WHETHER IT'S STABLE 100
DIGITAL CURRENCIES ARE ANYTHING
I'M USING THAT TECHNOLOGY TO.
IT JUST TO MOVE FURTHER INTO
FINANCIAL SERVICES.
>> YEAH, I MEAN I SAW SOMEBODY
TWEETING THAT ONCE YOU BECOME
SUCCESSFUL IN UP EVERYBODY
BECOMES A BANK AND THAT'S
DEFINITELY WHAT WE'RE SEEING IN
TECH IS AS YOU POINT YOU KNOW I
THINK IT'S NOT SOMETHING THAT
HAPPENS OVERNIGHT. BUT IT
CLEARLY A SHIFT THAT WE'RE
SEEING. I EXPECT THAT 2020 IS
GOING TO BE A BIG YEAR FOR THAT
BECAUSE YOU KNOW WE'RE STARTING
TO SEE MOMENTUM IN THE CRYPTO
ECOSYSTEM IT'S NO
LONGER JUST CRYPTO COMPANIES
NOW IT'S SO FINE LAUNCHING A
CRYPTO PRODUCT, IT'S YOU KNOW
ALL OF THESE COMPANIES ARE
MOVING IN THAT DIRECTION AND IT
JUST MAKES SO MUCH SENSE FOR
SOME OF THESE CASES THAT THEY
HAVE AND SO YOU KNOW I THINK
WE'RE JUST THE BEGINNING OF
THAT TREND WOULD ASK YOU ABOUT.
>> THE FUND AS WELL ALL
AUTONOMOUS PARTNERS WHERE IS
THE HOLDINGS WORD OF A LIE AND
WHAT KIND OF ROTATION ARE YOU
KIND OF KEEPING IN MIND IF ANY
AT ALL.
>> YES, SO WE INVEST IN COINS
AND TOKENS AND EQUITY OF
BLOCKING BASED WE'VE BEEN
SPENDING A LOT OF TIME LOOKING
AT KIND OF FINANCIAL
INFRASTRUCTURE AND THE
DEVELOPMENTS
IN THAT ECOSYSTEM DECENTRALIZED
FINANCE 35 FEW. WELL, AH THAT'S
WHERE A MAJORITY OF THE I THINK
INTERESTING ACTION IS HAPPENING
THESE DAYS A LOT OF THE REAL
USAGE IS CONCENTRATED THERE AND
WE'VE ACTUALLY ALSO BEEN
SPENDING QUITE A BIT OF TIMING
GAMING WHICH I THINK IS GOING
TO BE KIND OF ONE OF THE FIRST
TRENDS TO REALLY USHER IN A NEW
WAVE OF CONSUMERS WHO ARE YOU
KNOW TRADING DIGITAL ASSETS
WANT TO HAVE A DIGITAL VERSION
OF THE COLLECTIBLES THAT THEY
MIGHT HAVE ANOTHER DAY.