all this theme according to me rules
thorium and super interesting no point
of departure for the other you arrive from
kpmg
mg but go to friends facts wait for one
crazy crazy I made an interview of
I work in ktm in I was like 25 years old
thing like that then now 21 years ago
I went to kpmg in Milan in front of the
central station to the lady of the
station of via vittorio pisani si era
right there
Signora lina still there I went to do
a sort of job interview
I only remember that he could not
understand what he did practically
that is, we problem was but what you do
you but advice
but of what struggling everything of everything but in
which sectors any sector and not
I could really understand and at the end
in short, they saw me a little uncertain
they projected better than they did not pass
I say I was very uncertain, but how
pass from a place like this to the cryptic world
how to go on being a driver of a
Prime Minister go to make the formula
1 truly is a present world
different but what is different then you
think that a big four but it can be
any other company that exists a
my father for 11 years, remembering a thousand
bickford deloitte of having to score in
chrysler has passed there is the forest book
on the big four mandates because they have them
however, you are in an environment
very formal structured
where do you have any rules ie
internal regulations of what then
how the processes are managed are gods
big libroni so and knows exactly
what is your task all taken up for
just do this
one thinks of a society where ma
change from today to tomorrow
the approach where you get up in the morning and
even in kpmg canteen one morning I knew
well what I did because I had to see
what happens to customers but here really
6 and of what arrives from the first problem
that enters one who has done something that
he does not know if it’s right if he’s wrong but
nobody knows why no one ever is
bent on the problem is therefore circles of
put up procedures from scratch
in a world he never had
procedures and where that is but when I am
they say write the procedures vas what not
I do not even know what to write
do and while we do we realize
if you do it that way and then wrong
we do what we do not, but what in this
so let’s do this
but if you do so, however, there is this
another thing and therefore slowly with
the experience will learn and set up
these procedures
so go from a world where soup is
was
heated and heated a thousand times not
there is nothing more nothing more than you
I can take the only thing is aces
this is small variations that the
variations maybe great pro that is you know
how to do work has over time is
really doing the new soup
putting in the ingredients that
nobody ever used and I do not know if month
I put this ingredient will be of the whole
I feel bad about the relationship we also say with
institutions a regulator when there is
maybe a theme to be addressed is one says
how do you solve this situation
that interlocutors find the other but also
so it’s very personal
sometimes we find interrogators that
they are feeling and understanding us sometimes
others who are very in German say
that is, a lot of them are closed in them
environment 8 perfect thanks for the
translation the experience that I have and so is
ambivalent sometimes I am satisfied
I say that nice cabbage had just one
good discussion we talked well
I see that they understand us and sometimes come back
very intense said it is not possible ie
I seem to be back I do not know
hundred years ago, tries to understand the
people that machines can on the site
of the pony you do not need knows that
when they are the first machines are
come in on the scene you had to have one
man in front of the car that with the
Saturday’s red flag all standing
to pass the car here we are at
Sometimes I feel the red little man makes them
go the way really once
I went to parliament in Italy
I will call mm glasses to which they called me
to make an audition was the theme of the
peer to peer
in practice, napster had come out
nobody understood anything then I went inside
Parliament to audition and
explain this concept I will remember
always the faces of the parliamentarians me
they looked as if they were speaking in Aramaic
and above all the questions that they then have
done later if I had filmed them today
I would have a billion channel
views because there were some
amazing goodies
anyway you know when one is out of
this world also a lot of
prejudices this is the big problem
especially in our world where i
journalists I have to say at the beginning of the
news that there was a coin
anonymous anonymous who use criminals
and in fact we have that proof looks
silk road buy in this other e
this created a unfortunately a bad one
a bad name for all that
it concerns crypto currencies I tell you
honestly, I’m the first to
recognize it myself
for years I wondered when I felt
I’m always talking about bitcoins
asked but who is that idiot that
contact a certain Mr. nakamoto and al
japan to get a crypt
a currency that can not be spent on anyone
part
ok when then instead what then has you
pushed instead to to pass from the other
side from the boat is a nice anecdote
I did a job for a client
traditional customer who satisfied with the
work but invited to light lunch invitation
because we did not start talking
of this and that and the customer makes me
very last I have to say something later
everything I saw in finance
traditional, you saw one too
work that I made you do the mess
there are so many
I decided to change activities heck
what are you doing tells me I launched into the
tech film
ok and ralph in tech at the time there was already
one of the first publications also came out
government also on this film
tech and I took the ball that
you must tell me something because everyone here
they talk about fintech but honestly that
what is refined because I have also read
but this does not understand what’s there
so so new innovative in this
fintech and he told me something that
really but open but just file
he had a veil so he closed me apple
open that they said watch them
if they say secret from fintecna bitcoin ok
and just say sorry that thing
sells a certain satoshi nakamoto in
japan to the criminals and put watched
if you want, I’ll organize a meeting with you
someone who explains how the
bitcoin ok and there when i answered
that organizes there my life has changed
no clear has hit yet others no
fake that is a gigantic macro world e
one of the crypts is a whole month for me
fake and then I tried to give one
definition of fake that because second
so many people talk fake without it either
know what it is
I see the technology in false credit
block chain
the analysis of big data and vaison robots
artificial intelligence
these three components put together
allow me to create an ecosystem
that autonomously and automatically
without any human intervention can
replace the financial activity
this for me the fintech the fact that
today there is this prejudice on the subject
of the regulation
if I spoke with someone I go out for
I wonder
according to you the world is regulated
cryptic yes no the answer is no it is a
together we say bandits that run
with their crypto things spread
in the meanders of the web and are distributed
they exchange their little ones
the truth is that in all countries however in
some countries today there is regulation
I take now I was talking to Christmas for
the group that does the two
you have a lot of burdens laws
It’s a mess to laugh at all
so there is a lot of regulation in it
reality in some sectors for some
reality how it works today if you had to
give a sincere photograph then
sincere that the former depends a bit on
country to country
there are some countries like Switzerland that
they immediately adopted an approach
who called fintec neutral
dear or they say I take laws
already existing perhaps of the laws that
they were already present before the advent
of the chain blog and I apply them to one thing
new
concretely new that the block chain
this on the one hand creates you security
legal because you have laws that
you can apply something completely
new from the limits because if
at the beginning we were all happy because
we had a 50 to 60 percent of the business
it was regulated
now we realize that we have a 10
20 percent where there really is one
nature a law that we have is not
enough
and that’s why now also the
Switzerland wants to make a law on the blog
there is in other countries have not adopted
this initial approach of fintecna
among the then they maybe had more
difficulty at the beginning because not only
knew how to get these regular cabbage
these activities
But today they are putting one
law specifies the law on the block
chain law on digital stores
how much I think about malta I think
to the one that will create this security
so we have this here
the more time passes, let’s say, the more we have
of the regulations that come into force e
that help me facilitate me in mine
activity
the problem is that again the
regulator star making a regulation
without knowing the technology well
we see this we see that a
sometimes they talk but they do not know exactly
how does the country work for you?
it is more advanced illuminated and instead i
countries where it is really far west
then more advanced illuminated to me
really like the legislation of
Liechtenstein really wrote
well
mortar if she has also launched a lot
well the regulations are done well however a
mortar also the stands if a country
little pro pro malta a bit isolated not
he can always be a little afraid of what happens
if we all go there we will be with ours
group we are mortar but we are among the first
so we still manage to manage it
thing but if this law were to pull
many companies in Malta do not think that
not with the arranged in degree of
support or like ireland at the time for
the colossi have also taken
liechtenstein and small but at least there
that shaun hall has no sea beside it
to other countries alongside where the
people can live there then move in
mind the united states malt you could
put all the employees on the boats
out of the truth how to use it is all there
project to make these ecosystems tax
free on some of the ocean and I have them
said ok
however, the great united states were the
United States in the United States of America
playing in the best way because
internally the impression I have is that
they are favoring the ecosystem a lot
we see those applications of
those companies that make those things
that in europe it would be very difficult to
to do because but because the United States
they know this too this technology
it will bring him a great advantage
cheap
the state so well that the banks
Americans are trying to block
the expansion of this system into
other countries one of the biggest problems
that we have are opening with
relations with banks
and when I talk to the banks
banks also tell me the ars
very interesting what you are doing
convinced of future thirst but if I do you
I accept the questionnaire as a client
of my correspondent bank
US that I use for operations
in dollar
there is a question inside if I have clients
if I open account for customer tv col
crypto currencies and if I answer yes then
they make me extra deejay radio there
the risk that they lose
I am an American correspondent for some
operations in dollars thus therefore of
Americans accept them
everyone looks at you bigger than you
crypto society are in america if
they are fighting outside
Ok correct then the Americans this
I think the signal if you want to intersect
that behrami region remain and wife
it’s not real 90 want the goal
the other country of which there is little talk but in
Italy no on this last one is France
France France France is
opening a lot to the ecosystem are
By ministering ad hoc they have the ministers
that they will publish publicly to say
that I want to make laws in favor of
icoop to laws in favor of funds in
crypts collins and so on
the lila the question of france will be
see if these regulations will be like this
innovative to overcome these resistances
in the team instead of asia china watch
with a they are not being European
clearly I do not have many contacts a
an asia japan asian customers
it seems to me that Japan is going
moving in the right direction knows it
also you lecce were among the first to
regulating the exchange was recognizing
the big as well as money for payments
Korea, however, seems to me more messed up
so much so that I have so many Korean customers that
they come to switzerland, they can do it, yes, ok
so they know that to do it in korea
Korea and a lot in which we may have
a sister company that is very tight
by decree but the government that is not
managed to take this this
movement channel it into a structure
clear regulation of mine
feeling is that to date probably
a company that works in this sector
it must have a presence in several countries
to be able to operate correctly
maybe not a license
in a certain country, have another country
that helps you to do the part of this
it’s still a problem that they have
financial companies is not so tied
to the film, in fact, the technical line
solves this problem partly in teak
made in london we have billions of
fintech companies because if I do the
fake the concept is that if I do the
fintech I have offers an application that
to which people can access from anywhere
in the world
in traditional financial activity
if you want to open a bank account
you should move to go meet
the clear intermediary now also of
high traditional finance becomes away
more telematic way however there is this idea
sorry I wanted to go
advertising in another country
and clear that I must have the
permissions of this country if like
a wanted king was brut lives a lot of the
word of mouth I’ve never seen one
airport advertising and brute
advertising will arrive at the airport
rules but for the moment it is word of mouth
there was transfer wise that the service of
transfer funds if you have to do gods
international transfers and make you
better conditions than that
of the banks that is English and did
instead the advertising in the airport
of London and British London is fine in the
his English, however, I have never seen them
out if if I as a Swiss company
I went for our wants for example
our exchange for ours
changer I’m going to do an advertisement in
Italy I can not exclude that thing
start telling me but you’re taken of
aims or is doing by offering a service
in Italy to investors or users
Italians are not regulated in Italy not
you are regulated even in Europe towards the
center in Malta which would not be regulated
in europe anyway to have the
you do not have a passport then you do not
I can do it sometimes
regulations
this is the risk because the activity
financial and very regulated a
protection you do not make me break free to
be able to find the right path between
a thousand different regulations
of a thousand different countries in many sectors
on which then maybe even there is no norm
just what is the advice also that
you would give to those who move in this
sector to not make crap looks
I would first like to make one specify one
what a little kpmg study said
time ago you read only about it that I am
he said he said that the heads of business and CEO
now they are not making decisions of
belly because the world in general e
forget the clips but in general it is
become so complex that even in the
someone active in the traditional world
that only do trade between all of them
regulations that must be applied yes
loses is a certain point for a decision
belly of us is as you say again
a little more extreme because the regulations
there are no better or better to apply
of regulations that have not been made
for activities you do and you never know if
they will apply or not very inca not
there is practice there is a lot of interpretation not
there is a practice that allows you to say
if I do wrong things if I do things
it’s right
you do that way thinking it is
just hoping it’s right
advice I give and to reason for
principles of maybe splitting an act
from your function put yourself in the shoes
of the user’s user maybe
ask for goleto and say ok from a point of
ethical view
what I’m doing and right or
wrong if you’re right from a point
of ethical view if you are you say I do not
I have no problem and I am not ashamed
now go to the news and to
tell that I’m doing this thing
here ok
probably if in the right if you start
to say no promised to say all
what we’re doing is stuff here
maybe I do not feel so calm maybe
you’re doing something that could
be qualified as incorrect
next year to nose reveals again
more regulation
in your opinion what will be regulated
more absolute than the earthly world then
what more is needed
regulation if you need it
first it is said that the feeling that does not
There is regulation, however, you have made it
I count that you are actually there
re-evaluation what I expect for
next year is a regulation
more ad hoc regulation what
I told you before we started from
generalist approach one size fits all
now we have to say no attention
crypto run end of chen have gods
processes that are more in favor
of users who are exactly
contrary to traditional finance
because I no longer have an intermediary
when more than one who holds mine
have on my account that if this here
with my belongings he does something
wrong, I do not know what I do
I lose money the money I have them I am i
My dreams are centralized walid
I check then in this case le
regulations in my opinion must change
not to consider this
to this situation and be adequate to
this situation I expect almost one
lightening compared to finance
traditional
then we can also have a situation
where I instead of having a role e
decentralized a good and centralized
therefore it works like finance
traditional only on the crypt
currencies
ok, however, the fact that the crypts
currencies for example are traceable can
facilitate all the obligations of
money laundering therefore maybe
also leaders and regulations a little more ad
hoc
the fact that it will still be crypto
they tend to become anonymous
now also with good lighting network
maybe to believe the rules a little more
ad hoc on how to do it anyway because i
states will never allow operations
anonymous therefore if the operation becomes
anonymous then there must be another
element that will be identified on
this I am quite convinced not
because I want it but because I think that i
This was not for us
year and how you seem to react
traditional finance your colleagues ex
colleagues who maybe work in that
sector
how they react see more change
always see a strong resistance
then the first time the first time
I went around talking about bitcoins
is of crypto currencies in finance
traditional I saw curiosity mixed a
incredibly honest disbelief
people asked me how but why I did it
understand that they sent us a design
took a hit no when then
even announced that they leave kpmg
to enter what is not arrived figures
went to the cave drop crisis
but I have to tell you I get more and more
contacts and requests of people who
I want to enter this world
last week a former client of mine
he was a trader on his own
he came back to me
the born remember we worked
tried to work together
No, I’m here because we are now with le
bonds we do we do
very little and we are up with the crypt and
we love it and so it is this e
this is nice, that is, let’s say when
actors of traditional trust
enter the world of currency clips
help to create an ecosystem that
what is missing now we are really
too few yet to allow it
institutions to enter but every day
there is one more then yours every day
I saw people laughed him timi
because they saw crypt currencies collapse and
I 15 or hand every day there is one more
which enters the world of the wanted jack a
actor who really brings value and
so they did not realize it was going
well is not the currencies decree course that
he is adopting but it is how many people too
they really start entering the house chen
and this number continues to rise
and this gives me the optimism to say
we are about to arrive at the moment
which all the institutions will hold
inside you look at the technical part
I was talking to a friend and doing it
developer said looks and incredible
as until today
if you develop something for one
platform type I do not know facebook or
twitter
these here you develop your app
then one day he wakes up mark zuckerberg
and say no, just close the access
we ask pious and you close the company
instead when he was telling you
development for and pull a bit for one
particular initiative linked to the world
the csen
I am part of the benefits for which I do not
there is a central subject that you say from
tomorrow
stay at home but I have an interest in it
develop having part of that crypt
currency linked to that initiative and I have
all the interest in the fact that the
project doing so I have an advantage
then distribute if the developer
the entrepreneur also arrives in
because entrepreneur says ok then he creates
a company and come back to this the
investors because an entrepreneur and away
and therefore this positive fly is created
then inaccurate, I am convinced that
there will be a cultural shift in the
next generation
I already see the first thing with my children
that changes the concept of ownership
at least I was born with this
concept you did not want to own wanted
I do not know about the fashion 3a shirt
the cd the car the scooter was yours
scooter your car easy that
you wanted music today that is my children
they do not have cd I had the drawer that
no longer being a case team
especially with collapse tape that
he must live in that female
today you hear me on spotify you have it is not
Your music simply has it
drains
the same is true for the film hubert machine
I am convinced that my son when
it will be great maybe in the morning it gets up and
will now say rent a fiat point for
go to work because I ‘m going out tonight
that guy and they want neither germinate
porsche to make a comparison to go
with the girl the sediment wagon
dragon the agon provided for themselves are
those things
the Swiss cant the agon but the airy ok
for whose legs froze the second is
protected touch of decentralization
that is, we will pass and that is much more
complex because I try to do
understand my parents the
decentralization a mission
impossible
therefore make it understood that I am part of it
of a big mechanism that works
without a central body it is much better
that be controlled by an incident
central as you say today and today
Tomorrow something happens here
I lose everything is a very mental shift
difficult and it was for me there
put a year to understand what he wants
to say decentralization
there are some people who are fifth
they will not get us to understand what it is
decentralization and almost it is really
I see it as an evolution too
of humanity to move from a society
centralized to a company
decentralized, however, once again
to centralize if you have security
that things work and then you know that
the rules are clear , which are the ones
rules you know that are applied
correctly and therefore also the part
legislation and regulation becomes
fundamental are at this point of
view
exact however attention that in reality
what I see more is that these
rules are made
among the private, that is, you also think about it
blog chain or think about blogging
bitcoin bitcoin protocol are the
users who tell you that they have to put themselves
everyone agreed to change the
ok protocol then what
it will happen in the decentralized world and
that we will have the rules of the use of the
decentralization that in the world
centralized to the contract that contract
I do with you will be a contract with
different parts with all and all of us a
we will use this contract then the
rigoletto will give me the regulations that
he will say what the limits of the contracts are
what we can do among us will tell me for
example that wes in these areas
obligatory me of rath 1 determined
I do not know activities you can not do them
you can not sell certain goods not
can go to market in drugs
for example these will give me limits
but horns the frame but inside like it
I write I will write to meet you
decentralized is this the great one
difference
I will trust it, not because I have
trust I make a contract with you I think
in three but because I know we are 100
people participating this is this
decentralized contract and I think that
there will never be 51 who will do that
they are bad faith
the majority will always be in good faith
and will respect the contract if this will be
my safety
[Music]
thorium and super interesting no point
of departure for the other you arrive from
kpmg
mg but go to friends facts wait for one
crazy crazy I made an interview of
I work in ktm in I was like 25 years old
thing like that then now 21 years ago
I went to kpmg in Milan in front of the
central station to the lady of the
station of via vittorio pisani si era
right there
Signora lina still there I went to do
a sort of job interview
I only remember that he could not
understand what he did practically
that is, we problem was but what you do
you but advice
but of what struggling everything of everything but in
which sectors any sector and not
I could really understand and at the end
in short, they saw me a little uncertain
they projected better than they did not pass
I say I was very uncertain, but how
pass from a place like this to the cryptic world
how to go on being a driver of a
Prime Minister go to make the formula
1 truly is a present world
different but what is different then you
think that a big four but it can be
any other company that exists a
my father for 11 years, remembering a thousand
bickford deloitte of having to score in
chrysler has passed there is the forest book
on the big four mandates because they have them
however, you are in an environment
very formal structured
where do you have any rules ie
internal regulations of what then
how the processes are managed are gods
big libroni so and knows exactly
what is your task all taken up for
just do this
one thinks of a society where ma
change from today to tomorrow
the approach where you get up in the morning and
even in kpmg canteen one morning I knew
well what I did because I had to see
what happens to customers but here really
6 and of what arrives from the first problem
that enters one who has done something that
he does not know if it’s right if he’s wrong but
nobody knows why no one ever is
bent on the problem is therefore circles of
put up procedures from scratch
in a world he never had
procedures and where that is but when I am
they say write the procedures vas what not
I do not even know what to write
do and while we do we realize
if you do it that way and then wrong
we do what we do not, but what in this
so let’s do this
but if you do so, however, there is this
another thing and therefore slowly with
the experience will learn and set up
these procedures
so go from a world where soup is
was
heated and heated a thousand times not
there is nothing more nothing more than you
I can take the only thing is aces
this is small variations that the
variations maybe great pro that is you know
how to do work has over time is
really doing the new soup
putting in the ingredients that
nobody ever used and I do not know if month
I put this ingredient will be of the whole
I feel bad about the relationship we also say with
institutions a regulator when there is
maybe a theme to be addressed is one says
how do you solve this situation
that interlocutors find the other but also
so it’s very personal
sometimes we find interrogators that
they are feeling and understanding us sometimes
others who are very in German say
that is, a lot of them are closed in them
environment 8 perfect thanks for the
translation the experience that I have and so is
ambivalent sometimes I am satisfied
I say that nice cabbage had just one
good discussion we talked well
I see that they understand us and sometimes come back
very intense said it is not possible ie
I seem to be back I do not know
hundred years ago, tries to understand the
people that machines can on the site
of the pony you do not need knows that
when they are the first machines are
come in on the scene you had to have one
man in front of the car that with the
Saturday’s red flag all standing
to pass the car here we are at
Sometimes I feel the red little man makes them
go the way really once
I went to parliament in Italy
I will call mm glasses to which they called me
to make an audition was the theme of the
peer to peer
in practice, napster had come out
nobody understood anything then I went inside
Parliament to audition and
explain this concept I will remember
always the faces of the parliamentarians me
they looked as if they were speaking in Aramaic
and above all the questions that they then have
done later if I had filmed them today
I would have a billion channel
views because there were some
amazing goodies
anyway you know when one is out of
this world also a lot of
prejudices this is the big problem
especially in our world where i
journalists I have to say at the beginning of the
news that there was a coin
anonymous anonymous who use criminals
and in fact we have that proof looks
silk road buy in this other e
this created a unfortunately a bad one
a bad name for all that
it concerns crypto currencies I tell you
honestly, I’m the first to
recognize it myself
for years I wondered when I felt
I’m always talking about bitcoins
asked but who is that idiot that
contact a certain Mr. nakamoto and al
japan to get a crypt
a currency that can not be spent on anyone
part
ok when then instead what then has you
pushed instead to to pass from the other
side from the boat is a nice anecdote
I did a job for a client
traditional customer who satisfied with the
work but invited to light lunch invitation
because we did not start talking
of this and that and the customer makes me
very last I have to say something later
everything I saw in finance
traditional, you saw one too
work that I made you do the mess
there are so many
I decided to change activities heck
what are you doing tells me I launched into the
tech film
ok and ralph in tech at the time there was already
one of the first publications also came out
government also on this film
tech and I took the ball that
you must tell me something because everyone here
they talk about fintech but honestly that
what is refined because I have also read
but this does not understand what’s there
so so new innovative in this
fintech and he told me something that
really but open but just file
he had a veil so he closed me apple
open that they said watch them
if they say secret from fintecna bitcoin ok
and just say sorry that thing
sells a certain satoshi nakamoto in
japan to the criminals and put watched
if you want, I’ll organize a meeting with you
someone who explains how the
bitcoin ok and there when i answered
that organizes there my life has changed
no clear has hit yet others no
fake that is a gigantic macro world e
one of the crypts is a whole month for me
fake and then I tried to give one
definition of fake that because second
so many people talk fake without it either
know what it is
I see the technology in false credit
block chain
the analysis of big data and vaison robots
artificial intelligence
these three components put together
allow me to create an ecosystem
that autonomously and automatically
without any human intervention can
replace the financial activity
this for me the fintech the fact that
today there is this prejudice on the subject
of the regulation
if I spoke with someone I go out for
I wonder
according to you the world is regulated
cryptic yes no the answer is no it is a
together we say bandits that run
with their crypto things spread
in the meanders of the web and are distributed
they exchange their little ones
the truth is that in all countries however in
some countries today there is regulation
I take now I was talking to Christmas for
the group that does the two
you have a lot of burdens laws
It’s a mess to laugh at all
so there is a lot of regulation in it
reality in some sectors for some
reality how it works today if you had to
give a sincere photograph then
sincere that the former depends a bit on
country to country
there are some countries like Switzerland that
they immediately adopted an approach
who called fintec neutral
dear or they say I take laws
already existing perhaps of the laws that
they were already present before the advent
of the chain blog and I apply them to one thing
new
concretely new that the block chain
this on the one hand creates you security
legal because you have laws that
you can apply something completely
new from the limits because if
at the beginning we were all happy because
we had a 50 to 60 percent of the business
it was regulated
now we realize that we have a 10
20 percent where there really is one
nature a law that we have is not
enough
and that’s why now also the
Switzerland wants to make a law on the blog
there is in other countries have not adopted
this initial approach of fintecna
among the then they maybe had more
difficulty at the beginning because not only
knew how to get these regular cabbage
these activities
But today they are putting one
law specifies the law on the block
chain law on digital stores
how much I think about malta I think
to the one that will create this security
so we have this here
the more time passes, let’s say, the more we have
of the regulations that come into force e
that help me facilitate me in mine
activity
the problem is that again the
regulator star making a regulation
without knowing the technology well
we see this we see that a
sometimes they talk but they do not know exactly
how does the country work for you?
it is more advanced illuminated and instead i
countries where it is really far west
then more advanced illuminated to me
really like the legislation of
Liechtenstein really wrote
well
mortar if she has also launched a lot
well the regulations are done well however a
mortar also the stands if a country
little pro pro malta a bit isolated not
he can always be a little afraid of what happens
if we all go there we will be with ours
group we are mortar but we are among the first
so we still manage to manage it
thing but if this law were to pull
many companies in Malta do not think that
not with the arranged in degree of
support or like ireland at the time for
the colossi have also taken
liechtenstein and small but at least there
that shaun hall has no sea beside it
to other countries alongside where the
people can live there then move in
mind the united states malt you could
put all the employees on the boats
out of the truth how to use it is all there
project to make these ecosystems tax
free on some of the ocean and I have them
said ok
however, the great united states were the
United States in the United States of America
playing in the best way because
internally the impression I have is that
they are favoring the ecosystem a lot
we see those applications of
those companies that make those things
that in europe it would be very difficult to
to do because but because the United States
they know this too this technology
it will bring him a great advantage
cheap
the state so well that the banks
Americans are trying to block
the expansion of this system into
other countries one of the biggest problems
that we have are opening with
relations with banks
and when I talk to the banks
banks also tell me the ars
very interesting what you are doing
convinced of future thirst but if I do you
I accept the questionnaire as a client
of my correspondent bank
US that I use for operations
in dollar
there is a question inside if I have clients
if I open account for customer tv col
crypto currencies and if I answer yes then
they make me extra deejay radio there
the risk that they lose
I am an American correspondent for some
operations in dollars thus therefore of
Americans accept them
everyone looks at you bigger than you
crypto society are in america if
they are fighting outside
Ok correct then the Americans this
I think the signal if you want to intersect
that behrami region remain and wife
it’s not real 90 want the goal
the other country of which there is little talk but in
Italy no on this last one is France
France France France is
opening a lot to the ecosystem are
By ministering ad hoc they have the ministers
that they will publish publicly to say
that I want to make laws in favor of
icoop to laws in favor of funds in
crypts collins and so on
the lila the question of france will be
see if these regulations will be like this
innovative to overcome these resistances
in the team instead of asia china watch
with a they are not being European
clearly I do not have many contacts a
an asia japan asian customers
it seems to me that Japan is going
moving in the right direction knows it
also you lecce were among the first to
regulating the exchange was recognizing
the big as well as money for payments
Korea, however, seems to me more messed up
so much so that I have so many Korean customers that
they come to switzerland, they can do it, yes, ok
so they know that to do it in korea
Korea and a lot in which we may have
a sister company that is very tight
by decree but the government that is not
managed to take this this
movement channel it into a structure
clear regulation of mine
feeling is that to date probably
a company that works in this sector
it must have a presence in several countries
to be able to operate correctly
maybe not a license
in a certain country, have another country
that helps you to do the part of this
it’s still a problem that they have
financial companies is not so tied
to the film, in fact, the technical line
solves this problem partly in teak
made in london we have billions of
fintech companies because if I do the
fake the concept is that if I do the
fintech I have offers an application that
to which people can access from anywhere
in the world
in traditional financial activity
if you want to open a bank account
you should move to go meet
the clear intermediary now also of
high traditional finance becomes away
more telematic way however there is this idea
sorry I wanted to go
advertising in another country
and clear that I must have the
permissions of this country if like
a wanted king was brut lives a lot of the
word of mouth I’ve never seen one
airport advertising and brute
advertising will arrive at the airport
rules but for the moment it is word of mouth
there was transfer wise that the service of
transfer funds if you have to do gods
international transfers and make you
better conditions than that
of the banks that is English and did
instead the advertising in the airport
of London and British London is fine in the
his English, however, I have never seen them
out if if I as a Swiss company
I went for our wants for example
our exchange for ours
changer I’m going to do an advertisement in
Italy I can not exclude that thing
start telling me but you’re taken of
aims or is doing by offering a service
in Italy to investors or users
Italians are not regulated in Italy not
you are regulated even in Europe towards the
center in Malta which would not be regulated
in europe anyway to have the
you do not have a passport then you do not
I can do it sometimes
regulations
this is the risk because the activity
financial and very regulated a
protection you do not make me break free to
be able to find the right path between
a thousand different regulations
of a thousand different countries in many sectors
on which then maybe even there is no norm
just what is the advice also that
you would give to those who move in this
sector to not make crap looks
I would first like to make one specify one
what a little kpmg study said
time ago you read only about it that I am
he said he said that the heads of business and CEO
now they are not making decisions of
belly because the world in general e
forget the clips but in general it is
become so complex that even in the
someone active in the traditional world
that only do trade between all of them
regulations that must be applied yes
loses is a certain point for a decision
belly of us is as you say again
a little more extreme because the regulations
there are no better or better to apply
of regulations that have not been made
for activities you do and you never know if
they will apply or not very inca not
there is practice there is a lot of interpretation not
there is a practice that allows you to say
if I do wrong things if I do things
it’s right
you do that way thinking it is
just hoping it’s right
advice I give and to reason for
principles of maybe splitting an act
from your function put yourself in the shoes
of the user’s user maybe
ask for goleto and say ok from a point of
ethical view
what I’m doing and right or
wrong if you’re right from a point
of ethical view if you are you say I do not
I have no problem and I am not ashamed
now go to the news and to
tell that I’m doing this thing
here ok
probably if in the right if you start
to say no promised to say all
what we’re doing is stuff here
maybe I do not feel so calm maybe
you’re doing something that could
be qualified as incorrect
next year to nose reveals again
more regulation
in your opinion what will be regulated
more absolute than the earthly world then
what more is needed
regulation if you need it
first it is said that the feeling that does not
There is regulation, however, you have made it
I count that you are actually there
re-evaluation what I expect for
next year is a regulation
more ad hoc regulation what
I told you before we started from
generalist approach one size fits all
now we have to say no attention
crypto run end of chen have gods
processes that are more in favor
of users who are exactly
contrary to traditional finance
because I no longer have an intermediary
when more than one who holds mine
have on my account that if this here
with my belongings he does something
wrong, I do not know what I do
I lose money the money I have them I am i
My dreams are centralized walid
I check then in this case le
regulations in my opinion must change
not to consider this
to this situation and be adequate to
this situation I expect almost one
lightening compared to finance
traditional
then we can also have a situation
where I instead of having a role e
decentralized a good and centralized
therefore it works like finance
traditional only on the crypt
currencies
ok, however, the fact that the crypts
currencies for example are traceable can
facilitate all the obligations of
money laundering therefore maybe
also leaders and regulations a little more ad
hoc
the fact that it will still be crypto
they tend to become anonymous
now also with good lighting network
maybe to believe the rules a little more
ad hoc on how to do it anyway because i
states will never allow operations
anonymous therefore if the operation becomes
anonymous then there must be another
element that will be identified on
this I am quite convinced not
because I want it but because I think that i
This was not for us
year and how you seem to react
traditional finance your colleagues ex
colleagues who maybe work in that
sector
how they react see more change
always see a strong resistance
then the first time the first time
I went around talking about bitcoins
is of crypto currencies in finance
traditional I saw curiosity mixed a
incredibly honest disbelief
people asked me how but why I did it
understand that they sent us a design
took a hit no when then
even announced that they leave kpmg
to enter what is not arrived figures
went to the cave drop crisis
but I have to tell you I get more and more
contacts and requests of people who
I want to enter this world
last week a former client of mine
he was a trader on his own
he came back to me
the born remember we worked
tried to work together
No, I’m here because we are now with le
bonds we do we do
very little and we are up with the crypt and
we love it and so it is this e
this is nice, that is, let’s say when
actors of traditional trust
enter the world of currency clips
help to create an ecosystem that
what is missing now we are really
too few yet to allow it
institutions to enter but every day
there is one more then yours every day
I saw people laughed him timi
because they saw crypt currencies collapse and
I 15 or hand every day there is one more
which enters the world of the wanted jack a
actor who really brings value and
so they did not realize it was going
well is not the currencies decree course that
he is adopting but it is how many people too
they really start entering the house chen
and this number continues to rise
and this gives me the optimism to say
we are about to arrive at the moment
which all the institutions will hold
inside you look at the technical part
I was talking to a friend and doing it
developer said looks and incredible
as until today
if you develop something for one
platform type I do not know facebook or
these here you develop your app
then one day he wakes up mark zuckerberg
and say no, just close the access
we ask pious and you close the company
instead when he was telling you
development for and pull a bit for one
particular initiative linked to the world
the csen
I am part of the benefits for which I do not
there is a central subject that you say from
tomorrow
stay at home but I have an interest in it
develop having part of that crypt
currency linked to that initiative and I have
all the interest in the fact that the
project doing so I have an advantage
then distribute if the developer
the entrepreneur also arrives in
because entrepreneur says ok then he creates
a company and come back to this the
investors because an entrepreneur and away
and therefore this positive fly is created
then inaccurate, I am convinced that
there will be a cultural shift in the
next generation
I already see the first thing with my children
that changes the concept of ownership
at least I was born with this
concept you did not want to own wanted
I do not know about the fashion 3a shirt
the cd the car the scooter was yours
scooter your car easy that
you wanted music today that is my children
they do not have cd I had the drawer that
no longer being a case team
especially with collapse tape that
he must live in that female
today you hear me on spotify you have it is not
Your music simply has it
drains
the same is true for the film hubert machine
I am convinced that my son when
it will be great maybe in the morning it gets up and
will now say rent a fiat point for
go to work because I ‘m going out tonight
that guy and they want neither germinate
porsche to make a comparison to go
with the girl the sediment wagon
dragon the agon provided for themselves are
those things
the Swiss cant the agon but the airy ok
for whose legs froze the second is
protected touch of decentralization
that is, we will pass and that is much more
complex because I try to do
understand my parents the
decentralization a mission
impossible
therefore make it understood that I am part of it
of a big mechanism that works
without a central body it is much better
that be controlled by an incident
central as you say today and today
Tomorrow something happens here
I lose everything is a very mental shift
difficult and it was for me there
put a year to understand what he wants
to say decentralization
there are some people who are fifth
they will not get us to understand what it is
decentralization and almost it is really
I see it as an evolution too
of humanity to move from a society
centralized to a company
decentralized, however, once again
to centralize if you have security
that things work and then you know that
the rules are clear , which are the ones
rules you know that are applied
correctly and therefore also the part
legislation and regulation becomes
fundamental are at this point of
view
exact however attention that in reality
what I see more is that these
rules are made
among the private, that is, you also think about it
blog chain or think about blogging
bitcoin bitcoin protocol are the
users who tell you that they have to put themselves
everyone agreed to change the
ok protocol then what
it will happen in the decentralized world and
that we will have the rules of the use of the
decentralization that in the world
centralized to the contract that contract
I do with you will be a contract with
different parts with all and all of us a
we will use this contract then the
rigoletto will give me the regulations that
he will say what the limits of the contracts are
what we can do among us will tell me for
example that wes in these areas
obligatory me of rath 1 determined
I do not know activities you can not do them
you can not sell certain goods not
can go to market in drugs
for example these will give me limits
but horns the frame but inside like it
I write I will write to meet you
decentralized is this the great one
difference
I will trust it, not because I have
trust I make a contract with you I think
in three but because I know we are 100
people participating this is this
decentralized contract and I think that
there will never be 51 who will do that
they are bad faith
the majority will always be in good faith
and will respect the contract if this will be
my safety
[Music]
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