Yasen Yankov from Paysafe Group Names the Three Things Needed to Put Cryptocurrency on a Mass Scale

Yasen Yankov, Engineering Manager at Paysafe Group, shares his views on the barriers to the mass adoption of blockchain and cryptocurrency and explains his attitude towards the ICO boom.

The mass adoption of cryptocurrencies is one of the hottest and most discussed topics at the NEXT BLOCK conference in Sofia today. All speakers have had something to say on the subject and have given their personal take on the situation.

Yasen Yankov,  an Engineering Manager at Paysafe Group, believes that we do not have to fight the regulators, we need to embrace regulation as that's the only way towards a more mature industry.

"In order to have the mass adoption you need to have three things: the first is shared KYC all over the ecosystem, the second one, the shared payment method and payment gateways which connect fiats to crypto; and the third one there shouldn't be a guy who is asking the question what was that crypto thing," Mr. Yankov explained.

Large crypto companies like Coinbase, Circle, and others are growing their user base rapidly and sooner or later they will come to a point where people will need to start sharing their identities to send money quickly and efficiently,  he believes.

Speaking about ICOs, Mr. Yankov said that they helped level the investment playfield and opened up endless opportunities for small retail investors.

"For me, ICOs actually enable customers to do something which was not possible before. It is definitely a good thing because if you think about how it was super hard to invest in anything if you are not an accredited investor, if you are not in the investment business. ICOs actually changed that," he said.

ICOs are considered to be risky as most of them fail, which leads to unhappy consequences for investors. However, it's a natural way of industry evolution, and that's how the world of investment works, Mr. Yankov explained.

NEXT BLOCK conference is featuring a fantastic selection of speakers and exciting discussions, that provoke thinking and lead to interesting revelations.

You can watch NEXT BLOCK live via the stream below.