Crypto is at a point where folks have more choice and can potentially safeguard their assets. In the event of a financial meltdown or government insolvency, using decentralized technology is considered to be safer.

You were very early in this world, especially in the starting of the financial crisis.  how do you think crypto will do during another financial crisis? It is not going to happen tomorrow, but it is going to happen at some point in our life time?

I never hope for a financial crisis, but I hope that crypto is at a point, where folks have more choice by using crypto and can potentially safeguard their assets by using decentralized technology. I am not even concerned which is a financial meltdown, but what happens when governments go insolvent and you have your assets in Argentinian Peso or Venezuelan currency.

I have seen high adoption rates for crypto in those countries, because it provides them financial future in case the government goes insolvent. But the same thing is true in case of another financial meltdown.  If you use decentralized technology, I think it is safer and it is decentralized in the fact that it is not a reliant on one financial institution.

Today, most of the world as we learn from 2008 is reliant on 4 or 5 global money central banks. And, that is a problem. And, we saw the repercussions of that.

What is the problem? Well it is the problem is that folks are dependent on each other. It is like when one goes insolvent, it is like the Dominos – the rest of them go insolvent. And, as a business school student in 2008, I have learnt about how gradual this world was.

And, then when I learned about Bitcoin soon after and like this is the way you build financial technology. We saw the power of the internet, and what it did for democratizing access for information. This is the same thing that is going to happen here in that we are not going to be reliant on those 5 money Center banks in the future. We are going to be reliant on decentralized financial technology and I think that we will all benefit from that.

Does this help bring cost down in the industry? We have seen our own customers benefit from the costs coming down and the reason is that it takes the middle man out of the supply chain.  We saw that with cross-border payments there is fewer middlemen, there is fewer intermediaries, for the transaction to go through. If you reduce the number of middle men in the transaction, the costs go down.

And, I think you will see the same thing, you will move friction out when you are getting a loan. We have week when will be getting a loan like seeing in the early days of DeFi and the costs come down. Access goes up. And, that is a good thing I think for the world.  The world needs more financial access.  The world needs more financial tools for everyday people around the world.