{"id":13545,"date":"2022-11-29T10:38:44","date_gmt":"2022-11-29T10:38:44","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/29\/blockchains-promise-is-mostly-speculative-says-former-fdic-chair\/"},"modified":"2022-11-29T10:38:45","modified_gmt":"2022-11-29T10:38:45","slug":"blockchains-promise-is-mostly-speculative-says-former-fdic-chair","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/29\/blockchains-promise-is-mostly-speculative-says-former-fdic-chair\/","title":{"rendered":"Blockchain&#8217;s promise is mostly speculative, says former FDIC Chair"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1654168283039-ddde6fd2-3607-4901-a699-5a47938a660f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1654168283039-ddde6fd2-3607-4901-a699-5a47938a660f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1654168283039-ddde6fd2-3607-4901-a699-5a47938a660f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1654168283039-ddde6fd2-3607-4901-a699-5a47938a660f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2022\/06\/1654168283039-ddde6fd2-3607-4901-a699-5a47938a660f.jpg\" alt=\"\" width=\"100%\" height=\"100%\"\/>\n<\/picture>\n                    <\/div>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\">Blockchain know-how holds numerous promise, says Fmr. FDIC Chair Sheila Bair.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">However, she argued that a lot of the promise of the blockchain trade is speculative.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">Cryptocurrencies with worth will function in a transparent regulatory surroundings.<\/p>\n<\/li>\n<\/ul>\n<h2 dir=\"ltr\"><strong>Blockchain know-how holds numerous promise<\/strong><\/h2>\n<p dir=\"ltr\">Sheila Bair, the former chair of the Federal Deposit Insurance Corporation (FDIC), <a href=\"https:\/\/www.cnbc.com\/video\/2021\/06\/24\/andreessen-horowitzs-katie-haun-on-new-crypto-fund-chinas-crackdown.html\" rel=\"noopener noreferrer\" target=\"_blank\">told CNBC<\/a> in a current interview that she believes blockchain know-how holds numerous promise.\u00a0<\/p>\n<p dir=\"ltr\">Bair, who is additionally the manager director of Paxos, a blockchain know-how firm, stated;<\/p>\n<p dir=\"ltr\"><em>\u201cI have always differentiated the asset from the technology. I do think the technology holds a lot of promise for socially beneficial uses like payment systems and tracking supply chains. There are a lot of interesting use cases that can and should be developed. The problem is most of this industry has just gone to the speculative assets, and that works until it doesn\u2019t.\u201d<\/em><\/p>\n<p dir=\"ltr\">She added that cryptocurrency tasks that don\u2019t have worth are being punished by the market whereas people who have worth will function in a transparent regulatory surroundings to assist nurture the know-how the place it socially advantages the society and have regulation shut it down the place it is not.<\/p>\n<h2 dir=\"ltr\"><strong>Crypto area information clear regulation<\/strong><\/h2>\n<p dir=\"ltr\">Her remark comes barely two weeks after Binance CEO Changpeng Zhao said that the crypto sector\u00a0<a href=\"https:\/\/coinjournal.net\/news\/the-crypto-sector-needs-clear-and-stable-regulations-says-changpeng-zhao\/\" rel=\"noopener noreferrer\" target=\"_blank\"><u>needs clear and stable regulations<\/u><\/a>.\u00a0<\/p>\n<p dir=\"ltr\">When requested in regards to the gradual regulatory method towards the cryptocurrency market, Bair stated;<\/p>\n<p dir=\"ltr\"><em>\u201cThere is a disappointing lack of agility in our regulatory system. We saw that during the Great Financial Crisis when the regulators were slow to respond. Part of it has to do with our vulcanised regulatory structure, with the SEC, CFTC, FDIC, and several other regulatory agencies all tasked to handle various jobs. So when it comes to regulating the market, there is a turf war between the regulatory agencies when the focus should be on regulation.\u201d<\/em><\/p>\n<p dir=\"ltr\">The former FDIC boss additionally urged Congress to permit the regulatory businesses to control the market and meddle much less within the affairs.\u00a0<\/p>\n<p dir=\"ltr\">This\u00a0<a href=\"https:\/\/coinjournal.net\/news\/\" rel=\"noopener noreferrer\" target=\"_blank\"><u>latest cryptocurrency news<\/u><\/a> comes because the broader crypto market slowly recovers from yesterday\u2019s stoop. The complete crypto market cap is heading towards the $850 billion mark after including greater than 2% to its worth in the present day.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/blockchains-promise-is-mostly-speculative-says-former-fdic-chair\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Blockchain know-how holds numerous promise, says Fmr. FDIC Chair Sheila Bair. However, she argued that a lot of the promise of the blockchain trade is speculative. Cryptocurrencies with worth will function in a transparent regulatory surroundings. Blockchain know-how holds numerous promise Sheila Bair, the former chair of the Federal Deposit Insurance Corporation (FDIC), told [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[11],"tags":[1502,1692,3342,5318,3263],"class_list":["post-13545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-blockchains","tag-chair","tag-fdic","tag-promise","tag-speculative","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/13545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=13545"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/13545\/revisions"}],"predecessor-version":[{"id":13546,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/13545\/revisions\/13546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/2277"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=13545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=13545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=13545"}],"curies":[{"na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