Cryptocurrency exchanges are increasingly integrating themselves into the financial market, and some say they could completely take it over. While other professionals disagree, it’s certain that blockchain is disrupting the market. Zahreddine Touag, Head of Trading at Woorton, led a panel with 4 industry experts to discuss how exchanges are democratizing digital assets and what this means regarding regulations, collaborations, and innovation in the space. The panel consisted of the following professionals: Wei Zhou, CFO of Binance Rahul Khanna, Former CEO, Europe at Bithumb Yoni Assia, CEO and Founder of eToro Edward Woodford, CEO of SeedCX The discussion led to some interesting predictions about how exchanges are going to transform the financial ecosystem. Below are some key excerpts from the panel: The problems with regulations in the exchange space Solutions to prevent wash trading How can exchanges improve the industry’s reputation? How are cryptocurrencies going to become normalized? How can exchanges collaborate with banks, and what are the benefits? Is blockchain eventually going to “kill” banks?

1. www.pbwsummit.com
Featuring:
Wei Zhou, Binance
Rahul Khanna, Bithumb(as of 2019)
Yoni Assia, eToro
Edward Woodford, SeedCX
Moderated by Zahreddine Touag, Woorton
Insights from the PBWS 2019 Panel Discussion
The Role of Exchanges in the
Democratization of Digital
Assets

2. www.pbwsummit.com
Summary
The problems with regulations in the exchange space
Solutions to prevent wash trading
How can exchanges improve the industry’s reputation?
How are cryptocurrencies going to become normalized?
How can exchanges collaborate with banks, and what are
the benefits?
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3. THE PROBLEMS WITH REGULATIONS IN THE
EXCHANGE SPACE
Wash trading gives newcomers a false idea
about what which exchanges to join, causing
many of them to lose money.
Rankings don’t necessarily show the true value
of coins.
There is too much variation between countries.
There is a need for a standard regulation
system across countries and new third party
regulators that are experts in crypto technology.
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4. SOLUTIONS TO PREVENT WASH TRADING
Across the board, the panelists saw a need for
more regulations to prevent wash trading,
particularly on ranking sites such as
CoinMarketCap.
Potential solutions include chain analysis, an
increase in third party regulators, and more
punishment for wash traders.
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5. HOW CAN EXCHANGES IMPROVE THE
INDUSTRY’S REPUTATION?
Cryptocurrencies are still relatively new
compared to financial institutions that have
been around for over 700 years.
Therefore, we have yet to see how drastically it
will change the financial space.
The experts are optimistic that blockchain will
revolutionize the financial ecosystem, even if
there is some uncertainty about how or when.
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6. HOW ARE CRYPTOCURRENCIES GOING TO
BECOME NORMALIZED?
There is an opportunity to use blockchain in
creative ways to show new consumers that it
can become a part of everyday life.
Some companies are using blockchain for social
causes (for example, Binance’s Blockchain
Charity Foundation uses blockchain to instantly
feed children in Uganda).
Others are transforming into fintech giants to
completely change the financial service
landscape.
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7. HOW CAN EXCHANGES COLLABORATE WITH
BANKS, AND WHAT ARE THE BENEFITS?
Banks are becoming more willing to incorporate
blockchain solutions into their business models,
although the integration has been quite slow.
Companies like eToro and SeedCX have
successfully collaborated with banks.
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8. This is just a preview, want more?
Come to PBWSummit in Paris on December 9-10 2020 to
meet our outstanding speaker lineup.
www.pbwsummit.com