Catherine wood: "Digital wallets and blockchain will radically change the world of finance" – Bits Media

ARK Invest CEO considers, that digital wallets and blockchain technology are innovations, which change the rules of the game in the financial sector.

Catherine wood (Catherine Wood) In her publication reported, that last year's fluctuations in the stock market occurred in connection with "Buried inflation and increase in interest rates". However, the stock market in vain ignored some innovative technologies. The general director is convinced, that cash and credit cards are about to be replaced by digital wallets-in 2021 the year on them had to 50% international trade operations.

Katherine Wood believes, that the situation with the FTX cryptocurrency exchange did not affect the mission of the main cryptocurrencies, Since in the networks of bitcoin and etheriums around the clock and uninterruptedly transactions are made. Transparency, as well as decentralization of distributed registers, The head of the investment company emphasized, can solve the problem of fraud and negligence with the appeal of financial resources, which often happens in organizations with centralized management.

FTX collapse taught cryptocurrency investors more carefully approached the choice of services for storing crypto assets. The head of Ark Invest was referring to Theblock's data, according to which the volume of trading on decentralized exchanges increased with 8.35% to 11.4%. At the same time, the total trading volume on crypto -streaks decreased 66% In the annual calculus, from $1 trillion in 2021 to $357 billion in 2022 year.

Wood added, What kind of mine 30 years of work in investment management, she has never encountered such unstable conditions. There is a decrease in the money supply in the market, Since investors hold large amounts of cash, What has not happened since the crisis 2001 of the year. However, the latest technologies, such as blockchain and artificial intelligence (II), are popular even in troubled times.

Recently Katherine Wood said, that the former CEO of FTX Sam Bankman-Fried (Sam Bankerman-Fried) does not like bitcoin for decentralization and impossibility of control. Previously, Wood suggested, that the capitalization of bitcoin can achieve $4.5 trillion, since it will be more valuable, than fiat currencies.