Wenkleworth Brothers: Four major technology companies will do cryptocurrency projects in the future

The Wenkleworth brothers once again expressed optimism about the cryptocurrency.

Despite the intricate relationship between Tyler and Cameron Winklevoss and Facebook (the Winklevos brothers got the price compensation for Zuckerberg in the name of FB). But they are positive about the technology giant's bet on the cryptocurrency Libra.

Libra

In an interview with CNBC, Taylor said:

“Libra is very good for cryptocurrencies. When a company like Facebook talks about cryptocurrencies, the word is no longer mysterious, making everyone feel more comfortable.”

It is reported that the twin brothers had discussed with Facebook before Libra official announcement. They said that other technology giants are expected to launch similar products.

Taylor said:

"We predict that in the next two years, the four major technology companies FANG (Facebook, Amazon, Netflix and Google) will launch some form of cryptocurrency project."

Facebook CEO Mark Zuckerberg and his team will participate in congressional hearings next week. When asked what Facebook should do for this and what advice they would offer, Taylor said the key is to work with legislators.

“Working with regulators. Communicating with them. We have taken a step forward. We try to get more information from regulators to regulate in a more comprehensive way, because if supervision fails, it can stifle innovation, but correct regulation Can promote the flourishing of innovation, we believe that we have achieved the right balance with New York."

As for whether they will use Libra, there is no definitive answer. Cameron said:

“We will continue to evaluate, but at Gemini, we will seek permission, not tolerance, which is our guideline, from the first day of establishment.”

Facebook’s announcement of Libra’s news has made people wonder whether this will intensify competition with the Wenkleworth brothers. Since 2014, the Wenkleworth brothers have been trying to bring new cryptocurrency products to market. Some analysts point out that Libra is similar to Gemini's stable dollar launched last year.

Taylor said:

“In fact, we think this is a very interesting comparison. As we know, Libra is like a basket… it is tied to a lot of stable assets, and Gemini's stable currency is only linked to the US dollar, so we think these two The tools have application scenarios, but they are not antagonistic. I think Bitcoin and Libra trading pairs or Libra and GUSD trading pairs will be very interesting."

They will continue to focus on building Gemini to achieve better growth in this increasingly competitive field. Gemini recently dug five engineers from rival Coinbase and set up a new office in Chicago.

Cameron said:

"(Our goal) is expansion, global expansion… We will continue to develop our mobile app and possibly add more assets by the end of the year."

As for their views on Bitcoin, the twins said that even with the stable currency such as Libra and JPMorgan Chase's own digital currency, they still see potential opportunities.

Taylor said:

"Our view is that Bitcoin is the 2.0 version of Gold, so before its market value reached $7 trillion, the market value of gold, it is an undervalued asset, so I think people are gradually becoming aware of it. at this point."