The Winklevoss twins, who recently hosted a Reddit AMA, say that they believe that stablecoins and tokenized securities are some of the most promising developments in the space.
The twins offered this opinion in an interview with Fortune’s Balancing the Ledger segment. The interview also covered their work with Gemini and the possibility of a Bitcoin ETF.
Real-world asset tokenization, such as that of art, gold and real estate, is an emerging trend in the space, of which the twins said:
The ICO mania of 2017 — we view that as the Pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized — like real estate, like buildings that are currently not traded in a really liquid fashion. So that’s exciting.
Tokenization permits fractional ownership, i.e. it allows multiple investors to buy a small fraction a property or work of art, lowering the barrier of entry for small investors and the masses on the whole.
Gemini Ramping Up Efforts
The Gemini exchange has been putting in a lot of effort to promote their exchange as a completely regulated entity that can avoids the problems that potential investors are worried about: security and volatility.
The idea is that companies that build on top of things like Bitcoin should have regulation that’s thoughtful and that doesn’t stifle innovation. People believe in the dream of crypto, they just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.
Last year, the Gemini Exchange launched its own stablecoin, called Gemini Dollar.
Stablecoins are widely used by savvy investors to beat the market’s volatility. Tether, DAI and Goldman Sachs-backed Circle’s USD Coin (USDC) are all popular stablecoins.
Long having held the view that Bitcoin is “digital gold,” the twins also said that Bitcoin would one day surpass gold in value.
Gemini’s extensive campaigning, its first marketing effort, coincides with the launch of their mobile app. The latter is very much intended for the individual who is interested in crypto, but unsure or unable on how to engage with it.
Such attempts to make crypto more accessible seem to be a very strong focus for Gemini and could pay off very well for the New York-based company.
