OpinionInstitutions still love crypto says, John Wu

Institutions still love crypto says, John Wu

Why do Institutions still love crypto? John Wu says Let’s define the institutions there are two types of institutions. There are like financial services institutions kind of what we’ve been talking about because the d5 been but there’s also just enterprises or Adidas Nike whatever. So the financial institutions, they’re very aware that the power of the blockchain or the cryptosystem is that when you need information and money to move at the same time blockchain is a very powerful tool for that. 

Institutions still love crypto: So when you settle a stock there are so many intermediaries. When we talked about swift early there were so many intermediaries. In credit cards, there are so many intermediaries and they’re all working off of their own respective databases and lots of reconciliation has to happen. A lot of the financial services players are actually experimenting with blockchain. The amount of experimentation in blockchain development is not just experimentation innovation labs but the amount of development. Whether it’s jpm coin monetary authority Singapore or DBS with jpm trying to tokenize wholesale lending. City doing the custody recently sat gen you know working with maker dow.

Institutions still love crypto: They are looking at it as a way technology way to create efficiency and create more productivity and squeeze costs out. So that’s one part of the equation for institutions. The other part of institutions is really new business models. New business models that will enhance user experience brave browser for instance. I think you know it’s been around for a long time. So I’m sure you know it very well but I think it’s kind of cool that they protect you and your privacy. They don’t allow your digital fingerprint or your digital traversing of the internet to just be sold. You have to actually opt into that.

Read: Bitcoin’s Proof of Work DOMINATES Proof of Stake: Jack Mallers

So once you opt into that then you can get paid in basic attention tokens. So you actually decide on your privacy. You then own your data and in other words tokenization and this whole new world for institutions will change. Because the users will now be at some point will be able to basically turn their searching into an asset via tokenization and get the choice of privacy or monetization.

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