JPMorgan’s Ex-Head: Cryptocurrencies Make Way for Financial Revolution
April 24, 2018
Daniel Masters who used to be at the lead of global trading platform JPMorgan has declared, cryptocurrencies foster financial revolution.
Now Masters holds office of chair at digital investment bank Coinshares and chief investment officer in Global Advisors. In his recent interview he clarified, the technology of distributed ledger contributes to democratization of p2p transactions just as much as Internet did to democratization of news.
“That’s at the core of what makes this a revolution”, Masters noted.
Masters described the “regulatory sandbox” environment digital assets have been in for the last five years or so. He said, the environment of 1 to 10 billion dollars “is almost experimental in the scope of the main financial system”.
As the market approached $1 billion it “suddenly became something regulators, banks … central banks and governments decided could no longer be ignored”.