KEY
CONCLUSIONS
Stablecoin
and security tokens are the next step in the development of blockchain
technology, allowing for a transition from speculation in the highly volatile
cryptocurrencies of the last few years to facilitating the accelerated
development of the real economy through new cryptocurrencies
“Russia has certain assets that are similar to venture
investments and stable tokens: oil, gas, and other natural resources, like
gold, for example. Russia has issued 3,000 licenses for resource extraction,
including of palladium and platinum. These are assets with a high market
liquidity. We started a project with Huobi to create a stable token platform
based on diamond and gold mining. This will assist Russian geologic exploration
and have a significant impact on our economy,” Sergey Gorkov, General Director,
Chairman of the Management Board, Rosgeologia.
“Exchanges are another type of market. You do not have
enough liquidity running through these small stock exchanges. New token-based
mechanisms can completely transform this situation. We can develop tokens in
real estate,” Luca Moretti, Partner, SMC Family Office SA.
“If we are talking about the value of tokens, I think
that, for FinTech 3.0 and 4.0, we should keep an eye on things like the crypto
economy and security and stable tokens,” David Chen, Vice President of Global
Business, Huobi Global.
“Token volume will see future growth if we help create
cryptocurrency ecosystems that can utilize tokens and decentralized economic
tools,” David Chen, Vice President of Global Business, Huobi Global.
The
tokenization of real assets is becoming an increasingly popular area of
investment activity
“Tokenization is a new era of global investment. No
one wants to take risks,” Sergey Gorkov, General Director, Chairman of the
Management Board, Rosgeologia.
“Tokens create new investment opportunities and open
new spheres for investment. A Swiss bank can create their own crypto. There's
more trust in banks. This is an evolution that needs time to develop,” Louis
Raymond Bisang, Senior Advisor to the Board of Directors, Turicum Private Bank.
“Switzerland has a negative interest rate. There is a
large number of potential investors that could invest in new instruments such
as cryptocurrencies and tokens. There are new trends in financial instruments
with respect to hedging,” Daniel Haudenschild, President, Crypto Valley
Association (CVA) of Switzerland.
Asia
is becoming a leader in the development of blockchain technologies
“Switzerland and Lichtenstein were not ready to
develop tokens. Australia and Southeast Asia are actively developing ICOs,”
Stefan Bucher, Managing Partner, CORUM Vermögensverwaltung AG.
“Asia knows more about cryptocurrencies than anyone
else in the world,” Daniel Haudenschild, President, Crypto Valley Association
(CVA) of Switzerland.
Tokenization
has already spread to many industries
“Russia, Kazakhstan, Mongolia, and other countries are
developing junior mining and mining as a whole. Junior mining consists of,
essentially, start-up projects in extraction. We can boost more investment into
smaller projects. We go where traditional financial organizations do not. There
are new, major opportunities that are waiting for additional capital,” Kairat
Kelimbetov, Chief Executive Officer, Astana International Financial Center.
“We can tokenise a Picasso. The retail market is very
popular. We can even tokenise football players,” Luca Moretti, Partner, SMC
Family Office SA.
“The digital economy is currently at an early stage of
development. There is a lot of work that needs to be done and issues to be
addressed. This is a good time to move forward. We are talking about projects,
about regulation and real-world applications,” David Chen, Vice President of
Global Business, Huobi Global.
PROBLEMS
Lack
of a regulatory framework and regulatory mechanisms
“There are significant risks as well, especially when
it comes to the lack of regulation. Only 44 or 45 countries have begun working
on a regulatory framework for cryptocurrencies. Russia does not have such a
framework,” Sergey Gorkov, General Director, Chairman of the Management Board,
Rosgeologia.
“Since 2019, we have seen a slowdown in the
cryptocurrency market. We need new directions in cryptocurrency. This is where
bitcoin has development potential,” Jason Luo, Head of Business Development and
Co-founder, BitForex.
Retail
investors’ lack of knowledge about blockchain technologies and cryptocurrencies
“There is a global lack of education about
cryptocurrencies. Children learn about coins very late in their education,”
Daniel Haudenschild, President, Crypto Valley Association (CVA) of Switzerland.
SOLUTIONS
Creating
a regulatory framework and international regulations
“Investors need regulatory guarantees to be encouraged
to make long-term investments,” Daniel Haudenschild, President, Crypto Valley
Association (CVA) of Switzerland.
“China is actively involved in cryptocurrencies: we
trade USD 5 billion a day and the trade volume is constantly increasing. This
calls for the creation of a regulatory framework. There need to be regulations
for the international market. Cryptocurrencies can be understood and regulated
through legal measures. We are developing in an equitable manner and work with
regulators around the world,” Lennix Lai, Director, OKEx.
Implementing
stablecoin projects
“We are talking about national stablecoins. No one is
bothered by tokens that are supported by the government: gold or silver. There
are assets and resources to support them. There is the issue of institutional
frameworks. The government has enough authority and reputation to drastically
change the perception of stablecoin,” Daniel Haudenschild, President, Crypto
Valley Association (CVA) of Switzerland.
“Europe currently has the largest market for the
development of cryptocurrencies. If we are talking about tokens and stable
tokens, the greatest amount of potential is in Europe. Europe has that which
the US does not. Only basic details are known in Russia,” David Chen, Vice
President of Global Business, Huobi Global.
Organizing
educational projects and programmes related to blockchain technologies
“We are focused on providing education for new traders
in blockchain technologies,” Jason Luo, Head of Business Development and
Co-founder, BitForex.
“We are seeing a growing appetite but we also see that
there is a need for education. A lot of people still do not understand
cryptocurrencies. They might understand bitcoin, but not protocol projects. But
they also see diminishing yields in traditional investment vehicles, so the
move to alternative investments is clearly here,” Louis Raymond Bisang, Senior
Advisor to the Board of Directors, Turicum Private Bank.
Developing
cooperation between traditional banks, FinTech, and blockchain companies
“BitForex has a small share of the traditional
securities market, so we thought, why not combine traditional financial
products and cryptocurrency” Jason Luo, Head of Business Development and
Co-founder, BitForex.
For more information, visit
the Roscongress Foundation's Information and Analytical System at roscongress.org/en.
