The Winklevoss twins recently made an appearance at SXSW Interactive 2016 , where the early Bitcoin adopters discussed how the industry has changed and matured over the past three to four years. The keys points made by the Winklevi in terms of Bitcoin’s maturation had to do with clearer regulation, better protections for consumers and the increased availability of professional-grade exchanges.
When asked about how Bitcoin has grown as a technology and an industry over the past few years, Cameron Winklevoss said, “I think Bitcoin still does what it has done since day one. I think probably the biggest change is really the types of people building inside the system today.”
Bitcoin Companies Are Now Protecting Consumers
One of the major signs of maturation in the Bitcoin industry has been the creation of regulated exchanges. During his appearance at SXSW Interactive 2016, Cameron Winklevoss, who co-founded the Bitcoin exchange Gemini with his twin brother, Tyler, stated: “With Gemini, we’re a regulated trust company in the state of New York; we’re regulated under banking law, so we operate and have the same controls and procedures that you would expect of any financial institution (like your bank). That didn’t exist in the early days of Bitcoin. Quite frankly, it didn’t exist a year ago . . . It was a Wild West in the early days.” The Winklevoss Twins are of the belief that the existence of regulated exchanges will calm some of the fears institutional investors have when it comes to speculation on the Bitcoin price.
Cameron Winklevoss noted: “You’re seeing a lot of the same kind of consumer protections in things that you see in other financial areas that are regulated coming to Bitcoin. What that enables is getting people comfortable buying and selling Bitcoin, especially from both the individuals to […]
