From a Former US Treasurer on Crypto in 2022

From a former US Treasurer on Crypto in 2022. The former U.S. Treasurer Rosie Rios believes that if you are just getting started. Thinking about investing in cryptocurrencies or blockchain technology. It is likely that you will be too late to get in on the ground floor of the cryptocurrency. Or blockchain technology revolution.

Rios speaks with CNBC Make It about his time as Treasury Secretary in the Obama Administration. Which spanned from 2009 to 2016. As Rios explains, “the train has. Already departed from the station.” “Blockchain technology finally made it to the mainstream.”

A substantial portion of Rios’ post-government work has been devoted to investment and cryptocurrencies. And she is currently a visiting scholar at Harvard University. “Unicorn Hunters” is an internet reality show in which she participates as a co-investor. With co-stars Steve Wozniak and Lance Bass in the pursuit of unicorns. She sits on the board of directors for blockchain start-up Ripple. Which is the CEO of real estate investment consultant business Red River Associates. Both of which are based in San Francisco.

Moreover, A result of her own experiences, Rios claims she has one piece of advice. For anyone considering investing in blockchain-based platforms or assets. Such cryptocurrencies or non-fungible tokens such as (NFTs).  Try to keep your questions short and clear, such “Is the product usable?” Or “Is there room for expansion?”

Since industry experts generally believe that assets such NFTs are speculative flash. In the pans, Rios says she will only invest in platforms that have development potential. And that provide meaningful services or also real-world value to their clients.

“Determining if something has intrinsic value or not is very essential to me,” she also explains.

Understanding its “Responsible” usage

For her, understanding how it can be used “responsibly” and whether it can save. You time or money in the real world are essential components from a former of her job. Ripple’s cryptocurrency, XRP, boasts the ability to conduct. Cross-border transfers faster and at a lower cost than traditional foreign exchange services. Which she also believes is the primary reason she joined the company’s board of directors.

“It isn’t only about the future,” Rios explains. “It’s already being utilized all around the world,” says the inventor.

Rios expects that the year 2022 would provide greater regulatory certainty. To the cryptocurrency business, which is critical. An international group of regulators, including the Federal Reserve of the United States. Stated in November that lawmakers intend to provide more clarity. On how banks and such as other large financial institutions would permitted. To also handle bitcoin beginning next year.

Even Ripple, which has involved in a long-running battle against the Securities and Exchange Commission. Over whether it XRP cryptocurrency should classified as either a virtual currency or a securities. Has expressed a need for more clarity. The latter designation would also necessitate it subjected. To a higher level of regulatory scrutiny.

Leaving regulations aside, the cryptocurrency market appears. To poised to continue booming in 2019. After surpassing $3 trillion in total value for the first time in November. Major corporations such as Microsoft, PayPal, and even Burger King. Have already begin to accept cryptocurrencies in some form or another.

Additionally, Others have already made their intentions known. AMC Theaters has announced that it would begin accepting bitcoin as payment. For movie tickets in the near future, and WhatsApp has also announced. That it is also testing a new crypto payments function.

Leave a Reply

ten − 4 =