Liquid.com CEO, Mike Kayamori, Claims There Is A “Risk” In Going Into Traditional Finance
The current evolution of financial technologies being developed will soon face out the traditional financial industry. This poses a risk for anyone willing to go to back to traditional finance according to Liquid.com and QUOINE CEO Mike Kayamori. The revolutionary personality in the field of blockchain is pushing for the adoption and regulation of blockchains in the current global economy.
The latest remarks come after Liquid raised a series C round in the past month, reaching unicorn status with a billion dollar valuation. Liquid is a crypto exchange providing liquidity to trader and ranks as one of the largest digital asset companies in Japan.
The Foreign Correspondents Club Of Japan On The Future Of Financial Industry
In a roundtable event on finance and technology in Japan, the Foreign Correspondents Club of Japan (FCCJ), Mike offered his views on the future of fintech in impacting the finance industry. While the traditional finance industry continues to lead the global economies, Kayamori does not believe traditional finance is the future.
Kayamori further emphasized that the traditional finance industry and fintech will cooperate instead of challenging each other to build a better financial industry. The QUOINE CEO further affirmed that the overall attitude towards the digital asset industry has changed significantly as more mainstream finance guys are getting into blockchain technology. He said,
“When I first started in this industry people thought I was getting into money laundering. But now a majority of the people I do business with are in the mainstream finance industry.”
He continued saying,
“Digitization (of finance) will never go back. The shift in attitudes and demographics is such that there’s a risk in going into traditional banking these days.”
The Embracing Of Digital Solutions In Japan
The QUOINE exchange opened some months after the Mt. Gox scandal happened earlier in 2013. The government of Japan has since taken regulatory measures to avoid such fatal loss of investment by investors. Kayamori said that Japan’s measures to ensure the country provides a regulated environment for this new technology is leading the way as the first economic powerhouse to legislate on the issue.
Japan embracing digital solutions in the country and regulating on the issue provides a stark contrast to other countries such as United States. The U.S provides a different landscape to regulating the industry as the authorities choose to use traditional legislation and laws to govern the new industry, a move Kayamori believes will be hard to implement.
The QASH Project
QUOINE raised one of the largest presales in Japan as its digital asset, QASH raised $100million USD in a month. The QASH token is an ERC20-based utility token for use as a trading pair and to pay for services on QUOINE’s network.
QASH currently trades at $0.117680 USD, representing a slight 1% drop in price in the past 24 hours. The coin ranks 111th on Coinmarketcap listings with a total market capitalization of $41,187,954 USD.