(Kitco News) – The British pound has fallen 16 percent against the US dollar for the year as the UK economy grapples with an energy crisis and high inflation. These events show exactly why cryptocurrencies are so beneficial, according to Jessica Walker, chief marketing officer at Fluid Finance.
“There are major concerns right now about the security of people’s own fiat currency and their own country’s coin,” she said. “Being able to diversify and have options other than fiat is really important now more than ever with so much geopolitical uncertainty.”
For Walker, that diversification comes in the form of Bitcoin, Ethereum, and other projects.
“I invest dollar cost average in bitcoin, ethereum and then look at projects that I really believe in,” she said. “I always enjoy going to conferences to meet the team.”
Walker spoke with David Lin, Anchor and Producer at Kitco News, at the Future Blockchain Summit in Dubai.
The Canadian government’s crackdown on trucker protests, which has frozen bank accounts and jailed protest leaders, underscores the need for decentralized money, Walker said.
“It was a pretty scary time, and if anything, it was a pro-decentralization advocate,” she said. “That’s why we need Bitcoin. That is why we need currencies that governments cannot control.”
However, in terms of serious crime, Walker hinted that cryptocurrencies are not the best way to engage in illegal activities.
“Everything is in an open public ledger,” she said. “Cash is so much more of a dirty secret than cryptocurrencies in the land of assets. With cryptocurrencies, you can see and check how money has moved everywhere.”
As regulators understand cryptocurrencies and clarify the rules around them, it will “help the industry grow,” Walker said.
“We are currently based in Dubai and Dubai regulators work fairly well with cryptocurrency exchanges,” she said. “The case law is trying to move and integrate cryptocurrencies in a progressive and positive way.”
She pointed to recent crypto crashes, such as the Celsius bankruptcy and the UST/Luna crash, emphasizing the need for better regulation.
“We started the year with the Celsius edition,” she said. “We then went through and saw the situation of UST and Terra. So there are certainly questions about algorithmic stablecoins… I think there are questions that regulators want to ask.”
To find out Walker’s Bitcoin outlook, watch the video above.
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