In a group discussion, Katsu Kanno, CEO of Quoine, reported; Linda Wang, co-founder of Lending Block, and Andrew Robinson, head of institutional coverage, explained why the institutionalization of Bitcoin did not mean the end of Satoshi’s vision.
Katsu Kanno observed for the first time that the “beauty” of the cryptocurrency is the concept that emphasizes it, that is, decentralization. He added that Satoshi Nakamoto had created Bitcoin, which was based on fundamental principles, and expected to be integrated into the financial currency.
Kanno also pointed out that the institutionalization of Bitcoin is important because it increases the liquidity of the market, which is an important aspect of the financial sector. He added that this would help stabilize the cryptocurrency market.
The co-founder of Lending Block said the vision was about to change. I have added that it was impossible to go back to why Satoshi wrote the white document 10 years ago. He added:
“So you know that they had their problems at the time. He wanted to create something that was peer-to-peer and trestles and takes the dependency out out of the intermediaries, that was the dream to Satoshi’s vision. But what has since happened is that, what was meant to be fast, easy to access cryptocurrency, that was Bitcoin is not as easy to access cryptocurrency.”
Wang added that institutions are currently trying to solve the problems facing Bitcoin and other cryptocurrencies that are supposed to be peer-to-peer and difficult to access due to their technical aspects.
Andrew Robinson also supported the discussion. I have explained that Coinbase, the largest cryptocurrency trading platform in the United States, is waiting for most of the activity of the institutions. He added:
“We need to try to bring our products to our customers and our clients. At Coinbase, at least, you know we’re a crypto first company, also what else can we do as an institutional business but what that means is that it is our duty and responsibity to find the best technology and solutions out there to help foster and develop them and bring them to the hands of as many people as we can.”
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