Can We Conclude That Cryptocurrencies Are No Longer A Surprise Component For Multinationals?

By John Heerdink LinkedIn

Gavin Brown, co-founder and director Blockchain Capital at the Credit Suisse Global Supertrends Conference in Singapore in an interaction with CNBC’s Martin Soong stated “What we’re seeing really is the democratization of money so you know, if you and I wanted to, we could create a CNBC coin,” “Within three hours, we could have it up and running, and when we transact with people, we could request that we do it using that particular coin.” In his terms, multinational firms transacting in their own cryptocurrencies is not “unreasonable.”

When enquired about the confusion that different forms of currency would create for customers, Brown responded “What we’re probably likely to see is … almost like groups or alliances coming round around mainstream currencies.”

Brown added that companies having higher credit ratings like McDonald’s (MCD) and Facebook (FB), may issue cryptocurrencies in the future and since these brands carry consumer trust, convincing customers to use them won’t be hard. The social media giant “Facebook” is also reportedly set to launch its cryptocurrency to ease global payments as per Bloomberg and The New York Times, though no official confirmation from Facebook has been reported.

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week 4 (7)

It’s not ‘unreasonable’ for businesses to create and use their own cryptocurrencies, expert says

The possibility that multinational firms may create and transact in their own cryptocurrencies is not “unreasonable” in the medium term, according to venture capital firm Blockchain Capital Limited’s Gavin Brown…

www.cnbc.com

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