According to Simon Dixon, founder of BnkToTheFuture, the traditional monetary system is similar to a Ponzi scheme.
Speaking at the presentation of Terrabitcoin in Lugano, he was able to describe his idea and his project, starting from the assumption that the current global financial system is no longer sustainable, and that instead, cryptocurrencies can be a more credible alternative in the long run.
In particular, with regard to the current moment, he said that it is probably the best period in which to live in the entire history of man from the financial point of view and that even today those who invest or use cryptocurrencies should be considered pioneers.
In Lugano, he talked about his project, the initiative in collaboration with Kim Dot Com, and the other risks that his company is taking in the attempt to obtain interesting results.
We had the opportunity to interview him.
The crowdfunding with Kraken went very well. Any other projects you’re about to launch?
“Exchanges have always been the most successful fundraisers on BnkToTheFuture. I think in the next wave, after the cryptocurrency exchanges, interesting opportunities are in diversifying into the more established companies. I think the next waves that we’re going to see is more lending, decentralised finance products and then I think security tokens. But the time we’ll be investing in the infrastructure is about 4 years before it’s a big thing.
ICOs were conceived in 2013 and it became liquid in 2017, I see the same with security tokens, conceived in 2018 probably liquid in 2022”.
Tell us what it’s like to work with Kim Dot Com
“It’s very difficult to work with such people in such scenarios. I believe the Kim Dot Com case is very important and I believe the technology that he can create thanks to the fact that he now has influence. It’s an important piece of technology to go out in the world. While these are very difficult characters and very difficult situations, the only thing we can do in this scenario is return back to what feels ethically right and I think it is something worth supporting: high-risk, high return can go very wrong and so many things that can go wrong but it’s the nature of the game”.
What are the plans for the future of the platform, now that STOs are about to take over?
“So BnkToTheFuture’s future vision is still the same as it was in the beginning we believe one product and one company at the time. Every area of traditional finance is going to be disrupted. We believe in the disruption of a multi-trillion dollar industry, so we want to create a way to diversify very widely. I think it’s all about supporting the tokenisation of these assets and supporting all the innovators for the next generation of banks supporting these technologies, and providing services that make things more easy to use”.
What do you think of crypto regulation? Should it be clearer and more stringent?
“I think the regulators have a very hard problem. I can’t even keep up with this industry and my full-time job is to keep up with this industry. So for regulators to keep up with this industry is actually an impossible task. So how countries react over the next 5/10 years to cryptocurrency I think will define the country’s economic growth and I think that cryptocurrencies is going to become a political decision where governments and regulators have to decide how they going to embrace these different models, China decided to ban the exchanges, Japan decided to embrace the exchanges, now Japan has all the data and China doesn’t. So these decisions can define the future. They can always change but the decision that regulators make are going to define the future of economic prosperity”.
How do you feel about Libra and stablecoins in general?
“I think Libra is an important project because it drew to the front of everyone’s attention many of the issues that they need to face over the coming years and Libra had the clouts to actually scare every single regulator and, every single government, every single official to making a decision about whether they’re going to be a part of this future or behind of this future”.
And so I think it was a really really important catalyst for bringing in marketing the importance of this industry and sometimes it takes someone huge like Facebook to do that.
Do you think it will succeed?
“I’m not sure whether Facebook or Libra will give up or fight through it. I’m not sure if their mission is strong enough in order to go through the fight, however, if they have the lobbying power and the money that I think they have then they will probably push through it and they will change the world, and people around the world will all be engaged in the cryptocurrency space and the price of Libra vs the price of Bitcoin will show people where where their savings should be”.