• About Us
  • Privacy Policy
  • Contact
Mortgage Insurance Center
  • Home
  • Mortgages
  • Health Insurance
  • Home Insurance
  • Life insuranace
  • Finance Laws
    • Banking Laws
    • Assets
    • Interest Rate
    • Loans
No Result
View All Result
  • Home
  • Mortgages
  • Health Insurance
  • Home Insurance
  • Life insuranace
  • Finance Laws
    • Banking Laws
    • Assets
    • Interest Rate
    • Loans
No Result
View All Result
Mortgage Insurance Center
No Result
View All Result
Home Assets

Kevin O’Leary on Leading and Innovating to Build a Better Digital Asset Marketplace

by Matthew Upton
June 4, 2022
in Assets
0
Kevin O’Leary on Leading and Innovating to Build a Better Digital Asset Marketplace
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

The crypto market is expected to grow to $32 billion by 2027, and with trillions of dollars sitting idle in the global economy, all eyes are on the debates happening in the U.S. right now as committees ramp up their discussions on regulations.



Bloomberg | Getty Images

This brought me to Shark Tank‘s Kevin O’Leary, who is a strategic investor in WonderFi, which provides novice users with a simple way to buy crypto on regulated exchanges like BitBuy and Coinberry, earn interest and track performance while maintaining full control and custody of their assets. I reached out to O’Leary because I was interested in how talks are progressing and how the team at WonderFi continues to build the platform in preparation for big changes. As a consultant who supports businesses to implement digital assets, I knew there was a wealth of knowledge to tap into.

I asked O’Leary how the pressure of this venture is different from any other he has previously been involved in. “The optics, coverage and pressure are tremendous,” he says. With so many eyes not only watching how the crypto market is trending, but also seeing the splashy headlines and the sensational storytelling that makes for great streaming, the burden of getting accurate information out to the public and in front of policy makers is very real.

O’Leary spares no time in affirming the talent that is the executive team at WonderFi and the work that they are doing in building an ecosystem that, coupled with policy and strong regulations, will alleviate much of the artificial news and noise surrounding crypto.

In my conversation with O’Leary, we jumped right into the status of discussions with policy makers. Momentum has continued to build, particularly over the past 12 months. President Biden signed an executive order in March 2022 for the Federal Reserve to explore if it should create its own digital currency, saying at the time that it would “help position the U.S. to keep playing a leading role in the innovation and governance of the digital assets ecosystem at home and abroad, in a way that protects consumers, is consistent with our democratic values and advances U.S. global competitiveness.:

“All eyes are on the U.S. without a doubt,” O’Leary says. “The shift on Capitol Hill is profound. The issue is not bipartisan, with both sides eager to be present and fully engaged in full room discussions on where policy is headed.”

Related: Rough Monday For Bitcoin: 5.2% Drop in 24 Hours

Vision for Change

Cryptocurrency has been swarmed with negative attention in mainstream media, social media and numerous scandalous documentaries. I was curious to know what it was that O’Leary saw in crypto that many of us missed and still aren’t seeing. “Choice,” he says, “people are tired of the banks and being chained to their rules.”

Dissatisfaction with the banking system is not new, but most people have no option but to adapt and keep cash flow moving. If there’s one thing that O’Leary is known for, it’s his belief that cash flow is priority number one in business.

But O’Leary has experienced firsthand the frustration that can come with using the traditional banking system. In April, when his company was in the midst of closing a deal worth millions of dollars, the wire transfer between the U.S. and Canada was lost for multiple days, requiring multiple associates to work for hours to unwind the transaction and “find” the funds to secure and close the deal. Ultimately all was sorted, but should this happen? “Who is liable for interest lost, deals that don’t get executed?” O’Leary asks. He’s right. The bank doesn’t lose your money, but for a few days it’s disappeared. This happens more often than most would imagine and does not inspire confidence or credibility, but few fight against the institution.

“Using stablecoin, it would have succeeded in minutes and would have saved my team countless hours,” O’Leary says. It is inarguable that had this transaction occurred on a regulated crypto platform, it would have been protected securely end-to-end using the Blockchain technology that is the basis of the strength that crypto presents, makes it attractive to many and provides the control we require.

Related: SEC Nearly Doubles Size of Crypto Unit to Protect Investors in the $1.7 Trillion Cryptocurrency Market

Building crypto confidence with a complete infrastructure

Once we explain how crypto can create opportunity, we still have the hurdle of inspiring confidence, because of the perception that “crypto is run by rogue cowboys in the Wild West,” as O’Leary puts it.

Understanding the technology inspires confidence, which is why WonderFi places such a heavy emphasis on education. It makes O’Leary’s involvement a natural one — he’s long been a vocal advocate for financial literacy.

O’Leary is confident that, as talks continue to progress on Capitol Hill, soon trillions more dollars from around the world will come into play in the crypto market. Regulation in the U.S. is the signal that the global finance world is waiting for.

O’Leary continues to advocate for choice and compliance while ensuring that he and the WonderFi team are building and investing in technology that invokes confidence in its users and supports the innovation in fintech.

Related: Kevin O’Leary Explains Why Institutional Capital Must Have a Role in Sustainability

[ad_2]

Source link

Previous Post

ICC Bangladesh endorses government’s recommendations to avoid hard loans and discourage luxury goods import

Next Post

Alex Murdaugh, former banker, Palmetto State Bank facing new lawsuit

Next Post
Alex Murdaugh, former banker, Palmetto State Bank facing new lawsuit

Alex Murdaugh, former banker, Palmetto State Bank facing new lawsuit

Popular Posts

Ajanta Pharma : Newspaper Advertisements
Life insuranace

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

by Matthew Upton
July 28, 2022
0

Close Provided by: TAIMING ASSURANCE BROKER CO.,LTD. SEQ_NO 4 Date of...

Read more

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

20% interest rate on credit cards! Here’s how to avoid paying those high rates :: WRAL.com

Sens. Murphy, Blumenthal, Colleagues Reintroduce the Behavioral Health Coverage Transparency Act – InsuranceNewsNet

$1 billion in loans still available for agricultural funding in Ohio

How Long Do Car Accidents Stay on Your Record?

Rocket Mortgage Classic Wagers: Pick To Finish Top-10

Load More

Popular Posts

Hingham DPW Workers Deserve Respect, Decent Wages and Affordable Health Insurance

Hingham DPW Workers Deserve Respect, Decent Wages and Affordable Health Insurance

by Matthew Upton
July 5, 2022
0

Propy introduces blockchain title and escrow service

Propy introduces blockchain title and escrow service

by Matthew Upton
May 26, 2022
0

Biden administration sued after fertility awareness methods cut from health coverage

by Matthew Upton
June 15, 2022
0

Ajanta Pharma : Newspaper Advertisements

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

July 28, 2022

20% interest rate on credit cards! Here’s how to avoid paying those high rates :: WRAL.com

July 28, 2022
Edelweiss General Insurance launches India’s first on-demand, mobile telematics-based comprehensive motor insurance – SWITCH

Sens. Murphy, Blumenthal, Colleagues Reintroduce the Behavioral Health Coverage Transparency Act – InsuranceNewsNet

July 28, 2022

Categories

  • Assets
  • Banking Laws
  • Finance Laws
  • Health Insurance
  • Home Insurance
  • Interest Rate
  • Life insuranace
  • Loans
  • Mortgages

Tags

home loans mortgage personal loan
  • Privacy Policy
  • contact us

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • About Us
  • contact us
  • Home
  • Home 2
  • Home 3
  • Privacy Policy

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.