On this week’s episode of WealthTech Unwrapped, Ned speaks with Jeff Jeff Ye Myat Min and Sherry Jiang of Bluejay Finance. Tune in as they discuss Stablecoins, Defi Blockchain, and what it takes to be a cryptocurrency start-up.
When it comes to cryptocurrencies, Jeff and Sherry believe that currencies like Stablecoin have the potential to be stable if they follow proper accounting principles and rebalancing. However, it is sometimes hard to understand what the end goal of cryptocurrency is and this in turn makes it difficult to create proper regulations around them.
Unfortunately, centralized players within crypto have been doing unsavory things which further highlights the need for regulation, however, due to such behaviors, the innovative aspects and potential behind Crypto have also been lost. This could also be due to the United States’ view of cryptocurrencies as there isn’t a promise of economic opportunity and it doesn’t solve underbanked challenges, unlike in Asia where cryptocurrencies are more enticing