The cryptocurrency market is receiving another financial expert from PayPal. David Sacks, the former COO of the public financial services company has decided to join 0x’s advisory board. Mr. Sacks is the founder of Craft Ventures, a company that invests in new startups.
New Experts Join the Cryptocurrency World
Sacks has also co-founded Harbor—a company aiming to help traditional firms move towards virtual currencies in a fast and easy way. Mr. Sacks joining 0x’ board comes after the company’s partnership with Harbor. Both enterprises want to create an industry standard for security tokens.
Josh Stein, Chief Executive Officer of Harbor, commented:
“0x and its growing network creates the opportunity to connect buyers and sellers around the world. By tackling the regulatory compliance challenges of tokenizing private securities, Harbor makes it easy for issuers and investors to abide by existing rules and regulations across jurisdictions.”
Sack has been supporting virtual currency adoption and expansion around the world. Earlier, he hypothesized that one of the first industries to adopt cryptos would be the real estate. In these currencies, he sees the advantages of speed and low fees.
Around the world, there are different examples of how the real estate industry can completely change with virtual currencies. In Argentina, for example, there are some companies already accepting crypto transactions for properties.
0x explained that their association with different companies to expand adoption is related to their secure trading protocol. Additionally, 0x works in a different way than Bitcoin. It has isolated nodes for information and data storage.
Will Warren, CEO of 0x, explained:
“In the next five years, there will be a massive shift away from securities being in closed systems that are highly regulated and hard to access. It will be a much more open system where the trading location is less important. But for this to happen, there needs to be a security token tech stack.”
Some days ago, the trader Yasuo Matsuda left Deutsche Bank and joined the FXcoin project. The information has been reported by Bloomberg on September 3.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.