Short street-style interviews recorded at Davos (YouTube video). Participants include Gino Yu (Hong Kong Polytechnic University) and several other interviewees who discuss cryptocurrencies and blockchain. Gino frames cryptocurrencies in terms of consciousness and collective thought—arguing value is rooted in shared mental constructs (examples: Beatles catalog, Statue of Liberty). Other speakers focus on practical issues: regulation (governments will likely impose controls and reporting), volatility and price effects, signs that cryptocurrencies are going mainstream, and broader blockchain use cases (genomics, title insurance, ledgers). A specific regulatory claim references US reporting for cash withdrawals over $10,000.
Questions this video answers
$10,000
Chapters
Have you already invested in some cryptocurrency? No, not yet.
No, I have not.
No. But I have some friends who have.
Invested already in some cryptocurrencies.
Nope, we're building them. Oh, okay.
Could you introduce yourself to our audience, please?
My name is Gino, Gino Yu. I'm from Hong Kong, Hong Kong Polytechnic University. I teach there, and then we're doing projects. I do research in consciousness phenomenology and neurophysiology, and we're exploring cryptocurrencies in relation to consciousness.
And so is it conscient as a technology?
Well, consciousness. Well, it's all things in ideas, whether it's money, God, religion. All of these things are in the realm of thought. And so how do these things in the realm of thought now play out? In how we play, how we engage in space and time?
And so how is the public consciousness changing recently?
The strongest, ultimately, it's about emotional attachment. And arguably the strongest emotional attachment that people have today for most people in the population, is money, right? But arguably the strongest attachment in the early days that you have is to your relationship to who you are, why you're here, and what this is. And so religions are just like the different languages in Davos about communicating inner experience. So if I say, this is a microphone, this is a white jacket, you know what I mean? Because we have a shared experience. But if I say, I love you, what does that mean? How do I understand that? Know that my understanding of love is the same as your understanding of love? So all of this is in the realm of thought, in the mind. So the value of cryptocurrencies, the value of religion, the value of value is in thought. And so what are the relationships between that, the physical body in relation to the development of the individual? So kids growing up, et cetera. So there are certain stages. People kind of get obsessed with money and everything, and that's a stage of development. But then what are the stages beyond all of that?
And do you think that at one moment, bitcoin cryptocurrency will become something as this jacket and with some understandable consciousness of an object?
Well, it all depends on what we decide upon, right? Because its value is only dependent upon, like, why are the Beatles. Why does the. Why are. Why is the Beatles catalog so valuable?
Why?
Because everybody knows what it is, right? I just say, let it be, and everyone knows. But if I take a street musician off of here and play his song, how valuable is that? The only person that knows it is probably him. And the people that walk by every day, Right. And so how all of this is in the realm of the mind. And so the fun thing, you ready for this? Physically, you're here. And physically I'm here. But in this conversation, where is this? So if I point at this. What's this?
Cointelegraph.
Okay, so I'm pointing at this, right? And you know, if I mention now, and so that's in space and time. And you see that now if I mention the statue that France gave to the United States that's sitting outside of New York Harbor. What's that? A statue that France gave to the United States that's sitting outside of New York Harbor.
Yeah.
And so here I'm pointing at something in this mental realm, Right? And so just as I'm pointing at something here, or I'm making you be aware of the beeping that's happening here, when I mention the statue, I'm pointing at something as well. And you saw it as the Statue of Liberty. So this conversation, back to your viewers that are listening to this, where is this? Where are we right now? Where is this space that this conversation is happening?
So I understand that as soon as we go back in time and make Beatles sing us on about cryptocurrency and blockchain, it becomes really valuable. Thank you so much. What should happen in order to this market be less volatile, in your opinion?
Well, I think there's going to be some regulation put on cryptocurrencies. I think that'll be reduce the volatility, but also reduce the price.
But do you think that it will happen soon?
Regulation?
Yes.
Why do you feel so?
Because I think that it's going to be very difficult for governments to allow entities or enterprises to transfer large amounts of money without it being tracked by those governments. So in the US for example, if you take more than $10,000 out of the bank, the you get notified about that or they notify the government about that. If you can transfer a million dollars and no one knows it, I think the governments are not going to allow that to happen.
Do you think that the fact that digital economy is the first subject to be discussed this year in Davos shows that actually cryptocurrencies and blockchain is going mainstream now?
I think absolutely it is. I mean, I think cryptocurrencies will continue to survive. And I think the, you know, the frictionless ability to move funds between people I think is a great idea and it gets rid of the middleman. So I think there's huge advantages to it. I just Think there's going to be some regulatory oversight. Blockchain can be used much more broadly than just cryptocurrencies. I think it could be used in genomics, it can be used in tracking title insurance. And so I think the whole concept of blockchain is an explosive idea, really very, very crucial to the economy going forward.
Could you please tell us what do you think that digital economy is here? This first subject to be discussed. Do you think that blockchain and cryptocurrencies are really going mainstream?
This.
Well, I definitely think they're going mainstream. I know at least one in five people that have purchased various cryptocurrencies and have it. Both my husband and I actually started purchasing cryptocurrencies back in 2013 and I think it's unclear at this time whether cryptocurrencies are here to stay or not. However, I do believe that blockchain will be the future as far as ledgers go and how things are recorded and how properties port purchased and how we hold ownership to various assets.
Digital economy is here the first subject to be discussed. What do you think about cryptocurrencies and blockchain going mainstream?
I think that these offer great opportunity but also raise question that needs to be answered. So IDRC is an organization from Canadian government that provide research support in order to fill those gaps. So in terms of access to health services, blockchain technology can do miracle in terms of, you know, control and establishing agenda for this development. I think it's a conversation where the developing region of the world needs to be part of. And I think here at devos there's a great openness towards having this type of dialogue.
Have you personally invested into some cryptocurrencies?
That's a personal question. I don't answer personal questions.
