Episode 66 (podcast)Finance 2.0 with Edward Woodford
Every week we bring you the latest market insights about alternative investments from subject matter experts. You can subscribe on Apple Podcasts, Spotify, YouTube, or wherever podcasts are available so you don’t miss an episode.
You can listen to this episode below.
What will it take to make cryptocurrencies a part of the average consumer’s everyday life? In this episode of The Yield, Peter Kerr, CFA is joined by Edward Woodford for a discussion on the financial system 2.0. Edward is Co-Founder and CEO of Zero Hash, a company empowering your favorite brokerage app or neo bank to offer BTC, providing the rails to the 2.0 payment processors, and giving platforms the ability to facilitate instantaneous cross border payments.
Crypto continues to find its way into nearly every financial conversation, and we’re getting closer than ever to making crypto accessible to anyone. And companies like Zero Hash are helping to make that vision a reality. With over 40 digital assets, Zero Hash has a broad product offering that has positioned them as a clear leader in the 2.0 payment processors world. They not only offer the ability to buy and sell digital assets, but their products also focus on the variety of options that are available to consumers. Included in these offerings are the recently announced options with digital coins, and the ability to issue crypto rewards when consumers swipe their credit or debit card. Edward calls it a massively growing part of the ecosystem at Zero Hash, and it doesn’t look like its popularity is going to be slowing down anytime soon.
The crypto space is also experiencing an increase in offerings at brokerage firms of NFTs, also known as collectibles, which Edward is bullish about simply because he’s bullish about the creator space. From tracking art to reducing fraud to assisting in the creator space, NFTs are creating opportunities that more and more investors want to be a part of.
But with tens of thousands of new currencies coming out each week, how can anyone make sense of which ones to follow? According to Edward, it has less to do with finding the perfect currencies and more to do with the thematic approach. You may find more success by identifying what assets meet your interests and focusing there rather than picking individual coins.
For the cryptocurrency-fluent, Edward takes a deeper dive into the details of the on-chain volume and burning ethereum, staking your assets, and DeFi protocols. He shares an overview of the risk-reward trade-off that comes with making any investments, especially when considering the pressures that exist in the market, and offers a comparison of staking and crypto-backing loans.
But will cryptocurrencies ever become a part of people’s everyday personal life outside of just being an investment? According to Edward, the US and Canada are within 12 months of having access to crypto through existing accounts. “Fundamentally,” he says, “crypto is a technology that can touch every part of everybody’s lives. And while that may not be the case, I think it will touch very large pieces of people’s lives, and it will fundamentally disrupt and change the way that we do certain things every single day.” Tune into this conversation for an exciting look at the ways that disruptive innovation is shaping Finance 2.0.