Blockchain technology is receiving a lot of accolades not just from bankers; finance experts but governments as well as recently the Haiti government announced that it was going to use the tech for land records. The latest addition in the name of the people who think blockchain technology has great potential is Blythe Masters, the CEO of Digital Assets Holdings.
Masters gave her views on Bitcoin at American Banker’s Digital Currencies + the Blockchain conference in Manhattan where she was quite optimistic about the technology behind the digital currency. She admitted that blockchain has potential to address the requirements from financial world quite successfully.
She is of the view that markets for these types of technologies are gigantic and provides huge prospects as well. Nonetheless, according to her every single kind of financial asset whether stocks, bonds or derivatives, these all could be handled the same way as Bitcoin handles transactions with the blockchain technology.
Elaborating various features in blockchain technology, Masters admitted to the audience that there are several features that can help the financial world. Talking at the event she said:
“I believe that [blockchain] technology has the potential to truly change the way the financial world operates, to reduce costs, reduce efficiency, reduce risks and ultimately provide better customer service, which ultimately is what financially services needs to be all about.
Coming from someone who has around three decade’s work experience at JPMorgan, running global credit and later global commodities, the views are indeed valuable. She is now the chief executive of blockchain technology company Digital Asset Holdings which is trying to emerge a leader in the digital currency ecosystem.
Blockchain Technology is comparable with Internet’s Early Days
Interestingly, she is not the only family member involved in Bitcoin industry as even her ex-husband Daniel Masters got license for a launch of the Global Advisors Bitcoin Investment Fund. Though her views are encouraging for everyone involved in Bitcoin technology and blockchain, she also believes that it is too early to conclude any understanding of the technology.
Masters compared blockchain technology to the development of Internet in the beginning of 90s where according to her in reality the world is not there yet. She concluded that the industry will have to address regulatory hurdles as it confronts issues like authentication and security in coming years.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org