Reading time: ~2 m
The other day, Michael Kutchen, founder of Wealthsimple, a Canadian online investment management service that targets millennials, gave an interview to Bloomberg, the leading US publication for professional financial market participants. The topic of conversation was the development of the cryptocurrency industry in Canada.
Katchen is confident that Canada should intensify its actions regarding the development of the cryptocurrency industry. According to the businessman, recently more and more influential people have shown interest in digital assets, which means that this area of activity will only develop in the future. And only those countries, the man is sure, which will take an active part in the popularization and promotion of digital assets at the state level, will receive huge benefits.
In addition, the investor emphasized, today the smartest programmers, engineers and other technology specialists have directed all their attention and skills to the innovation industry. This fact only indicates that the whole world is currently on the verge of a new technological revolution.
Speaking about Canada, Katchen, as part of a conversation with a journalist, noted that if it can attract experienced crypto-specialists to work on the development of the “new money” industry, then it will be very difficult for other states to compete with it in the future. Naturally, for this, Canada will need not only the help of professionals, but first it will have to create the proper conditions for the activities of crypto companies and the promotion of their products.
Speaking about the main digital asset, the man noted that bitcoin could have a good future, it could become a reserve means of payment for many countries, but the main drawback of BTC, Katchen believes, is that a lot of speculation and fraudulent schemes are associated with the asset.
At the end, Katchen focused on the fact that one of the main directions in the activities of his company has recently become teaching users to invest correctly and safely in digital assets.
Recall that we previously reported that the Central Bank of Canada does not see any threat to the financial stability of the country in digital assets.
#Canada #create #conditions #development #cryptocurrency #industry #Michael #Kutchen
