TRANSACTIONS AND ALLOWS USERS
TO SEND MONEY WITHOUT FEES. I'M INTERESTED IN YOUR OWN MOVE
AS OF LATE. IS THIS ABOUT PRODUCING
COUNTERPARTY RISK? I UNDERSTAND THERE ARE A LOT OF
BENEFITS, BUT HOW MUCH DOES NOT REFLECT SOME OF THE WORRY IN
THE ECOSYSTEM AT LARGE? >> FIRST OF ALL, HELLO.
NICE TO SEE YOU. DIVISION OF THE COMPANY, WE
BELIEVE STRICTLY IN BITCOIN. WE BELIEVE THAT BITCOIN IS THE
INNOVATION OF DIGITAL CURRENCY, OF BLOCK CHAIN. US AS A COMPANY, WE ARE LASER
FOCUSED ON BEING A BITCOIN PROVIDER AND PROVIDING
IMPRESSIVE TOOLS. WE MADE A MOVE TO TAKE ALL OF
OUR CUSTODY, A LOT OF OUR PROCESS, IN-HOUSE.
WE DO NOT WANT TO WORK WITH OTHER PARTIES. IT IS A REALLY LONG PROCESS TO
COMPLY WITH REGULATION. WE ARE REALLY PROUD TO TAKE ALL
OF THAT IN-HOUSE AND BE THE BEST IN THE WORLD AT BITCOIN,
NOT CRYPTO. WE THINK WE CAN DO IT OTHER
THAN ANYBODY ELSE. ED: GOOD MORNING FROM SAN FRANCISCO.
OUR CRYPTO TEAM WAS RIDING OVERNIGHT THAT CRYPTO SHARE --
THEY ARE AT A 20 MONTH HIGH AND THERE IS A LOT OF CAUTION ABOUT
THE BROADER MARKET AWAY FROM BITCOIN.
WHAT DOES THAT TELL YOU? >> IT TELLS ME THAT MARKETS ARE
EFFICIENT IN THE WORLD IS FIGURING OUT WHERE TRUE VALUE
IS. IF I'M BEING HONEST WITH YOU GUYS, CRYPTO IS WORTH ZERO.
IT TAKES TIME. THIS IS A NEW INDUSTRY AND A
NEW TECHNOLOGY, BUT EVERYONE IS WAKING UP TO THE FACT THAT THE
ONLY THING TO DELIVER AND MAKE CONSCIOUS GROUND FORWARD IS
BITCOIN. REGULATORS ARE REALIZING THAT.
BUSINESSES ARE REALIZING THAT. THE NUMBER STILL SEEMS A LITTLE
BIT OFF, BUT I THINK THE WORLD CAN TAKE ITS TIME. CAROLINE: MANY PEOPLE WOULD LIKE IF SOME
OF THE SMALLER COINS ARE UNDER SOME CONCERNS OVER REGULATORY
IMPACT. LIKE MANY WOULD SAY, WHERE IS
THE REAL USE CASE AT THE MOMENT IN OTHER AREAS OF CRYPTO? HOW MUCH ARE WE SEEING THAT
BEING ADOPTED BY THE EMERGING MARKETS, WHERE MANY DO SEE
RAPID INFLATION? >> WE USE THE TECHNOLOGY FOR
PAYMENTS. THERE IS A DIGITAL PUBLIC
INFRASTRUCTURE FOR PAYMENTS. LET'S GET A MOMENT OF SILENCE
FOR THAT. THAT IS INSANE. LISA IS NOT PUBLIC
INFRASTRUCTURE FOR THE WORLD. IT IS LIKE A PUBLIC UTILITY
THAT WE ALL GET TO UTILIZE. IT IS OWNED BY NO ONE,
ACCESSIBLE TO EVERYONE. THINK OF IT LIKE THE INTERNET.
THE INTERNET IS GLOBAL, PUBLIC INFRASTRUCTURE FOR THE WORLD TO
COMMUNICATE. A REALLY POWERFUL THING.
IT REALLY CHANGED LIVES AND IT EMPOWERS HUMAN RIGHTS AND
REGIONS. BITCOIN IS VERY SIMILAR FOR
PROPERTY RIGHTS. WE USE DIGITAL PUBLIC
INFRASTRUCTURE TO MAKE IT CHEAPER, AND MORE INCLUSIVE.
I DO NOT THINK IT IS THAT COMPLICATED. I THINK IT IS SUPER SOUND AND
THAT IS EXACTLY WHAT WE DO. ED:
WE DO NOT HAVE TIME FOR MOMENTS OF SILENCE ON THIS PROGRAM. THE COMPETITIVE RAN -- I KNOW
THAT COIN BASE ANNOUNCED A PARTNERSHIP. IT IS ABOUT THE USE OF SELF
CUSTODY. HE RECOGNIZED THAT AS COMPETITION?
WHAT DO YOU MAKE OF THAT? >> THE WAY THAT WE THINK ABOUT
THE NEXT 20 TO 50 YEARS OF THIS INDUSTRY IS THAT IT IS NOT A
WINNER TAKE ALL OR WINNER TAKE MOST.
IF THEY ARE TO BE DEVELOPED, IT IMPLIES THAT A NETWORK HAS MORE
THAN ONE. I LOVE TO SEE OTHER BUSINESSES
AND COMPANIES JOIN US. IT MAKES OUR SERVICES MORE
VALUABLE. I AM A HUGE IS GREAT. MORE PEOPLE WILL BE ABLE TO BUY
CAROLINE: THAT CLAIM. HE IS A FELLOW BITCOIN MAXIMAL
LIST. THE OVERALL REGULATORY OVERHANG, PARTICULARLY IN THE
U.S., YES, YOU HAVE MOVED TO SELF CUSTODY, BUT MANY WOULD
SAY IT HAPPENED IN TANDEM AND THERE WERE RUMORS OF YOUR
FORMER CUSTODIAN. THESE ISSUES AND WEAKNESSES,
DOES THAT ADOPTION IN THE LONG TERM? >> DAMAGE WHICH ADOPTION?
CAROLINE: THEY CLAIM BECAUSE THEY ARE
CAUGHT UP IN THE SAME NARRATIVE. >> TOTALLY. I THINK
THEIR JOB IS TO THEORETICALLY -- I'M JUST EXPLAINING WHAT IS
GOING ON. THEIR JOB IS TO PROTECT THE
ETHICS AND MORALITY IN THE U.S. FINANCIAL MARKETS.
THE NOTION THAT THEY WOULD HAVE AN ISSUE WITH EVERYTHING BUT
BITCOIN DOES A LOT. IT DOES NOT SEEM LIKE AN
ETHICAL, MORAL -- IT IS A PROBLEM.
HOW DO WE FIX THAT, WE GO THROUGH WHAT WE ARE NOW. GIVING PROPER TRANSPARENCY TO
THE AMERICAN PUBLIC. I THINK WHERE THIS LEAVES US,
VALUE IS GOING TO ACCRUE WHERE IT IS REAL.
WHERE I THINK IT IS MORAL, ETHICAL, INNOVATIVE, BETTER,
FASTER AND CHEAPER IS BITCOIN. THE PATH IS ALWAYS GOING TO
BECOME LOCATED AND THAT IS PART OF FREE MARKETS, WHICH AMERICA
LOVES DEEPLY. YOU'RE GOING THROUGH
FREE-MARKET DISCOVERY. WE HAVE BEEN THROUGH IT BEFORE
WITH THE INTERNET AND WE ARE SEEING MORE PATTERNS NOW.
IT IS ABUNDANTLY CLEAR THAT IT IS BITCOIN.
