In this week’s episode of Principled Discord, our host Thierry Arys Ruiz, is interviewing Anton Golub, CEO & co-founder of Flovtec; which provides marker-making solutions to digital asset exchanges and tokens & believes liquidity is the missing piece in the digital asset ecosystem puzzle. Mr. Golub discusses the role of regulations, liquidity providers and how they interact with digital asset ecosystems.
Immature industries such as the digital asset ecosystem do not have proper measures in place to disincentive bad actors that will inevitably attempt to take advantage. Mr. Golub recognizes the severity of issues such as these while seeing great opportunities in the space. “In the digital asset world, you have this malpractices that are not healthy for the development of a digital asset ecosystem but it is present because it is so immature.” All over the world these digital assets are accessible with little oversight, which incentives malpractice.
Source: Traders Magazine, Bitwise
With more financial institutions wanting to integrate digital assets or tokens into their treasuries, it has prompted questions from some institutes calling for the Office of the Comptroller of the Currency to issue a statement of clarification last July. This permits banks to hold cryptographic keys and other crypto-related assets for customers. Diversifying options for the consumer through an established network of regulated channels ensures more security and disincentives, bad actors, from attempting to game the system or misuse for illicit activities.
Source: Geeky News, 2021
Potentially self-regulation as Thierry Arys Ruiz postulates will be the way moving forward. However, it is likely that it will have to fall within regulation by government entities, as some have already begun to make moves to ensure standards are put in place.
This has its own host of issues as Mr. Golub sees it, “I think the biggest challenge will be, once you understand that digital assets are accessible globally how does the regulation in Switzerland align with the regulation in Singapore and align with the regulation in China.” No matter the solution moving forward one thing is certain to
Mr. Golub, “blockchain will really completely reshape the financial world as we know it, there are going to be a lot of winners there.”
Follow the link to watch the full episode of Principled Discord Podcast with Anton Golub hosted by Thierry Arys Ruiz, and learn from two industry leaders about upcoming changes in world’s financial system. Don’t forget to subscribe to Principled Discord’s YouTube channel to watch more episodes.