Cryptocurrency, such as BTC, is a useful investment in that it shows low correlation with other existing assets, said Hyoungwon Choi, Director of Binance Lab.
At the Korea Blockchain Week(KBW2019)’s main conference in South Korea, held in Seoul, Oct. 1, Choi said crypto is connected around the world, and it has its own native earning structure. “Traditional venture capital investment and crypto investment are fundamentally different,” she added.
“Binance Labs is particularly interested in investing in Latin America and Africa, where traditional venture capital was less accessible,” Choi explained. “On this area, BTC is already being used as a means of paying, remitting money and storing values,” she said.
“There are creative and highly technical people in North America and Europe with many platform-based businesses, and traditional companies in Asia that focus on applications are expressing interest in crypto,” said Choi.
“An era should come when friction disappears from the financial system,” said Choi. “Institutions that carry out long-term investments are trying to enter this market. They’re interested in open finance.