The Next Wave of Regulation, Adoption, and the Intersection of Private Cryptos and CBDCs ( w/ Kyle Bass & Peter Smith )

Real Vision: Finance & Investing

Real Vision

Business, Investing, News, Business News

4.1 • 1.1K Ratings

🗓️ 15 May 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

The. Interview: It’s no secret that crypto has gone from a retail phenomenon to something increasingly embraced by institutions and professional investors. As well, the size of the market has gotten to a point that governments in the West and the East can no longer ignore it. In this interview with Kyle Bass, founder and CIO of Hayman Capital, Peter Smith, CEO and co-founder of Blockchain.com, discusses how governments in the West and East will approach regulation of crypto markets and how the world of private cryptos and central bank digital currencies (CBDCs) will interact rather than compete. They also discuss how Smith has built his firm accordingly and why he looks at Blockchain as more like the JP Morgan of crypto than something entirely retail-focused like TD Ameritrade. Finally, they touch on Smith's personal asset allocation, his predictions for crypto markets over the next year, and his own questions on Bass' outlook for inflation in 2021. Recorded on March 10, 2021. Key Learnings: Private cryptos and CBDCs will interact rather than compete—but that does not mean all cryptos will survive. Crypto is increasingly competing with traditional finance in areas of "high finance," and the next wave of adoption will take place here. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:45.0	Good day real vision audience. We have an incredible guest here with us today,
0:51.0	both a friend of mine as well as a company that I'm invested in.
0:55.0	I'm sure a lot of you that are following the crypto world are going to really enjoy hearing from one of the original gangsters of crypto,
1:06.0	Peter Smith, the person that is the founder and CEO of blockchain is here with us. Welcome, Peter.
1:12.0	Hey, how are you doing Kyle?
1:14.0	Good doing great. Peter is in New York at the moment. I'm in Dallas and we're here to kind of unpack what's been going on in the marketplace.
1:25.0	How Peter's company has specifically bought that blockchain is going as navigating the explosion in the world of crypto,
1:34.0	as well as more philosophical questions that I can't wait to dig into with Peter as far as how private crypto is going to,
1:42.0	he thinks it's going to interact with public central bank digital currencies and sovereign instruments.
1:49.0	So Peter, if you don't mind, let's kind of kick it off and talk about real quickly just the last two or three years and how you've seen it evolve with your business,
1:59.0	specifically blockchain's wallets, blockchain's business and how blockchain is as looked at the crypto world and how it's
2:08.0	harnessed it so beautifully, so far. But talk about just a year ago, I know where you and your business were and where it is today are
2:17.0	literally night and day different from the perspective of free cash flow revenues. It's money is just pouring in.
2:25.0	How are you guys handling this meteor growth and how do you see the private crypto markets today?
2:31.0	I think so I think the biggest difference is probably the evolution of the market from being purely retail driven to being retail and institutionally driven.
2:41.0	So if you go back a year ago, I think revenue across the entire crypto space is probably 98% retail or consumer derived.
	...

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