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According to Charlie Lee ICO failure “is good for the industry”
According to Charlie Lee ICO failure “is good for the industry”
Altcoin

According to Charlie Lee ICO failure “is good for the industry”

By Amelia Tomasicchio - 8 Sep 2018

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After Bobby Lee‘s speech, the discussion panel entitled “Pain and Fears in 2018” was presented. The panel consisted of Khalid Dianov, Bobby Lee, Paul Mockapetris, Miko Matsumura, Jonathan Galea, Hartej Sawhney and Olga Feldmeier.

The discussion started with the current market dump, but there was also talk of the bankruptcy of ICOs that has been happening in recent months.

“Pain is good. And fear is good”, explains Miko Matsumura, founder of the Evercoin exchange. “Without fear, there would be no courage. The dump of a few months ago divided the brave from those who didn’t have courage. And that’s good in my opinion“.

And that’s what Charlie Lee thinks too.

Speaking of ICOs, most of them ended badly and it’s good for the industry because people have to understand that creating a token doesn’t mean it has to be successful,” explains Charlie Lee.

All in all, 90% of startups fail, why should ICOs be different?

The discussion then shifts to regulation, perhaps as a means of avoiding the FUD and the fear regarding the adoption of cryptocurrencies. But would this really be a solution?

Decentralisation cannot be regulated, I always try to talk to regulators and tell them that a wrong regulation could eliminate 10 years of progress,” explains Jonathan Galea, lawyer and President of BitMalta.

At this point, Olga Feldmeier, CEO of the Swiss Smart Valor, starts a heated debate with Bobby Lee on the topic of KYC.

While Feldmeier advocates the importance of KYC and regulation in order to “protect investors” because “they need to know all the risks“, Bobby Lee has an opposing opinion and meets the applause of the entire audience.

We don’t want KYC, it’s not necessary. It’s a limit to freedom and privacy.”

Photos coming soon…

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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