Co-founder and Executive Director of the Bitcoin Foundation Jon Matonis I am sure that the fears associated with the “bubble” of cryptocurrencies, unfounded. On the contrary, it is just the stock markets are artificially “inflated” by Central banks, he said in an interview with Business Insider.
“People who claim that bitcoin is a bubble, I’d say that bitcoin really is a needle that will pierce the bubble. Bubble is a crazy stock markets and securities that support the Central banks. This is bubbles”, said Matonis.
He is confident that the economy departs from “legal currency managed banks,” decentralized asset like bitcoin to support this shift.
To the Bitcoin Foundation, Matonis was a trader at Japanese Bank Sumitomo and Visa. Non-profit organization was founded to support the core developers of the bitcoin Protocol. Matonis served on the Board of the Foundation from 2012 to 2014 and to this day holds the post of Executive Director.
Despite scepticism about the current financial system, he believes: “It’s great that big banks like Goldman Sachs are showing increasing interest in the world of cryptocurrencies”.
“I think it’s great that they come on the market because it will increase liquidity. Companies will help to make the market more Mature and reduce volatility. They will create the markets of futures and options”, — said Matonis.
According to him, regulators around the world are trying to find a “common language” with cryptocurrencies, and in the UK recently announced the establishment of a working group.
“Regulators are very confused — not only in Europe but also in North America. They are accustomed to models of fundraising, based on the sale of debt or securities. [Cryptocurrency] is the third model to raise funds. They release a utilitarian tokens that are not securities, are not ious. In reality, they are a statement about the success of the token, directly linked, ideally, with the success of the company. This is a brand new model and it does not fit into the existing regulatory framework” — said Matonis.
We will remind, in may of last year, the Executive Director of the Bitcoin Foundation Jon Matonis joined blockchain company nChain.