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Drew Hinkes @propelforward
, 5 tweets, 2 min read Read on Twitter
1/x Many are concerned about the institutionalization of crypto- that @bAKKT may rehypothecate or fractionalize crypto and issue products that distract from or harm underlying crypto assets, that @Citibank crypto ADRs may put crypto back in the DTCC's hands w/o a blockchain,
2/x and that @GeminiDotCom is offering an approved, audited fiatcoin may harm or detract from open public network attempts to create price stable instruments. This is nonsense. It is entirely predictable and ENCOURAGING to see major institutions experimenting with
3/x various alignments/configurations of various elements of open source, public cryptoasset networks, and mixing them with elements of existing financial markets infrastructure. Not every market actor wants anarchy, not every stockholder wants to put billions into an experiment
4/5 but almost all financial markets actors have learned they cannot ignore this technology. We should be encouraged by the institutional experimentation with and regulatory acceptance of these hybrids. They lay the groundwork for new products/services to come.
And those products & services will innovate based upon the performance of, and shortcomings, if any, of these hybrids. Be patient, and keep working. Radical change will not be stymied because large regulated institutions bravely take some calculated, measured first steps.
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