The Future of Cryptocurrencies

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There have been some attempts to try and create what are essentially like self-referencing stable currencies. The issue with that is that you can end up with a death spiral, right? Where if you lose that peg and the underlying asset base begins to erode in value very, very quickly,. Those two things can actually play off of each other and result in a death spiral for the currency. Now, Bitcoin is Bitcoin and it's a powerful ecosystem and we don't think anything is going to derail that. But if someone wanted to develop an ecosystem related to Bitcoin with a price rule, how could maybe affiliate?"

When ARK CEO and CIO Cathie Wood was discussing Bitcoin and Digital Assets in general with her mentor and famed economist Dr. Arthur Laffer, he told her that it reminded him of an era before the Federal Reserve existed. This idea spurred Cathie to invite Dr. Laffer on the FYI podcast to further discuss the history of money in general and what Bitcoin’s role in the history of money might be. Alongside Cathie and Art, we are also pleased to welcome Ophelia Snyder, the Co-Founder and President of 21.co, a Cryptocurrency Exchange Traded Product (ETP) provider. In the discussion, Cathie, Art and Ophelia discuss the original idea of centralized money, the economic booms and busts of the past, the transparency of digital assets and much more.

“And the more decentralized and transparent the ecosystem is, the better. The more secure.” @OpheliaBSnyder Key Points From This Episode: