The Wild West Crypto Show Growing Mainstream Recognition of Dollar Alternatives Brings Excitement | CryptoCurrencyWire on The Wild West Crypto Show | Episode 132
Nov 5th, 2020
CryptoCurrencyWire Communications Director Jonathan Keim is a show regular, offering additional insights on crypto space news headlines from around the world. In this episode, Keim acknowledges new signs that alternatives to the dollar are gaining mainstream recognition.
When Cointelegraph reported that U.S. Currency Comptroller Brian Brooks stated that decentralized finance movements will spawn “inevitable” change and will render many of the services banks provide obsolete, “just as email disrupted the postal service,” Keim called it a sign that “everybody is waking up” to a fact that he and the show’s hosts have previously discussed many times.
“It’s just exciting when you hear people like Brian Brooks say these kinds of things. We’re seeing so much movement in this past year. It’s really insane. And not just here in the U.S. but abroad as well,” Keim added.
Keim also noted that the chairman of the U.S. Federal Reserve has said its financial institutions aren’t in a hurry to introduce central bank digital currency, which prompted Morgan Creek Digital co-founder Anthony Pompliano to argue that time is of the essence and if it doesn’t act “the U.S. is going to fall really far behind China because it all comes down to accessibility.”
“In our small town, we have a bank and a chicken place on every corner and a convenience store across the street. We’ve got plenty of all that sort of stuff,” Bates quipped. “The U.S. getting involved in this is going to help all those unbanked people and is going to help all these other economies by being able to provide liquidity and everything that the U.S. dollar and digital dollar could bring.”
Bates expressed excitement at news that crypto gaming pioneer Cloudbet is adding Pax Gold coin to its platform to make betting with gold backing possible in a first for the gaming world.
“You can’t carry all your gold with you. It becomes heavy and kind of hard to lug around,” Bates said. “You take that little thumb drive around with you, it could have a billion dollars or it could have 59 cents and everything in between. It’s so much more pragmatic for it to be digitized and to carry around a piece of it.”
Keim said what he finds so interesting is that there are so many alternatives to the dollar “springing up all over the place” as means for currency transactions.
“This world-first accomplishment is only feasible because a gold-backed crypto is easily divisible and easier to exchange,” he said.
The Wild West Crypto Show podcast appears online and in multiple markets across the country. Bates’ and Taylor’s purpose is to educate people about alt-currencies “so that they’re not afraid of it.”
To view the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring recent news from around the world, visit https://ccw.fm/YLUvo.