Latest Global Business News

Interview with Bitcoin.com CEO Roger Ver

 
The debate continues on virtual currencies. The potential for it to accelerate technological innovation through peer-to-peer payment systems... is undeniable.
 
To get a glimpse of the possible future of cryptocurrencies, past the slew of challenges, our Kim Hyesung sat down with the CEO and founder of Bitcoin-dot-com.
 
CEO of Bitcoin.com, Roger Ver, was one of the earliest investors in bitcoin and related startups, even earning himself the nickname "Bitcoin Jesus" as a vocal advocate of the world's number one digital currency.
 
  "Thanks to the internet, anybody in the world could communicate with anyone else, anywhere in the world. Now, thanks to the invention of Bitcoin and cryptocurrencies in general, now anyone, anywhere in the world can transact financially with anyone else anywhere in the world.  They don't need permission from a bank or a company or a government to do so. So it's a very interesting time to be  involved in this."
The price of Bitcoin exploded last year,... flying well past ten-thousand U.S. dollars.
 
But prices fell sharply early this year, ushering in a bear season that saw Bitcoin post its worst ever first-quarter performance.
 
  Q. Some critics say Bitcoin will collapse or is a bubble ready to burst? What's your take on that?
 
  I think it's just a temporary market correction. It's hard to be disappointed by the price here, considering it's up several times from what it was last year at this time.  You should look at cryptocurrency as the most useful in commerce. Those are the ones that will perform the best over time in terms of price appreciation against the dollar or the won.
 
It's not just price volatility, there are also concerns over a lack of safeguards as well as the hacking of cryptocurrency exchanges and digital wallets.
 
  Q. Some argue that for virtual currency to be traded safely and go mainstream, there need to be some kind of regulations. What kind of regulatory measures should be taken, if any?
 
   I'll give the practical answer, which is that businessmen need to know what the rules of the game are going to be   so they can run their businesses accordingly, and grow their businesses and expand to help customers around the world. In as far as consumer protection, that's the business's job.  
I think I'm really really skeptical that politicians are going to know better  how to keep cryptocurrency safe than businessmen and users who are actually using the cryptocurrencies."
 
Cryptocurrencies are transacted peer-to-peer through a decentralized system backed by blockchain technology.
 But while it's used in the real world by millions of law-abiding citizens, there are mounting concerns over its potential misuse for illegal activities, like money laundering or funding terrorism.
 
interview with bitcoin ceo
 
 Governments have started to weigh in...debating Bitcoin's legal status, how to run exchanges, initial coin offerings, the issue of taxation and so on....and it even became one of the key themes at this year's G20 summit.
 
  In uncharted waters, the cryptocurrency community is also discussing the industry's direction.
At the Deconomy 2018 forum in Seoul, companies like Bitcoin.com, Ethereum, and others insisted that while other things remain unclear right now, technological advances in software, mining and multi-signature wallets are needed to enhance security and cost-effectiveness.
 
  "There is a long, long ways to go when it comes to cryptocurrency. It's still a little bit difficult, a little bit hard, there's a lot to learn, so there's huge amount of room for improvement."
 

Add comment

Emails are optional and for tracking replies. Names are unique; get yours today with a comment!


Security code
Refresh

La Business

China demands release of Huawei CFO Meng Wanzhou
China demands release of Huawei CFO Meng Wanzhou

  China is demanding the release of Huawei's chief financial officer who has been  [ ... ]

Read more la
Mobile bank Monzo raises £18 mil in three hours
Mobile bank Monzo raises £18 mil in three hours

  Mobile-only bank Monzo has hit its crowdfunding target after raising £18 mill [ ... ]

Read more la
French Queen Marie Antoinette pearl sold for record price at auction
French Queen Marie Antoinette pearl sold for record price at auction

  A pearl once belonging to 18th Century French Queen Marie Antoinette has sold for  [ ... ]

Read more la
Chinese shoppers spend 31bil on Singles' Day
Chinese shoppers spend 31bil on Singles' Day

  We all love a good bargain, but nothing simply comes close to the massive purcha [ ... ]

Read more la
Google employees go on strike
Google employees go on strike

  In New York,... more than three thousand Google employees protested in a city  [ ... ]

Read more la
World falling into recession 2018?
World falling into recession 2018?

  "Uncertainty" is a word we've been hearing more and more on the news these days. [ ... ]

Read more la
Stocks on Wall Street suffer worst day in eight months on Wednesday
Stocks on Wall Street suffer worst day in eight months on Wednesday

  Carnage on the markets.
U.S. stocks posted their worst single-day drop in mont [ ... ]

Read more la
US Federal Reserve raises interest rates by 0.25%
US Federal Reserve raises interest rates by 0.25%

  In a highly-anticipated move,... the U.S. Federal Reserve has hiked interest [ ... ]

Read more la
Will China tax iPhone 25%? Trump to place new tariffs on USD200 bil of Chinese goods...
Will China tax iPhone 25%? Trump to place new tariffs on USD200 bil of Chinese goods...

  Despite his Treasury Secretary's attempts to revive trade talks with China,  [ ... ]

Read more la
Alibaba's founder Jack Ma to step down next September; leaves with cool hairstyle
Alibaba's founder Jack Ma to step down next September; leaves with cool hairstyle

  The founder of Alibaba announced he will step down from his post, next Sep [ ... ]

Read more la
Trump ready to slap tariffs on US$200 billion of China imports: report
Trump ready to slap tariffs on US$200 billion of China imports: report

  U.S. President Donald Trump is reportedly ready to impose tariffs on 200 billi [ ... ]

Read more la
Coca-Cola to buy Costa Coffee for £3.9 billion
Coca-Cola to buy Costa Coffee for £3.9 billion

  Whitbread has struck a deal to sell the Costa Coffee chain to Coca-Cola for £ [ ... ]

Read more la
Argentina raises interest rates to 60% as peso continues to drop
Argentina raises interest rates to 60% as peso continues to drop

  Argentina's central bank has raised interest rates to 60 percent - up from 45 -  [ ... ]

Read more la
Turkish Lira Collapses
Turkish Lira Collapses

  Amid widespread worries following the sudden capitualtion of the Turkish l [ ... ]

Read more la
Apple becomes first trillion-dollar U.S. company
Apple becomes first trillion-dollar U.S. company

  Apple has become the world's first company worth a trillion dollars. The iP [ ... ]

Read more la
ECB leaves rates on hold and confirms bond tapering plan
ECB leaves rates on hold and confirms bond tapering plan

  The European Central Bank left rates unchanged on Thursday and confirmed pla [ ... ]

Read more la

Our Sponsors


La Latest

South Korea launches 5G; first in the world

  Just about a week ago, South Korea's three major mobile carriers launc [ ... ]

Read more la
France boosts security for new 'yellow vest' protests despite fuel tax reversal

  The political crisis engulfing French President Emmanuel Macron is showi [ ... ]

Read more la
Tiny polar bear cub acts cute

  Berlin Zoo released this adorable footage of a new-born polar bear cub snu [ ... ]

Read more la
Teenagers killed in nightclub stampede

  A stampede in an Italian nightclub killed six people in the early hours of Sat [ ... ]

Read more la
China demands release of Huawei CFO Meng Wanzhou

  China is demanding the release of Huawei's chief financial officer who has been  [ ... ]

Read more la
Match-pointer! Ball-dogs let loose on tennis court

  For the first time in UK tennis history, ball-dogs are stepping onto the c [ ... ]

Read more la
Google launches public self-driving taxi in Arizona

  Google's self-driving car business, Waymo, has launched its robotaxi service i [ ... ]

Read more la
Mobile bank Monzo raises £18 mil in three hours

  Mobile-only bank Monzo has hit its crowdfunding target after raising £18 mill [ ... ]

Read more la

La Entertain

The Clooneys host dinner for Prince Harry and Meghan

  George and Amal Clooney are preparing to host the Duke and Duchess of Sussex for [ ... ]

Read more la
Justin Bieber to settle lawsuit filed by ex-neighbours

  Pop star Justin Bieber has agreed to settle a long-standing lawsuit filed by an  [ ... ]

Read more la
BTS' first feature film "Burn the Stage: The Movie" hits cinemas worldwide

  Thrilling news for BTS fans. The first official movie of the K-pop sensations fi [ ... ]

Read more la
Jennifer Lopez wants your sexy vote for US midterm elections

  Oprah, Alicia Keys and Jennifer Lopez are just some of the celebrities to urge [ ... ]

Read more la
Spice Girls Reunite For 2019 UK Tour without Posh

  After teasing fans with a reunion for years, the Spice Girls are finally r [ ... ]

Read more la
Busan International Film Festival 2018

  The Busan International Film Festival is back for its 23rd edition in Korea' [ ... ]

Read more la
Fan Bingbing appears on planet earth again

  After vanishing for months,.... China's top actress Fan Bingbing has resurface [ ... ]

Read more la
BTS becomes first K-pop group to speak at UN General Assembly

  President Moon is not the only one representing South Korea at the UN Gene [ ... ]

Read more la