Wally F

All the countries that have tried to use this printing press like Zimbabwe, Venezuela, Argentina, Germany have failed. I imagine Japan also collapses soon. Japan's government debt to GDP ratio sits at around 240% which is just crazy. I just saw the new figures from the Bank of Japan ETF; they print like crazy, and they own around 50 % of the domestic index funds, National Treasuries. I believe it is 5.5 trillion USD that they have on their insane balance sheet. This is by all means not only Japan, but Germany and other countries like this that are in a similar situation, and with America having more than 13 trillion USD in debt is impossible to pay back. They will never pay it back.

ConsenSys was found in 2014 by Joseph Lubin only a few months after the foundation of Ethereum. Today, it is the world’s largest blockchain technology company for enterprises and governments. While Ethereum is managed by the Ethereum foundation, Joseph Lubin who is one of the co-founders of Ethereum, started ConsenSys with the mission to build the tools and develop the ecosystem of Ethereum. The Ethereum protocol was managed by the foundation, and there was a for-profit-organization ConsenSys which was managing, creating, building the infrastructure and the tools that would help them build the ecosystem.Today we are a little around 700+ people of experts, entrepreneurs, computer scientists, designers etc. We are represented in many different places around the world such as the US to Asia, Europe to Africa and Australia. We started off as a venture production studio, meaning investing in a lot of new businesses where we saw huge potentials. We were helping to develop these businesses to a certain point in their development. At that point, we start using our connections from the infrastructure we have build to support use-cases in larger enterprises and governments. We provide capital to companies that are in need of that, especially infrastructure solutions, which most of them are making the base of most widely used enterprise blockchain solutions today.

In the next century, we could move to Mars and colonize it, and I wonder what form of currency we would be using. Mars is an entirely new entity, and separate from the world economy, so world currencies like the Japanese Yen or the US dollar will simply not cut it. I think bitcoin or a virtual equivalent will be an attractive option as the currency of choice for such hypotheticals. Carrying paper money on Mars would be questionable, while bitcoin will fare much better as the currency of the future.

There was no ban on cryptocurrency in India. What happened was, in 2013 there were circulars issued by the Reserve bank of India (“RBI”), which is the Indian central bank, that cautioned people about dabbling in cryptocurrency. The circulars moved from its usage of cryptocurrency to virtual currencies sometime in 2017. On 6th April 2018, RBI issued a circular that was only a restriction on banks and payment systems from transacting on cryptocurrency. If you were involved in the field of cryptocurrency, you could no longer use banking systems or payment systems to dabble in it. That was what RBI did.

I don’t think that any lawyer in India is a crypto specialist. I was approached to lead the case in the Supreme Court by a lawyer called Jaideep Reddy from a law firm called Nishith Desai Associates. He knew that I specialize in Supreme Court cases, and also that I had interest in technology related work. He came to me, and explained that they have clients who are cryptocurrency exchanges, and they would like to challenge the RBI, the Reserve Bank of India, whose circular had brought cryptocurrency (especially exchanges) to a standstill in India. The Circular ordered all banks in India to withdraw bank accounts from anyone trading or otherwise dealing with cryptocurrency.

We do believe that ATM numbers will continue to grow over the years. At the moment, the cryptocurrency world is still very isolated and there is no circular economy; this means that users who own cryptocurrency need to exchange it first to fiat in order to make everyday transactions. Speaking about the scope of exchanging cash with cryptocurrencies, ATMs play one of the biggest role. Also there are many large scale operators who do this as a profitable business and plan to install hundreds or even thousands of new machines. Today we have a little more than 7000 crypto ATMs worldwide, so we are still at the very beginning. Looking at the past history of installations chart,it is seen that growth is not linear, and so we expect this trend to continue.