Daniel Skowronski spoke on a recent episode of CoinGeek Conversations with Charles Miller. Daniel shared his insight into why he feels banks and stock exchanges will fall behind by continuing to ignore the growth and popularity of digital assets. Skowronski has been named the General Manager of Fabriik Exchange, which launched in June 2021. He brings a strong finance background with him after working with mega-financial institutions HSBC and Bank of America.
“I think they are sort of a victim of their own self… they sort of became cocky; they sort of became arrogant” said Daniel referring to one of his many reasons for turning his back on the industry.
When asked if Fabriik Exchange will attract the big guys, he replied the platform was “built first and foremost around regulation because we’re starting to see bigger players, institutions, real money starting to flow in this industry.” Regulation compliance is a key piece that will entice those already heavily regulated institutions to come on board.
Daniel remains hopeful that Fabriik will “bridge the gap between the old world and the new world, but more importantly, create wider access to everybody.”
Wider access to everybody isn’t just a cliché. Access is one of the core values that Fabriik’s foundation is built upon. Access to anything digital requires the ability for a user to have an electronic device capable of accessing and sending data. More than 4.3 billion smartphone users exist worldwide. Many of them are considered underbanked because they don’t have access to traditional banks. Fabriik Exchange seeks to facilitate that access by allowing users to directly exchange coins and saving on high-cost transaction fees. This promotes the company’s ‘everything digital’ mindset.
Fabriik Exchange is well suited for individuals as well as institutions. It’s also a perfect fit for the young and old alike. Many individual users, especially the younger generations like millennials, are looking for a different way to invest. They want something they can relate to and different from how their parents and grandparents invested. Instead of buying a savings bond, they are going onto the blockchain through an exchange and buying 4-5 cryptocurrencies. This new way of thinking is exactly what the Fabriik Exchange intends to go after with its offerings.