Yonathan Parienti says cryptocurrencies are hitting mainstream with people checking prices on their phones daily. The crypto market sits at 300 to 400 billion dollars, and he's launching an OU Token focused on social and economic inclusion. He argues we need to let disruptive innovation grow while pushing for self-regulation.
Questions this video answers
February 7, 2018.
"300 to $400 billion" market.
A presale of "OU Token" to launch over the next few weeks (described as the first cryptocurrency for social and economic inclusion).
Chapters
Here in Davos, we see that digital economy is the first subject out of eight to be discussed. Do you think that it's really going mainstream now?
Well, when we look at people, you know, in the street that start, you know, like to look at their mobile to check, you know, like the bitcoin price, I think like indeed the digital economy. And as well the crypto world is showing that this is entering, you know, like the Main street as well. When we look at traditional media and most of their headlines is about the ups and downs of Ethereum, Ripple and btc, well, it shows as well that something is changing. So, yes, I think we are at the beginning of a new era. And now the question is how this moment, these innovations is going to serve populations and humanity as a whole.
I think that it's not your first time in Davos. Do you think that this year it's different because of so many, what we are now here in front of crypto headquarter?
Well, I think what is interesting is innovation is not related to one place. Innovation is about, you know, people's art, people's vision, and what is certain is something is moving. And when we see, you know, like people like myself, you know, from a banking industry moving around on becoming a social entrepreneur, and we see so many examples like that of people really that at some point reach a point of consciousness and say, I want to do something good, I want to do something which is meaningful. So, yes, I think we are going to see a spread of innovation here in Davos, but as well in all parts of the world.
What do you think about regulations and being also a person from the banking sector, what is for you more important?
Well, I think, you know, when there is a disruptive innovation at first we need to let it grow in a way which is not too controlled because what we want is, we want to grasp the positive impact it can bring. But at the same time, we have, you know, like on the crypto community, be able, you know, to self regulate ourselves to make sure that this is going to follow a sales path, something which is going to be fiduciary responsibility with the people that entrust their funds, their investments and become members of the community. So I think we cannot prevent regulation to look at that, because that market right now represents a 300 to $400 billion market. So this is indeed now visible in the radar and probably this is going to continue to increase. But what we have to do is we have to set examples, set good practices, make sure that speculation is not overwhelming the good willing associated with the crypto. And that's how like myself for instance with my group, we're going to launch over the next few weeks pre sale of OU Token which is going to be the first cryptocurrency for social and economic inclusion.
I like to see this energy in your eyes because, well, you really like this and I see that you see the potential and perspective and promise technologies in blockchain. As not a stranger to JP Morgan, I can't not ask you about the opinions of Mr. Dimon being said and that have influenced so much the crypto market. Could you please comment on this because do you think that he understands what is bitcoin really?
Well, you know, I think right now as we speak, most of the people don't really understand what is really, you know, like the potential and the vision associated to it. So even people that can pretend themselves as pundits into the blockchain, we are just at the beginning of the understanding of the possibilities. So that's, that's one of the aspects. The second aspect is we are in a world of sensationalism. So sometimes one sentence, you know, like put out of the context, you know, is leverage and make, you know, like a very strong statement. Well, at some point it's just like maybe something like if you don't like classical music, you might just say, well I don't know what it is about. I might show a more curious aspect. Now what I would say is we have to be open minded. When we make a tag on condemning without understanding fully the full potential of something which is related to innovation. I think we are making a shortcut. And I think that now this new world and new market and new innovations really can prove in so many ways that they are bringing something positive for humanity as a world. So my responsibility as an entrepreneur is to make sure that we can strive to support that Blockchain is bringing something positive for the people. And if we can prove that Jamie Dimon and all the other CEOs of the banking industry of that all new world will probably better understand that actually they can even benefit from it. And that is good even for their banking industry.
Thank you so much. Thank you. It's really a pleasure to talk to you.
