Regulators, Dapps, and $1 Trillion
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 28 September 2018
⏱️ 6 minutes
🧾️ Download transcript
Summary
BitGo CEO Mike Belshe looks ahead to the the problem of securing a trillion dollar cryptocurrency wallet.
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Decentralized exchange Everbloom is looking to become a certified broker-dealer in the U.S.
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U.S. regulators brought charges against securities swap platform 1broker and its CEO Patrick Brunner for violating federal law.
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Shares in the publicly listed blockchain tech and consultancy firm DigitalX have slumped after it revealed it is facing a legal claim in an Australian court.
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Messaging giant LINE has announced the first five decentralized apps, or dapps, on its custom blockchain platform.
Host Bailey Reutzel has the latest from CoinDesk.
Recorded September 28, 2018 in New York, NY.
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Transcript
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| 0:00.0 | How do you secure a $1 trillion crypto wallet? |
| 0:04.9 | Good evening. I'm Bailey Reitzel, and this is late confirmation from CoinDesk, bringing you the top stories from September 28, 2018. |
| 0:13.3 | On today's show, we'll talk about Everbloom, a decentralized exchange applying for a securities license, two companies dealing with legal action, and finally, the |
| 0:22.2 | first five DAPs announced by messaging giant line. But first a word from our sponsor. |
| 0:28.0 | Master Financial Technology Online with the 10-week Oxford FinTech program, interacting with an |
| 0:34.7 | international cohort of business leaders and over 60 guest experts. |
| 0:39.3 | You'll gain a practical introduction to key financial technologies and their business applications. |
| 0:44.8 | Find out more at Oxfordexecfintech.com. |
| 0:49.4 | Bitco held a whopping $1 billion of customers' crypto holdings in 2017, and currently handles around |
| 0:56.0 | $15 billion in monthly crypto transactions. Now the company is looking to become a qualified |
| 1:01.9 | custodian and thinking of the best solutions to secure its vast holdings. BitGo CEO Mike Belchie |
| 1:08.1 | is already looking ahead to the next milestone, that being securing |
| 1:11.9 | a trillion dollar wallet. |
| 1:13.9 | While the number may seem far-fetched, the possibility of ETFs and hedge funds means |
| 1:18.4 | that a trillion-dollar crypto fortune isn't impossible. |
| 1:22.0 | But securing it presents a unique challenge. |
| 1:24.4 | To build such a security system, one needs a complex blend of hardware and software, |
| 1:28.8 | great policies and procedures, and not to mention meeting externally audited regulatory |
| 1:33.4 | requirements. Competitors in this space for BitGo are the hardware maker ledger, their traditional |
| 1:39.0 | U.S. Custodial Bank Northern Trust, and blockchain startup Itbit. |
| 1:45.4 | Everbloom, a decentralized exchange is looking to become a certified broker dealer in the |
| 1:49.8 | U.S. revealed exclusively to CoinDesk, the startup recently registered with the Securities and Exchange |
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