CoinGeek Conversations

Setting a festive mood with a holiday shirt to boot, Charles Miller kicks off the CoinGeek Conversations Christmas Special this year, sharing a bubbly toast with his guests: CoinGeek Reporter, Becky Liggero, and Osmin Callis, the Founder and CEO of Mode 8.

The two battled it out to the end in an exciting quiz covering topics, such as Bitcoin SV (BSV) companies, Bitcoin terminologies, entertainment, science, and a final odd one out round. Formulating the questions using ChatGPT, Charles marveled at how the language model came up with its responses, as well as abstract images for BSV companies, based on the very little information he gave.

The first round focused on Bitcoin SV companies, with Charles asking participants to identify BSV their names based on AI images. The next round shifted to general knowledge, covering topics such as the Olympic Games in London, planets, Komodo dragons, and Taylor Swift albums. The third round took a unique turn, presenting descriptions from Robin Kohze, CEO and Co-founder of Vaionex, with participants tasked to identify Bitcoin-related terms based on these descriptions. In the final, odd one out, round, participants had to pick the word or phrase that didn’t belong among four choices.

The competition was fierce as Osmin and Becky vied to answer questions, earning points for correct answers. At the end of the quiz, the scores were tallied, ultimately revealing the winner, with prizes, like the bubbly, ‘magically’ passed across the online connections!

To find out who won, you'll need to watch the show and perhaps test your knowledge by attempting some of the questions! Best of luck, and may you have a joyful holiday season from the CoinGeek Conversations team!

In the latest episode of CoinGeek Conversations, Charles Miller meets Michael Simeon, the Co-founder and CEO of VPD Money, a company which promises to create "The Bank of You."

"VPD" stands for "Virtual Payment Digital." Michael explains that they would have made their tagline, "The Bank of You," the name of the company but that there are regulatory restrictions on using the term "bank" in the name of a business.

Charles explores the user experience by signing up for VPD Money during the conversation. Michael guides him through the process, highlighting the flexibility in funding options, including transfers, card transactions, and unique codes like USSD codes, popular in Africa.

One objective of VPD Money is financial inclusion, particularly in underserved regions. Michael expresses his passion for empowering communities: "we let you build your home bank." He emphasizes the challenges faced by those in remote areas where traditional banking is a challenge. VPD Money aims to bridge this gap.

Michael highlights the strategic deployment of Point of Service (POS) machines, saying, "we have partnerships with all the places where we push out POS machines". These machines facilitate easy access to financial services, especially in areas where physical banks are scarce.

When asked about the company's progress, Michael reveals, "we have over 50,000 customers," categorizing them into global customers, SMEs, and the unbanked. He touches upon the future capability of international remittances, contributing to the financial inclusion of the global community.

Charles asks about Michael's entrepreneurial journey, referencing his previous venture, VoguePay. Michael explains a difference, stating that VoguePay is a payment processing company, while VPD Money is a comprehensive digital banking experience.

Michael discusses VPD Money's future plans, including personalized savings features. He shares a concept of saving customers 20 per cent of their earnings monthly through AI-driven insights and negotiated discounts.

Having extensive experience in the crypto space, Michael reveals that he was among the pioneers introducing crypto payments in Nigeria back in 2014. He acknowledges the unexpected trend of Nigerians using crypto as a store of value against their currency.

CoinGeek Conversations concludes its three-part Block Dojo mini-series with insightful conversations featuring innovators in blockchain technology.

In the latest interviews, Charles Miller meets three entrepreneurs completing the business incubator program: Robin Russel of Satva Trust, who discusses the use of blockchain to enhance emissions reporting in the shipping industry; Priyatham Varma of Back3nd, who explains his mission to empower non-technical individuals to create fintech products; and Luiz Adler of Smash Mountain Studio, who shares the journey behind developing the world's first Brazilian Jiu Jitsu game.

In the first interview, Charles speaks to Robin Russel, Co-founder and COO of Satva Trust, a company using blockchain technology to improve emissions reporting in the shipping industry. Robin stresses the importance of accurate data in an industry that releases around a billion tons of carbon dioxide each year, making up three per cent of the world's total emissions.

The current data on emissions is unreliable, creating problems for financial stakeholders like lenders and insurers. "It's really a question of visibility," Robin explains about having clear information to make informed decisions about business risks.

When discussing the market for emissions data, he explains that lenders and insurers pay for risk assessments using emissions data, along with shipowners who "would really like to showcase how well they're doing in that direction". However, unreliable data makes it hard for shipowners to showcase their environmental efforts.

The first step to producing more reliable data is to eliminate self-reported data from ships. Robin notes the importance of using satellite data, which includes weather, sea conditions, ship details, position, and speed, processed through AI.

Charles asks about the social and environmental motivations behind the venture. Robin asserts that "we're all interested in sustainability," acknowledging the team's commitment to addressing climate challenges.

As for the unreliability of data in the shipping industry, Robin noted, "It seems like a situation that needs to change. The technology exists now to make a change."

Next, Charles sits down with Priyatham Varma, founder and CEO of Back3nd and a former web developer and educator. He has a mission to empower individuals without technical skills to create their own fintech products.

As Priyatham puts it, "Back3nd is a no-code platform where anyone can easily build blockchain applications, especially for the fintech industry.” The platform is so simple to use that even those unfamiliar with coding will be able to build a business on top of blockchain, he says.

"Blockchain is an entirely new system and is rewriting the entire finance industry. You can be a beginner, but in two years, you'll be an expert in blockchain space.” Back3nd includes products like payment gateways, peer-to-peer lending platforms, and analytics dashboards.

Back3nd offers a range of subscription plans but as Priyatham explains, "if you don't want to subscribe, you can still use the free version, but we'll be taking a larger commission on every transaction. Subscribers enjoy reduced transaction costs and access to features like analytics dashboards.”

As for Back3nd's target users, Priyatham explains, “the first customers are entrepreneurs or innovators who want to build something on top of our platform, 60 per cent of the entire blockchain ecosystem consists of people who aren't coders but want to build something on top of it.”

Lastly Charles speaks to Luiz Adler, founder and Game Director of Smash Mountain Studio, about the latter’s journey behind creating the world's first Brazilian J

Charles Miller is once again exploring innovative ventures in the Block Dojo incubator program on this week’s CoinGeek Conversations. Rafaela Azevedo’s The Chain Academy trains developers for Web3; Kenneth Kelly's Revested streamlines real estate transactions; and Marcus Odubonojo's Motion Shield simplifies car accident reporting— all showcasing the potential of blockchain technology.

Kicking off our series of interviews, we begin with Rafaela Azevedo, the founder of The Chain Academy, who takes a unique approach to training developers for the rapidly evolving Web3 space. Rafaela’s journey into the tech industry is influenced by her tech background, as she explains that “all my family is in tech."

Her parents, both developers, played a significant role in shaping her passion for technology. Growing up surrounded by the world of coding, Rafaela embarked on her coding journey at a very young age. "I was coding when I was six years old with my dad. I just got really passionate about the idea and just went for it," she recalls.

The Chain Academy is an educational platform for developers entering Web3. The training program not only focuses on individual skill development but also aims to link developers with potential employers. “They are going to be skilled up to collaborative commercial projects where they can actually have their first experience and create a portfolio," she notes.

The Chain Academy offers a unique learning experience with a step-by-step approach, short videos and text, catering to individuals with varying attention spans. In addition, AI technology will be used to provide instant feedback to developers, assessing their strengths and areas for improvement.

The Chain Academy’s roadmap includes a commitment to addressing various blockchains, starting with Solidity and Ethereum and expanding to others such as the BSV Blockchain. As for the company’s revenue model, Rafaela says it will include a subscription model for developers and fees for businesses posting projects.

Next was Kenneth Kelly's Revested, a blockchain-based business that aims to simplify and expedite the process of buying and selling houses. Kenneth is keen to point out that Revested utilizes blockchain technology to eliminate old practices in the real estate industry. "The problem in the industry, going back to my grandfather's time, would be that one in three property sales fall through, and on average, it takes between three and six months. So, you know, huge problem within the space."

Revested addresses these challenges by streamlining mundane processes, especially with compliance and regulation. As Kenneth explains, "KYC when you come on to Revested is simple.. you enter your name, email, passport, and take a photograph of yourself. We then upload your property title deeds, which we can cross-check using machine learning against the land registry document."

Blockchain technology will be used in the digital exchange for property transactions. "We're building a custom layer two platform, essentially a digital exchange to connect a wallet dependent upon the currency and to be able to trade that currency in and out of the exchange."

Kenneth envisions a future where property tokenization enables instantaneous transactions. "You could be down in the pub on a Friday, and you could be selling your property in minutes instantly," he says.

However, Charles raises concerns about the potential risks and the necessity for a thoughtful decision-making process in real estate transactions. Kenneth responds by highlighting the role of machine learning in scanning title deeds for underlying issues, saying, "there's new machine learning models that are really pushing boundaries within the legal space."

When asked about the business model, Kenneth explains "we would take a percentage of transaction fees based o

The latest group of entrepreneurs to graduate from Block Dojo, the London incubator programme for startups building on the BSV blockchain, are sharing their ambitions on CoinGeek Conversations over the next three weeks.

In the first show, two founders describe their business plans. First, Ash Yarro’s Trackr HR is designed to bring technology, particularly AI, to bear on the inefficiencies of the highly-lucrative recruitment business.

Ash was already an experienced entrepreneur. But when he talked to his girlfriend about her work in recruitment, he was astonished at what he heard: “it became apparent that there were just so many complexities and long, laborious processes within being a recruiter.”

Ash realised he had found his next project. He contacted friends who work in recruitment and HR and asked to spend time with them at work to learn about their business. He says he discovered “so many problems in terms of fragmented systems, outdated practices and just so many spaces for top candidates to slip between the cracks”. Unlike in the working practices of lawyers and accountants for instance, he said, new technology was rarely being used.

So how is Trackr HR going to fix that? Ash says it will be a “multipronged solution”. AI will be deployed right from the first contact between the recruiter and their client, to analyse conversations that describe the role the client wants to fill and the kind of candidate they’re looking for. From that, AI will generate a brief.

Then throughout the process, AI will continue to improve efficiency by analysing applications and video responses by candidates, saving the recruiter time and allowing a more systematic approach. Ash believes the business is ready for innovation.

AI is also an important component of Kofo Are’s Thier idea. She describes it as “a mobile platform for the prevention of obesity and type two diabetes”. Her customers will be big businesses who want to improve the health of their staff - not least, Kofo says, because obesity costs companies $3,000 to $15,000 per employee per year.

The first part of the idea is to give users an app that will track the exercise they take and their food and drink consumption. This information will then be used to recommend interventions - anything from changing your diet to something more ambitious:

“We will match you with a health care practitioner who will offer interventions tailored to your specific needs. We'll also match you to groups on the platform because we plan to have communities where we group people based upon their risk. The purpose of the communities is because we believe in the power of peers: when you're in groups and you know you're suffering from the same type of disease, we tend to encourage one another to make the right choices around food, around exercise, around the hours of sleep.”

One of the benefits of Thier, in the UK at least, is that it would take some of the pressure off the National Health Service. Kofo agrees that would be a “great thing”. But of course, working with businesses, she knows she also has to incentivise them financially, by pointing to the benefits they’d enjoy with fewer staff absences and by slowing the growth of ever-increasing health insurance premiums.

Don’t miss next week’s CoinGeek Conversations, to meet more Block Dojo entrepreneurs.

In the latest episode of CoinGeek Conversations, Jack Pitts, founder of Slictionary, Brendan Lee, founder of Elas Digital and CoinGeek's Charles Miller delve into Zeke Faux's new book, Number Go Up.

Faux, a journalist from Bloomberg Businessweek, takes readers on a journey through the crypto world, focusing on characters like Sam Bankman-Fried of FTX, the cultural phenomenon of Bored Apes, and the mysteries of Tether's $68 billion valuation.

The book's format, a first-person narrative, fascinated Jack, who said he enjoyed the informal style. Faux's approach reflected the author's personal experience as he became a character in the story. Brendan found the storytelling engaging, describing it as an adventure that kept him hooked: “the author managed to get into the offices of several of these really high flying crypto executives. And I mean, it kind of reads like a bit of an adventure.”

Charles discussed the evolution of Faux's perspective from a seemingly innocent article about Sam Bankman-Fried to a more critical stance, especially regarding FTX's legitimacy. The conversation touched on the author’s initial portrayal of FTX as a “thought experiment”, later questioning its potential scam-like nature.

A discussion on Tether's central role in the crypto world surfaced, with Brendan raising concerns about Tether's backing and its potential impact on the overall economy. He emphasized that Tether’s $68 billion valuation should have corresponding funds in a bank account. They discussed the suspicions surrounding Tether's operations, with concerns about its actual reserves and its role in market manipulation. “I suspect and a lot of people in the BSV community as well, that Tether, there’s not much money there at all,” Brendan asserted.

Jack meanwhile argued that regulators should focus on auditing the trading practices of platforms like Binance and Bitfinex rather than questioning Tether's reserves. “What they need to audit is not what's backing the treasure chest. They need to audit how the treasure chest was obtained, which means they need an audit of Binance. They need an audit of Bitfinex and an audit of Tether to find out what trades were being made, how they were being made, and what dirty people they were trading with, and how they were manipulating prices to basically make themselves all that money.”

The conversation turned to the NFT craze, with Jack criticizing the quality of the digital assets. “I think the funniest thing about the NFT craze is the levels of ideocracy behind it. So first of all, the pictures themselves aren't even on the Ethereum blockchain. And yet the funny thing about these NFTs is they have to be really low 1980s quality pictures.”

Brendan brought up the exploitative nature of some artists profiting from NFTs. “I was reading about these people who were creating NFTs and they were paying the artists, like $10 to create all of this material and then going and making $10 million from selling them. It's not just lazy, but it's exploitative.”

They proceeded to discuss a section of Faux's book, which delves into the bizarre world of Bored Apes and how Faux risked $20,000 of his own money to purchase an Ape, with the goal of gaining access to an exclusive party and later selling the digital asset. The Bored Ape phenomenon represents the broader NFT craze, as discussed by the participants. They critiqued the low-quality, pixelated images of these digital assets. “I find the whole Bored Ape kind of hype cycle which I think really has largely ended now seems to be one of the strangest things that's happened in crypto,” Brendan noted.

A significant part of the book explor

VX Technologies Executive Director of Global Partnerships, Catherine Lephoto, is no stranger to the world of blockchain and digital innovation. In 2022, she sat down with Charles Miller on the sidelines of the BSV Global Blockchain Convention in Dubai to discuss VX Technologies and its blockchain-based solutions on CoinGeek Conversations. This time, Catherine is back to shed light on Alpha DAPP, the flagship product of VX Technologies, which has the potential to be a game-changer not only for Africa but for countries worldwide.

Alpha DAPP, as the name suggests, marks the start of decentralized applications (DAPP). As Catherine explains, Alpha DAPP which operates on the BSV blockchain aims to harness the power of blockchain technology. However, what makes Alpha DAPP truly exciting is that it offers a user-friendly experience. “On the face of it, does not look like it's blockchain. It still looks very much like what people are currently accustomed to. So when they interact with the platform, they would not even know that they are actually working on a blockchain platform,” she notes.

Catherine recalls the challenges of explaining the concept of blockchain, especially the process of managing a 12-word seed phrase to access a blockchain account. As she points out, people are accustomed to creating an email account with a simple password that can be easily retrieved if forgotten. Alpha DAPP has addressed this by making blockchain technology accessible to any average person. “When I interact with it, it's like I'm interacting with any other app on my phone or on my computer. It's simple,” she says.

Catherine is keen to point out that VX Technologies is committed to upholding data sovereignty, ensuring that users maintain privacy and ownership of their data. “Our company is all about data sovereignty,” she asserts. Unlike traditional centralized platforms where data is often controlled by third parties, Alpha DAPP users have control over their data.

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Alpha DAPP has made the whole process user-friendly and familiar. Users can log in using a simple email address, eliminating the need to download wallets or remember complex seed phrases. A blockchain wallet will be assigned to each user, and in the event of a data loss, Alpha DAPP provides an option to retrieve the 12-word seed phrase.

“The idea is the privacy still remains yours, the sovereignty of the data, the ownership is still yours. But now what we have done is we have created the interaction, essentially the bridge to the blockchain in a manner that is familiar, which is using a simple email address to log in,” Catherine explained.

Catherine also discussed Alpha DAPP’s potential impact on education and employment recruitment and the role it can possibly play in these sectors. With academic records stored on Alpha DAPP, graduates can present a QR code during virtual interviews, enabling employers to verify their credentials instantly. This streamlined process eliminates the need for graduates to travel long distances for interviews, especially in remote areas, reducing the financial burden and enhancing the efficiency of the recruitment process. According to Catherin, this approach can significantly address high unemployment rates in countries like South Africa.

Catherine also stressed that records must be issued by a credentialed authority to ensure trustworthiness. “With everything that we do, the record has to be issued by a credentialed authority,” she asserted. Students cannot simply create their own records, as this would risk compromising the integrity of the system. Instead, universities and educational institutions have a critical role to play in the issuance of records, which Alpha DAPP securely records on the blockchain.

Catherine highlighted the importance of the first customer and the value of reference

Headquartered in Dubai, Blockchain Smart Technologies prides itself as a global leader in “blockchain distribution”. The company set up shop in Dubai because of the city's early adoption of blockchain technologies. According to CEO Dr Eva Porras, this presented an excellent opportunity for the company to provide blockchain solutions across various sectors, starting with a particular project: "what brought us to Dubai specifically was our willingness or interest in helping the airport make better use of their runways," Eva noted.

Speaking on this week’s CoinGeek Conversations, Eva explained that her role extends beyond Blockchain Smart Technologies as she is also the managing director of SmartLedger. Despite offering similar products and solutions, she clarified that the two companies are separate entities.

"These are two independent businesses, totally independent," Eva said. Yet, as she points out, most partners are involved in both companies, sharing a common vision and passion for blockchain technology. For Eva, this allows for seamless collaborations on a range of projects and solutions while at the same time, building a robust blockchain ecosystem.

Blockchain Smart Technologies has developed a variety of consumer-focused apps designed to address specific needs and provide real-world solutions to users.

One of these, TicketMint, offers a service that issues tamper-proof tickets. "The customer is the owner of the event, and we provide the certificate that not only cannot be forged but can also serve various purposes for the event owner," Eva explained.

Eva and her team took a “horizontal” approach, expanding their solutions across different sectors.

Beginning with TicketMint, they developed various products and services, including wallets and solutions for artists' intellectual property rights.

Eva's academic background adds a unique dimension to her role as an entrepreneur. Her two-volume book, Bubbles and Contagion in Financial Markets, explores the dynamics of market bubbles, emphasizing the impact of value and contagion on market behavior.

Eva discussed how her academic perspective gives her an advantage in understanding market psychology and activities – particularly those of unscrupulous players in the ‘crypto’ market: "I can see them planning, setting their business to steal money from other people or to run these rumors that will confuse those who are less used to this type of scenario".

For Eva, the utility of blockchain technology is more important than the speculative price of cryptocurrencies. She highlighted the importance of small token values in promoting the growth of the blockchain ecosystem. Smaller token values allow for faster, high-volume transactions, making blockchain technology more efficient.

"I think this is the one technology that is going to allow the next revolution. Without these, there is no revolution," Eva said.

While some individuals in the Bitcoin SV blockchain community are hoping for an increased value of its token, Eva believes that the true wealth generated by blockchain technology comes from its utility and transformative power.

"I don't think they really understand the implications. The value of each token has to be the driver of the value that this token provides to the ecosystem," Eva noted.

Eva's vision for the future is to create solutions using blockchain technology. She expressed enthusiasm for projects that can make a profound difference in people's lives, such as identity verification and solutions for refugee camps. In these areas, Eva sees the potential to simplify and improve the lives of millions.

Chatbots have been a staple of the digital landscape for years, offering solutions to queries, performing tasks, and even providing companionship. But the game is changing. At the London Chatbot Summit, a gathering traditionally focused on chatbots, this year's focus was artificial intelligence (AI). CoinGeek Conversations host Charles Miller had the opportunity to delve into this transformative shift and interview two prominent attendees, Craig Massey and Professor Elizabeth Stokoe.

Craig Massey, a serial entrepreneur, previously the founder and chairman of Block Dojo, has now ventured into the realm of AI with his new incubator, AI Forge. He says Block Dojo had a significant impact on the blockchain industry, accounting for 24% of all blockchain start-ups in 2022. Despite this, Craig decided to embrace AI with his new enterprise: "we've taken all the learnings from the blockchain incubator and transposed them into an AI incubator."

Massey discussed the appeal of AI to corporates, emphasizing the differences in enthusiasm. While blockchain faced internal conflicts and scepticism, AI is met with eagerness. The AI technology complements blockchain in areas like content creation, rights management, and combating fake news, adding a layer of rigor. It also streamlines back-office processes within corporations, making them more efficient and less bureaucratic.

With AI Forge's commitment to business-to-business solutions, it's no surprise that they've been attracting corporate interest. As Craig Massey mentioned, "We had 324 applications into cohort one. We've already surpassed that for Cohort two." This overwhelming response demonstrates the growing interest in AI and AI Forge's initiatives, he says.

Massey's words also shed light on their rigorous selection process, with a final 30 contenders facing a judging panel that includes luminaries like the head of AI for Google and Meta as well as AI founders with successful exits. AI Forge's approach seems to be resonating, as Massey explains: “the applications we've had are clever, more product-oriented". The focus on productization and collaboration with interested corporates, signing letters of intent and pursuing proof of concepts, reflects AI Forge's proactive approach to creating solutions that could lead to quick acquisition, suggesting future trade sale exits, potentially in the range of £30 to £40 million.

Massey hopes that blending AI with blockchain creates a synergy that could redefine industries. As he notes, "for me, they're not like two separate technologies. They're a perfect marriage." This intersection promises a bright future where chatbots powered by AI become smarter, more intuitive, and deeply integrated into our daily lives.

Still at the London Chatbot Summit, Charles embarked on a quest to unravel the enigmatic world of AI-driven chatbots. Inspired by the potential of AI Forge's startups, he delved into questions that seems to hover over this dynamic field: can AI-powered chatbots ever match the conversational finesse of humans? Are these bots capable of rivalling human interactions?

Charles turned to the expertise of Professor Elizabeth Stokoe, an authority in the science of conversation. On the relevance of her field to the chatbot industry, Professor Stokoe stressed the need to analyse whether chatbots genuinely engage in conversations by leveraging research on human interaction.

When discussing her methodology, Professor Stokoe explained how conversation analysts like herself rely on recordings of real-life interactions, avoiding simulations or interviews. They focus on what unfolds in the actual interaction, including the moments of engagement and disengagement. She recounted a study that revealed the architecture of initial inquiry calls to community mediation services, highlighting key points t

Yves Mersch, a former governor of the Central Bank of Luxembourg and member of the executive board of the European Central Bank (ECB), recently shared his valuable insights on the world of cryptocurrency, its regulation, and the distinct significance of Bitcoin SV. In a candid conversation with Charles Miller on CoinGeek Conversations, Yves provided clarity on these complex topics in a straightforward yet insightful manner.

The Role of Central Banks

Yves began by emphasizing the important role of central banks in safeguarding a nation's currency. He stated, "as a regulator, the ECB has a mandate to defend a currency which is supposed to be stable." Central banks like the ECB are entrusted with the responsibility of ensuring the stability of their respective currencies and facilitating secure and efficient payment systems.

Embracing Technological Innovation

In the realm of financial innovation, Yves highlighted the positive stance of central banks. He explained, "the ECB has always considered innovation in the financial area as something positive because the ECB is supposed to work in a functioning market economy." The pursuit of technological advancement to enhance competitiveness and support economic growth has been a consistent focus for central banks.

Balancing Innovation and Risk

Yves pointed out that any financial innovation, including cryptocurrencies, is subject to careful scrutiny. "ECB has all the ways to analyze what are the potential benefits for society at large and for the institution, and what are the risks that come with these benefits." Central banks must assess the potential benefits to society and the institution against the associated risks.

Unique Risks in the Crypto World

Yves noted the distinctive risks posed by the crypto world. He stated, "you rely on the technology which is highly decentralized and where you have risks which are also risks that you find in the traditional financial world." Additionally, the crypto world introduces governance risks due to its lack of a clear liability structure. These governance issues add to the traditional financial risks inherent in any financial instrument.

Challenges in Global Regulation

Addressing the subject of global cryptocurrency regulation, Yves acknowledged the problems, saying, "unfortunately, this is very difficult." He explained that international bodies like the Financial Stability Board, G20, and others issue recommendations rather than binding regulations. Jurisdictions are encouraged to implement these recommendations in their national legislation but achieving a universal, comprehensive regulatory framework remains challenging.

Systemic Risks Posed by Tech Companies

Yves delved into the potential risks of major tech companies launching successful cryptocurrencies. He noted that these entities, due to their substantial customer bases, could influence monetary policy through their stablecoins. "That could distort the monetary policy transmission mechanism," Yves cautioned. Without direct access to central banks, these companies would rely on intermediaries for liquidity, potentially disrupting monetary transmission.

Role of CBDCs

The topic of Central Bank Digital Currencies (CBDCs) also came up in the conversation. Yves clarified that CBDCs are designed to complement existing financial instruments rather than replace them. They aim to provide central banks with a digital presence while retaining the fundamental attributes of cash in a digital form.

The Bitcoin SV Distinction

In the midst of this insightful conversation, Bitcoin SV emerged as a prominent player. Yves Mersch's perspective sheds light on the unique attributes that make Bitcoin SV stand out in the ever-expanding world of cryptoc