Crypto

Important explanation about Bitcoin from CFTC Commission member


A member of the CFTC Commission praised the Bitcoin and the crypto currency and the Blockchain technology. Christopher Giancarlo, a member of the CFTC Commission, believes that the current period of innovation makes it difficult to approve such proposals as Bakkt.

Although the US Commodity Futures Trading Commission (CFTC) halted Bakkt's approval, commissioner Christopher Giancarlo continues to rise considerably in terms of crypto currencies and Blockchain technology and [exponentialCallsitortechnologies”Thepro-cryptoGiancarlobelievesthatthereasonwhyBakktstoppedwasbecausewewereinanewphaseofinnovationwiththreedistinctfeaturesThisdifferencerequiresa”newdifferentiatedregulatoryresponseBuThethreefeaturesdetailedbyGiancarloareasfollows:

The first is that we live in a period of exponential technological change. That is, the full speed of innovation is growing exponentially, both in terms of the production of new models and products, and then acceptance in the public. The second feature is the breaking of traditional actors or business models that can challenge regulatory agencies and existing regulatory frameworks. The third is that the speed and nature of technology-based innovation requires high technological literacy between business and government leaders.


believes in the crypto currency

Giancarlo believes in the crypto currency and 2008
a person who can prevent a financial collapse and a continuation of a statement.
He says:

I want to focus on assessing the current state of Blockchain technology and how it can affect and improve our markets. To get started, I'd like to take you back to September 2008 for a moment. This was a dangerous time in the global financial markets. A very large US housing bubble burst, triggering a gradual global credit crisis. He was troubled by the concern for the investment and commercial bank failure. However, imagine what kind of difference a regulator would make a decade ago on the eve of the financial crisis if the regulators could access real-time trading books from large Wall Street banks instead of trying to collect piece data to recreate their complex, individual trading portfolios.

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