To add to your point Paul re: finance not being interested i read this interview by Nikhilesh De from Coindesk and Adewale Adeyemo the United States Deputy Treasury Secretary.
Nikhilesh De:
Are there any ideas, tools or projects in the sector that you're really paying attention to, that have your interest on a personal level?
Adewale Adeyemo:
I think the thing I'm paying attention to in this space, and the same thing I'm paying attention to, across the financial sector in general, is, what can we do in terms of financial inclusion? It's a major issue for me, not only internationally, I mentioned Afghanistan. But even think about here in the United States, there are so many places where you don't have access to finance. I think the question is, “how do we make the payment system more efficient and effective going forward?” I think the key is going to be how do we ensure that as more people participate, you have the right types of consumer protections in place, and you have the right types of transparency.
Ultimately, you want to be able to provide remittances at far lower cost to people. I know that there are communities all over this country where people are sending money back to families and other countries, and they are being charged a great deal of money to do that. What we can do to reduce the frictions and the cost and that space, I think it's critical. It's also critical in our country to think through how we can use digital assets to reduce the cost of transacting here. So those are the things that I'm paying the most attention to.
On a personal level my partner has used crypto to send money to her family overseas as it is cheaper than the traditional way.
Nikhilesh De:
Are there any ideas, tools or projects in the sector that you're really paying attention to, that have your interest on a personal level?
Adewale Adeyemo:
I think the thing I'm paying attention to in this space, and the same thing I'm paying attention to, across the financial sector in general, is, what can we do in terms of financial inclusion? It's a major issue for me, not only internationally, I mentioned Afghanistan. But even think about here in the United States, there are so many places where you don't have access to finance. I think the question is, “how do we make the payment system more efficient and effective going forward?” I think the key is going to be how do we ensure that as more people participate, you have the right types of consumer protections in place, and you have the right types of transparency.
Ultimately, you want to be able to provide remittances at far lower cost to people. I know that there are communities all over this country where people are sending money back to families and other countries, and they are being charged a great deal of money to do that. What we can do to reduce the frictions and the cost and that space, I think it's critical. It's also critical in our country to think through how we can use digital assets to reduce the cost of transacting here. So those are the things that I'm paying the most attention to.
On a personal level my partner has used crypto to send money to her family overseas as it is cheaper than the traditional way.