Richard Ells, CEO of Electroneum, discussed the company's WooCommerce plugin for instant crypto payments and its partnership pipeline despite regulatory challenges. Bakkt's Bitcoin futures launch on December 12 with physical delivery could push Bitcoin higher and lift the broader market toward $1 trillion, potentially triggering a late-year bull run for altcoins.
Hey you, welcome back to the channel. And guys, today we'll talk a little bit about the interview we got with Richard Ells. Mick from the All About Tech channel, who's doing an excellent job, went back to interview Mr. Richard Ells. So I want to talk a little bit about that and some of the things he said in that interview, as well as talk about some of the end of the year things that are going on that I think it's going to be quite significant, um, indirectly to Electroneum. So, uh, it was quite an interesting, uh, uh, interview as we got to, to, to, to hear. Um, and some of the, the interesting highlights I found in that interview, uh, had to do with the, um, using the WooCommerce, uh, plugin, um, in order to use instant payment across various websites and various things like that. But also we got to learn about what goes into the accounting portion of implementing cryptocurrencies with real life businesses and various things like that. And of course, this had already come up in one form or another. You know, when we're dealing with our taxes at one time, we were looking at, is this, should we be taxed on cryptocurrency, you know, every time we do a— make a trade and various things like that. So, and then we, you know, contacted the IRS, was contacted here in the United States anyway, and congressional inquiry was getting into it as far as how we should be taxed on our cryptocurrencies exactly. And so it's no, it doesn't surprise me that, you know, obviously this is going to be an issue with businesses amongst these partnerships trying to implement cryptocurrency into their businesses. And so Mr. Richard Dale in that interview explained that to us. And so we can see the complexities that go into this. Of course, this is a very This is the first time, you know, as Mr. Richard Dale said, that they've went quite this far in cryptocurrency going over to real-life businesses, you know, and dealing with the fintech portion of Electroneum. And so, you know, he explained that something I kind of thought about from time to time, but he went into a little bit of detail about it. And so from what we got to see, Richard, Mr. Richard Ells is still pushing forward on this. And there are, he spoke of tons and tons of partnerships that are underway, some hitting some kinks, you know, in relation to their countries and their strict rules against cryptocurrency, some of them being anti-cryptocurrency. But, uh, Mr. Richard Dales was clear that they— these, these are hangups that they can see, uh, a path around and to get, uh, you know, these countries and these, uh, through their regulatory bodies to kind of come over, uh, on our side and, and to see that, uh, Electroneum is a very transparent business. It's not one of these, uh, cryptocurrencies that are anonymous that you don't know who's at the head, and if something goes wrong, you can't anybody to hold responsible. So that's not the case with Electronim. And through that lens, it would seem that Electronim would be able to get more further in this than anybody. So that video has been cut into portions, those interviews. And so we're going to get more from Mick and Mr. Richard Dale's, you know, over the course, I would imagine, over the next few weeks or a few days. But I also wanted to talk about, guys, that, um, you know, when, uh, some of the concerns of the community were the price of Electroneum, uh, some people are hodling and they want the price of Electroneum to go up. And, you know, sometimes people get a bit desperate or they get impatient and they might start selling off their Electroneum and various things like that. But I just wanted to, uh, put this out there, and I did make another video about it earlier dealing with Bakkt, the Bakkt exchange has officially declared a launch of December 12th. And they will start to issue these Bitcoins now. Whereas that's dealing with Bitcoins. I'm not a big holder of Bitcoins. You know, I have a few, but I don't really, I never really got into Bitcoins, you know. You know, as of late, rather, anyway. But what we do know is, as CNBC had been predicting, the cryptocurrency market is valued to be around $1 trillion. And so we could see a big gain before the year is out. A lot of people are estimating, some analysts, some very optimistic people, but we'll see. But the bottom line is, Bakkt's going to be issuing this, this futures contract that's actually taking physical delivery of Bitcoin. So won't be like any of the Bitcoin futures before. They're going to be holding this Bitcoin. I mean, taking them off the market, which technically should make the price of Bitcoin go up. And my, my hope and my prediction is that this will be the catalyst for the late— our bull run. And of course, if we can hit around a $1 trillion capitalization market cap, the other altcoins, I believe, are going to come up tremendously. And obviously, I think Electroneum is going to be one of them. So if you've been impatient with your Electroneum, if you're waiting for that big spike to happen, that big price incline, If it's going to happen, I'm believing it's going to happen in the midst of everything going on with Bakkt and whatever else is going on in the market around December 12th. So that's how I'm kind of feeling about this. So I think it's going to be a good position with Electroneum either way. So don't be impatient with your Electroneum. Continue to HODL, HODL, HODL. And I think we'll come through this fairly happy campers. So that's what I'm going to do. Guys, let me know what you all going to do. If you If you like content like this, don't forget to like, subscribe, and until next time, take care.
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