The problem of digital assets is the one that many experts are trying to tackle on different levels. The whole idea of taking something intangible and turning it into a financial instrument sounds foreign to traditionally trained investors.
However, some people see the emerging phenomenon of crypto assets as an opportunity for the whole world to make a shift toward a better future.
Michael Zetser, a successful fintech entrepreneur, talks about the potential that many crypto assets have in the world of finance.
A new frontier for financiers
Mr. Zetser comments on the emergence of contemporary digital assets in the financial world: “just a decade ago, we were talking about the very concept of cryptocurrencies and shared our dreams of a complex, interconnected world without any oversight. Self-regulation is the main attraction of cryptocurrencies.
Let’s look at this concept from the perspective of people who simply want to be in control of our money!”
The entrepreneur knows what he is talking about. His long career was focused on fintech and online financial services. The internet is a dangerous place where security has been a core issue from the moment of conception.
A couple of decades later, we are looking at another concerning problem — privacy and protection of personal information.
“There is a certain anxiety among my peers,” continues Michael Zetser. “People are concerned with privacy and would like to remain anonymous when dealing with financial instruments.
Anonymity and the ability to conceal some of your financial activities online are two things that officials do not like very much. Finding the balance between tight regulations and freedom to do whatever you want with your money is the biggest issue that we must tackle.”
We are standing on the edge of the unknown as more and more countries are thinking about rolling out their versions of digital assets. It will complicate the world of finances instead of making it interconnected and efficient.
What do we need to build now?
Michael Zetser believes that the main priority for the fintech industry is to create a strong foundation. Many projects are trying their hardest to build platforms that would live up to expectations, but we are still far behind of what must be achieved for the new era of finances to start.
“There are three main issues forming a triad that must be balanced. We are talking about decentralization, scalability, and security. When you build a platform that focuses on providing the necessary level of freedom and flexibility, it is hard to scale it up without compromising efficiency.
If you want to focus on scalability, security and decentralization inevitably suffer,” says Michael Zetser commenting on hurdles ahead of the crypto industry.
Thankfully, crypto is not the only way forward. Michael Zetser is focused on building conventional financial platforms that can easily plug into the existing global financial network. His approach is one that tries to marry creative innovations with traditional concepts that are already working.
Online financial services may become the glue that will connect the still developing crypto industry with the rest of the global economy. Many efforts in this direction resulted in a variety of interesting online services.
The fintech industry must be flexible
Michael Zetser believes that the future of the whole industry depends on how well we can adapt to changing market conditions, new regulations, and unforeseen circumstances. As a fintech entrepreneur, Michael Zetser is a huge fan of lean development, efficient management, and constant improvement.
While many companies often find themselves struggling to use funding correctly or produce a product that can survive in a rapidly changing market, Mr. Zetser is focused on quick development cycles and searching for the best ways to utilize funding.
The same approach is taken when dealing with crypto and other digital assets. Moving quickly and relying on research is the way to go!