Now we’re seeing the results of over 500 years of institutional centralization, and there are big gaps and discrepancies in terms of wealth distribution and access to financial services. Vlad: Let’s begin by talking about the Milken Institute conference: would you please do a brief recap of the arguments you presented throughout the 1-hour debate?Īlex Mashinsky: I strongly believe that we find ourselves in the middle of a fight between centralization and decentralization. The following lines are an adapted transcript of the most interesting ideas presented throughout the dialogue. He was nice enough to have a 40-minute conversation with me on Skype about MoIP (ironic, because Skype is also founded upon VoIP). Mashinsky one-on-one, and understand his rationale in a more private context. The Celsius platform will offer crypto-backed loans, and provide annual interest in the form of CEL tokens for simply using it to store your bitcoin & ether.įeeling intrigued by these bold promises, I decided to interview Mr. We can all contribute to the dawn of crypto banking with projects like Celsius. A single blockchain-based killer app could usher in a tremendous wave of crypto users. Two decades later, he’s certain that the same kind of evolution will happen in the financial system by virtue of cryptocurrency, thus establishing the world of MoIP (Money over IP). It is now used by over a billion people across the globe.
In the 1990s, when Alex invented VoIP (Voice over Internet Protocol), he strongly believed that internet calls through a decentralized protocol could disrupt the business model of phone companies. He recently had the ICO for his crypto lending platform Celsius Network, but his involvement in the tech world dates a few decades back. dollar, and the future of technological innovations, watch the video above.During the recent Milken Institute conference debate, Alex Mashinsky really stood out as a harsh critic of the traditional banking system, and a strong believer in the future of cryptocurrency. So, we have several scenarios here and we have to watch very carefully what happens with each print each month and make decisions based on that.”įor Mashinsky’s outlook on gold, Bitcoin, the U.S. “And, if the opposite…if the Fed decides that inflation is not an issue and they can accommodate longer, then all asset prices are going to go up. But, if we have single-digit inflation and the Fed is fighting it, then all assets are actually going to lose value because everybody is going to be hurting,” he said. “If there’s a lot of volatility because inflation is out of control the double digits then gold and Bitcoin are going to become safe assets. The key is to look at which economic scenario is most likely to play out and act accordingly. 2022 will be a year of heightened volatility from growing fears of the latest Omicron variant, as well as rising inflation, and the chance of monetary tightening from the Federal Reserve, said Alex Mashinsky, CEO of Celsius Network.
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