Once again, the Winklevoss twins are on their way to evangelize about the need for trust and regulation in the cryptology space while constantly advancing their exchange Gemini as a trusted third party vendor.
Both the mainstream and crypto currency media have extensively discussed the QuadrigaCX fiasco, alleging that the Executive Director of the Exchange purported to dispense with the sole knowledge of the private keys of the User Account Accounts platform. Not everyone is convinced that this is the case. However, many in the cryptocurrency space believe that the entire debacle – at least to some extent – is a hoax.
With the failure of Canadian exchange in everyone's mind, the Winklevoss twins are on their way to promote regulation and trust – and their own exchange – in an industry designed to eliminate trusted third parties.
References to notorious issues such as the failure of QuadrigaCX and the Gox disaster, Cameron Winklevoss said yesterday at the South by Southwest conference:
On the street of the crypt there are many carcasses from which we have seen and learned. At the end of the day it is really a trust problem. You need a regulation to get positive results.
He also stated that more control and regulatory compliance will bring Bitcoin's price back to a higher level. "They want a few shifts checks and balance," said Tyler Winklevoss. "We are here in the long run."
Of course, when Winklevoss says "you," we're not exactly sure he's talking about it you, For example, some of us at Bitcoinist are not interested in having a few layers of checks and balances – and we're there for the long haul.
What do you think about the statements of Cameron Winklevoss? Do you agree that Bitcoin and the wider cryptocurrency industry need more trusted third-party providers and regulatory controls and considerations – or do you agree that such views conflict with decentralization? Tell us your opinion in the comments below!
Images courtesy of Shutterstock.
The Post Winkevoss Twins champion "trust" and "regulation" after QuadrigaCX Debacle first appeared on Bitcoinist.com.
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