Crypto Expert: Bitcoin is More of a Collectible

Dec 28

The co-founder of crypto security firm BlaKFX says that Bitcoin was a great proof of concept and will be around for a long time, but it’s more of a collectible. “You need to have common liquidity pools,” says Kara Coppa, BlaKFX co-founder, and COO. “If you can’t move your money from fiat to crypto and move it into ecommerce to purchase something it’s really useless.”

Kara Coppa, BlaKFX co-founder, and COO, discussed the cryptocurrency and her companies efforts to ensure its security in an interview on Fox Business:

The Biggest Heist in World History

We all thought Bitcoin was going crazy, but cybersecurity issues were a big problem this year. There was $1 billion lost in 2018, the biggest heist in world history, in humanity. There are a lot of issues with blockchain, it is a new technology. However, BlaKFX has uncovered many issues and we have 18 plus patents pending, lots of solutions to fix all those problems and make it secure.

We are working with the governments right now, especially in Malta where Blockchain Island is. We are helping them to create cybersecurity regulations to ensure that there is no theft and to make sure that we can move forward with this as a currency in the future.

As we see more asset-backed tokens, tokenizing highways, buildings, sports teams, and fractionalizing different types of assets to so that others can get involved, it can go mainstream but it has to be secure.

Governments Coming on Board with Cryptocurrencies

I think in 2019 we will see governments start to come on board and launch their own cyrptocurrencies. Dubai for example, by 2020, their initiative is to have their entrie government on blockchain.

Once you do make it secure you don’t have to have it annonomous. You can have governments part of that bigger picture. When you bring in banks and governments into this cutting-edge technology it goes a long way. I think that is also another prediction for 2019, we will see a lot of alliances.

We will see the government sector coming in together, different exchanges and cybersecurity companies coming together to make it a better, tighter technology.

Bitcoin is More of a Collectible

I think Bitcoin was a great proof of concept and I think it will be around for a long time, but it’s more of a collectible if you well. You need to have common liquidity pools. If you can’t move your money from fiat to crypto and move it into ecommerce to purchase something it’s really useless.

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