If you are only thinking about invest in cryptocurrency or blockchain technology, former US Treasurer Rosie rios says it's probably too late to get downstairs by now.
"The train has already left the station," says Ríos, who served as treasurer in the Obama administration from 2009 to 2016. CNBC do it. "Blockchain technology is here."
Ríos, a visiting researcher at Harvard University, has spent much of her post-government career around investing and cryptocurrencies. She is a board member of blockchain company Ripple, CEO of real estate investment consultancy Red River Associates, and an investor on the Amazon reality show. "Unicorn hunters"alongside co-stars Steve Wozniak and Lance Bass.
Based on those experiences, Ríos says he has advice for anyone looking to invest in blockchain-based platforms or assets like cryptocurrencies or NFTs: Stick to simple, basic questions like "Is the product practical?" or "Is there room for growth?"
Since many experts believe While assets like NFTs are just a speculative flash in the pan, Ríos says he will only invest in platforms that have growth potential and provide meaningful services or real-world value.
"The fact that there is intrinsic value is very significant to me," he says.
For her, that means understanding how it can be used "responsibly" and whether it can save her time or money in the real world. That's the main reason he joined Ripple's board, he says: Your cryptocurrency, XRP, announces the ability to facilitate cross-border payments faster and cheaper than traditional currency exchange services.
"It's not just the future," says Ríos. "It is already being used around the world."
Fundamentally, Ríos hopes that 2022 will provide more regulatory clarity for the cryptocurrency market. In November, a group of regulators, including the US Federal Reserve. saying that lawmakers plan to offer more clarity on how banks and other large financial institutions will be able to handle cryptocurrencies next year.
The need for clarity extends to Ripple, which is locked in an ongoing lawsuit with the Securities and Exchange Commission about whether the cryptocurrency XRP is a virtual currency or a security. The latest classification would require it to undergo more intense regulatory scrutiny.
Regulations aside, the cryptocurrency market is likely to continue to grow next year, after exceeding $ 3 billion in total value for the first time in November. Big companies like Microsoft, PayPal and even Burger King they already accept cryptocurrencies in some forms.
Others have already announced plans. Movie theater chain AMC says will soon accept bitcoins as payment for movie tickets, and WhatsApp says is testing a new crypto payments feature.
Ríos says he has "high hopes" that more great players will follow suit in 2022, or, at the very least, "have the right mindset to start these conversations and hopefully provide a path forward."
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