Gemini, a New-York based cryptocurrency exchange is quite famous to promote the regulations for crypto across the street of Newyork as a means of promoting the crypto adoption and Gemini’s exchange. The twin founder of the Gemini exchange recently marked their presence at SXSW conference and discussed why they think Bitcoin will replace Gold and how will they build trust and longevity among the masses.
Interest is at tipping out
Despite the market running on the way out, Gemini’s Twin brothers are betting high on the future of Bitcoin. During an ongoing South by Southwest (SXSW) conference in Austin, Texas, founders of the famous exchange, Gemini publicized that the interest of younger generations is gravitating towards the cryptocurrency market. As such, they see Bitcoin’s potential will kill Gold.
Cameron Winklevoss took the stage and discussed;
“The only thing that’s truly precious, in my mind, is bitcoin. If you tell that to someone who’s my parents’ age, they’ll probably look at me and tell me I’m crazy, and I’m willing to accept that. But you talk to someone who’s playing Fortnite and say, okay, two options, bar of gold or the equivalent in bitcoin, they are 10 times out of 10, 100 times out of 100, going to take the bitcoin. They want software, they don’t want hardware.”
Gemini since 2016 (the first SXSW event held) has outgrown their staff from 25 to 200, explaining their experience of the event, Gemini exchange noted in their latest medium blog – the interest in cryptocurrency is at tipping out. The blog’s most interesting section reads that the crypto in 2016 was niche, today it is something – and tomorrow it will be everything.
Look no further than the packed house we saw from the stage — the energy and excitement around crypto’s future were palpable — money has a future. Perhaps more importantly, the level of engagement and thoughtful questions posed by the audience on topics such as stablecoins, mining, financial disruption, scalability, and others, demonstrates that cryptocurrency is in fact no longer a fringe technology.
Gemini Exchange to Build the Trust Gap
Speaking about the trust and regulated scenarios for a trading business like Gemini exchange, the blog mentioned an instance of Bitcoin. It says, buying Bitcoin in the year 2012 was quite risky because security was the essence and consequently holding such crypto asset safely is harder. With this, Gemini exchange is stepping towards solving the security issue and they believe the issue can be ‘solvable’ and it’s not intractable. Adding that, Gemini trading platform is continuously striving to build trust among the large crypto communities.
“One of our core values is conviction & the other is the long game. We have conviction in the asset class & are playing the long game, building a centurion that will last 100 years. We are not going for unicorn status, we are trying to build trust and longevity.” #sxsw #crypto pic.twitter.com/WBogFAESe7
— Gemini (@Gemini) March 9, 2019
Gemini exchange’s promotional strategy is different than what other exchanges follow – they often go to the street, educating people about their product, trading method and sometimes running an Ad campaign with bulletins of ‘Crypto Needs Rules’ on the Wall Street Journal (WSJ). They confidently claim regulations in crypto will be a better move – as such, they focusing on ‘regulated markets thrive.
The healthiest markets in the world are also the most thoughtfully regulated. It’s hard to point to a market today that’s thriving that isn’t rules-based or governed by some level of regulatory oversight. The blog adds Some argue that the protocols themselves have enough “rules.” We agree, but protocols only govern the movement of funds inside systems; they don’t provide controls or oversight for the entrepreneurs and companies that build on top of them. Every crypto incident to date has been a company (or human) problem, not a crypto problem.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com