The bitcoin and blockchain world is growing at a very rapid pace at the moment. Although the initial use-case of bitcoin was largely driven by its negative usage but now, as people have started to realize the potential presented forward by the underlying blockchain technology, more and more interest is being developed regarding the crypto space among different institutions and organizations.
It has just been over a decade since bitcoin erupted out on the financial scene. Just like every other technological innovation, it seems that bitcoin is still going through its evolutionary process as there are still some pretty major issues associated with it that need to be solved as soon as possible. Its definition in the financial world is still not concretely defined. While some believe it is a store of value, others are of the view that it is a global digital currency. Some even say it has the potential to act as both. But varied opinions are floating around regarding its actual nature in the financial world.
BlockPublisher recently got in touch with the partner and co-founder of BX3 Capital, Kyle Asman, as he shared his views regarding this nascent space of bitcoin. The following Q&A depicts the narrative presented forward by Kyle regarding the BTC world.
- Will bitcoin replace fiat or act as a reserve currency in the future?
Kyle: “I believe Bitcoin could act as a reserve currency at some point because it is not inflationary, and the supply is fixed.”
- Is it the digital gold?
Kyle: “I do look at it as a form of liquid digital gold.”
- Should this market be regulated?
Kyle: “This market needs to be regulated in order to survive. We are advocating for a light touch regulatory approach.”
- What can governments do to curb out the negative elements linked with bitcoin?
Kyle: “Governments can weed out the bad actors, and make the marketplace much safer. ”
Kyle pointed out the fact that bitcoin can actually act as a reserve currency sometime in the future because it does not have a variable supply. A global currency framework can then be put in place for the people across the globe if bitcoin is used as an alternative to fiat. This, if ever happens, can potentially revamp various marketplaces across the world.
Kyle also seemed to be of the view that regulations can help this market a lot. A lot of illegal activities and negative elements are associated with this space right now. With regulations and governmental intervention, these illegalities can be taken out of the picture forming a general layer of trust among the people regarding the crypto space. But then again, the essence of decentralization might get disturbed if the governmental control becomes too heavy. All in all, it seems that bitcoin has a very interesting ride lying ahead of it as developments are made in this arena with more and more people getting interested in it.