Jump to content
hamasugu

Interview with President Kitao of SBI Holdings "Future of cryptocurrency (Bitcoin) market and prospect of Ripple"(Japanese)

Recommended Posts

"On SEC's judgment of securities

In order for the virtual currency XRP to become more decisively widely used, I think that it is necessary to issue "judgment on securities or coins" by SEC (US Securities and Exchange Commission).

In the present situation, this has been postpone all the time. Probably it will be postponement for several more years.

This is because the influence of the judgment result is too enormous, and extremely difficult legal deliberation is necessary. Ripple company is also hiring a bright human being for circumstances, and it is not easy for the SEC to draw a conclusion." 

Disappointing time line , but might be a realistic one , but thank goodness it's a" bright human " :D 

Cool read thanks , wow for 68,  he has so much drive , outstanding individual. 

 

Share this post


Link to post
Share on other sites
Guest

I don't see how President Kitao could have this timeline. One, if there is any chance a bridge asset joins the SDR basket the IMF would release the re-structuring a year ahead of time, which would be this year, 2019, since the 5 year readjustment is next due in 2020. They did the same thing last time when adding CNY. Second, US Congress was pressing for clarity last year, hence the Token Taxonomy Bill so far, Wyoming, etc. which is already in play as of today. Third, do we think both Baakt and Fidelity both misjudged their March roll out so bad that both are delayed into 2020? We could keep going....

Share this post


Link to post
Share on other sites

Some strange translation errors there: obviously, youth=use. But a very interesting interview. Kitao-san is sanguine about the regulatory delay by the SEC; as I read it, he thinks that widespread practical use of XRP will overwhelm the obstruction of unclear regulation.

Share this post


Link to post
Share on other sites
2 hours ago, 7Bs said:

I don't see how President Kitao could have this timeline. One, if there is any chance a bridge asset joins the SDR basket the IMF would release the re-structuring a year ahead of time, which would be this year, 2019, since the 5 year readjustment is next due in 2020. They did the same thing last time when adding CNY. Second, US Congress was pressing for clarity last year, hence the Token Taxonomy Bill so far, Wyoming, etc. which is already in play as of today. Third, do we think both Baakt and Fidelity both misjudged their March roll out so bad that both are delayed into 2020? We could keep going....

He can because XRP isn't going to join the SDR basket? Does it effect the rest of SBI plans for XRP?

Edited by Archbob

Share this post


Link to post
Share on other sites
Guest
40 minutes ago, Archbob said:

He can because XRP isn't going to join the SDR basket? Does it effect the rest of SBI plans for XRP?

I'm not saying that XRP joining the SDR basket is necessarily a reality or a guaranteed catalyst. I was just hypothetically listing one of many reasons why the odds are in XRP's favor that it wouldn't take multiple years for substantial growth. With that being said, the IMF regulates FX rates - it would make sense at some point to consider a bridge asset as part of the weighted basket especially as it's decentralized and the centerpiece of a tri-pair payments future. As was pointed out it's difficult to gauge the transcript due to possible translation discrepancy, so we can't be sure the timeline is verified. Point two and three of my post are tipping points in the US in my opinion especially considered the notion that the US is lagging in clarity. I think if CBDCs come to fruition, there would be regulated assets as testnets to establish validity moving forward so I think XRP stands to gain a foothold in cross border prior to bank stablecoins and CBDCs. So I look at the possible stages of this evolution and that's why I think a timeline of 'years' out is excessive.

Share this post


Link to post
Share on other sites
2 hours ago, PunishmentOfLuxury said:

Some strange translation errors there: obviously, youth=use. But a very interesting interview. Kitao-san is sanguine about the regulatory delay by the SEC; as I read it, he thinks that widespread practical use of XRP will overwhelm the obstruction of unclear regulation.

Government reacting to the demands of the market for a change!

Share this post


Link to post
Share on other sites

I am 68 years old, but I have been watching the world markets such as 'stock market, bond market, interest rate movements, currency markets' everyday everyday for more than 40 years. From the time I entered Nomura Securities in 1974, I have been sleeping for 4 and a half hours. I think that there is not anyone who can easily win me in the "intuition and market trends"

Pssh...amateur

We need somebody like Justin Sun!!

/s

Share this post


Link to post
Share on other sites
2 hours ago, PunishmentOfLuxury said:

Some strange translation errors there: obviously, youth=use. But a very interesting interview. Kitao-san is sanguine about the regulatory delay by the SEC; as I read it, he thinks that widespread practical use of XRP will overwhelm the obstruction of unclear regulation.

Agreed. Also, Kitao is likely saying here that regulatory postponement is a blessing in disguise, because it gives the men in the trenches and on the front line more time to develop, perfect, and deploy practical use cases, before the next surge that will follow regulatory certainty. Lets get the kinks out the best we can before we get the green light.

Share this post


Link to post
Share on other sites
1 hour ago, 7Bs said:

I'm not saying that XRP joining the SDR basket is necessarily a reality or a guaranteed catalyst. I was just hypothetically listing one of many reasons why the odds are in XRP's favor that it wouldn't take multiple years for substantial growth. With that being said, the IMF regulates FX rates - it would make sense at some point to consider a bridge asset as part of the weighted basket especially as it's decentralized and the centerpiece of a tri-pair payments future. As was pointed out it's difficult to gauge the transcript due to possible translation discrepancy, so we can't be sure the timeline is verified. Point two and three of my post are tipping points in the US in my opinion especially considered the notion that the US is lagging in clarity. I think if CBDCs come to fruition, there would be regulated assets as testnets to establish validity moving forward so I think XRP stands to gain a foothold in cross border prior to bank stablecoins and CBDCs. So I look at the possible stages of this evolution and that's why I think a timeline of 'years' out is excessive.

Well, Iran just decided to build their national crypto on Stellar Lumens network, so you may be right.

Share this post


Link to post
Share on other sites
1 hour ago, StellaBlueZerps said:

I am 68 years old, but I have been watching the world markets such as 'stock market, bond market, interest rate movements, currency markets' everyday everyday for more than 40 years. From the time I entered Nomura Securities in 1974, I have been sleeping for 4 and a half hours. I think that there is not anyone who can easily win me in the "intuition and market trends"

Pssh...amateur

We need somebody like Justin Sun!!

/s

Intuition comes from deep understandings and sensitivity to how things work.  Intuitions arrive as emotional responses built from pattern recognition that are subliminal.  The patterns are based on subliminal awarenesses which come from long term study and experiences, and they are more accurate and more reliable for decision making than rationalising.  Rationalisation is an add-on, confirmation and safety process, but rationalisation without intuition is not a reliable method of discerning trends.  Every great scientist, innovator or business person pays deep attention to their intuition.  For instance the event of an apple falling from a tree provided the intuition that led Newton to discover and understand gravitational forces.  Einstein looked for beauty to provide intuition for his theories of relativity.

XRP has David Schwartz and Chris Larsen as well as a host of executives with long histories in many specialist spheres of Fintech.  More than a match for Justin Sun (however brilliant).

Edited by Julian_Williams

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...