Jonathan Bates is the Chairman and CEO of HybridBlock, a revolutionary cryptocurrency exchange and trading platform that provides users the fastest, most reliable tools to benefit their holdings.
Here are parts of his talk at HybridSummit 2017 in Macau, where he discussed cryptocurrency and the future of money:
We are encountering the largest change in commerce and capital-raising in over a generation.
I have come to realize that traditional banking, once dominant as an essential intermediary, is now destined to face a future where its ways are old and unnecessary.
That’s because blockchain technology safeguards and memorializes exchanges of value almost instantly without the requirement of government-issued currencies.
I often ask kids what technology they’re interested in, and why. It’s a way to gauge the future. The younger generation is more concerned about investing in the cryptocurrency market now than they do about stocks. And I think that is important.
Currency Without Politics
Not since the United States left the gold standard in the 1970s has there been a more vital development in the way individuals can transfer value among themselves.
What’s the connection between these events? The United States leaving the gold standard meant that the government was the only thing backing the dollar. It was not constricted by required reserves anymore.
What happened after that was a huge amount of inflation and skepticism. Even though these subsided, mistrust ultimately returned throughout the credit crisis and led to the creation of Bitcoin.
Now people are given an alternative to transfer value to each other without the need for government-funded currency. If fiat currency isn’t backed by anything concrete beside trust, this paves the way for other types of value exchange with better regulations and stronger technological links.
This is a lot more essential in areas of the world where unstable, political regimes and extremely high inflation policies ruin value for citizens who are forced to transact in these currencies.
In Venezuela, for example, there are cases where citizens are trading fractional Bitcoins for goods and services to avoid the need to hold a currency that is rapidly depreciating. A mobile phone is all one needs to carry out transactions.
The Opportunities of Investing in Cryptocurrency
The introduction of the Initial Coin Offering (ICO) will be a game-changer. This is the most important new form of finance that I have ever seen. I say this because companies now have a whole new way to finance their operations besides debt and equity.
With ICOs, they can now approach their current and future potential customers and offer goods and services, without having to go through traditional methods of financing. This will be most effective in advance sales. It provides power to the entrepreneur who uses the pre-sales to fund the business itself.
It also gives customers a new and innovative way to use and trade these claims. This could be integrated with traditional capital-raising initiatives such as private equity to complete a well-balanced and interesting offering.
Crypto Currency Prices
These are some of the things we are working on at HybridBlock, the world’s most innovative trading and education platform for leveraging blockchain technology.
Our mission is to provide a high-quality trading platform while teaching the world how to invest in cryptocurrency. At the same time, we aim to build a community and social network, and help the growth of proprietary commerce opportunities. We want to be the Coinbase of Asia, and more.
Make sure you take the time to learn about cryptocurrency investment strategies and blockchain technology today, because the future of money is here.
Want to learn more about blockchain and cryptocurrency? Check out the video of Jonathan Bates’ full presentation at HybridSummit 2017 here.