Marcus Swanepoel, co-founder of the bitcoin company Luno, spoke about Bitcoin and other cryptocurrencies and how they could serve as a catalyst for a new financial order that would eventually override existing systems. In an interview with Express.co.uk, Marcus said:
”I do not know if it will be Bitcoin or Ethereum, or if it will happen in a hundred or a year … But the future of the currency will imply a type of global currency that is completely interoperable. “
Marcus said he was not against the banking or government sector, but that the banking system was created in a “non-digital era.” He went on to say that the existing financial system was not defective, but that in the “world we live in today” it was quite inefficient.
According to him, crypto-fortune could become a useful element in people’s daily lives, where their daily transactions could be greatly facilitated. He added that individuals are currently interested in speculation and investment in Bitcoin, which has meant that their price has become an important factor of general acceptance.
Marcus also said that his company was working “pragmatically”, recognizing the importance of working with financial institutions and seeking regulation. He explained:
“We are one of the most pragmatic players in the industry because we have built the business conservatively and we have been working with regulators since the beginning of our business.”
According to the message, Nicky Morgan, a member of the British Parliament, warned people that cryptocurrencies operated in the “Wild West” sector and required immediate regulation.
He added that the cryptocurrency market is subjected to vulnerabilities such as piracy, money laundering and price fluctuations. Therefore, the Treasury Board recommended the introduction of a regulatory framework. Ms. Morgan explained:
“It is not viable for the government and regulators to exploit, send weak signals to potential investors, but do not act.”
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