The Crypto Revolution Will Not Be Public

The Crypto Revolution Will Not Be Public

A revolution is pending in finance, and the world is only beginning to realize the transformations it is likely to bring. Financial institutions will have to take a radically different approach to information technology just to stay in business.

Bullish Global, a crypto firm, is planning to go public this year, with an expected valuation of $9 billion. Circle Internet Financial Inc., the company behind stablecoin, is also planning to be publicly listed, as is cryptocurrency platform Bakkt Holdings. Financial markets are difficult to predict, but at this point, 12 years after the inauguration of Bitcoin, it is hard to argue that this is all a bubble.

To understand why, ask yourself a simple question. Why shouldn't finance and payments be as easy as sending an email? Anyone who grew up on computer games and texting probably thinks that running a financial system should be equally frictionless and cheap, especially if there were a mature central bank digital currency. There's no reason money couldn't be transferred by a simple act of communication.

Due to the large amount of money at stake, there would need to be higher levels of security than with email. But some mix of bioscans, multi-factor authorization and hardware security