Forbes India Showstoppers 2022-23

Circle CSO believes that the crypto future will be handled by steadier hands

Dante believes that responsible competition will shape the future in countries that allow it

Shashank Bhardwaj
Published: Jan 3, 2023 02:36:19 PM IST
Updated: Jan 3, 2023 03:00:25 PM IST

Circle CSO believes that the crypto future will be handled by steadier handsImage: Roy Rochlin/Getty Images for Unfinished Live

Dante Disparte, the head of global policy and the chief strategy officer of Circle, has said that the downturn in the crypto sector in 2022 may herald the transfer of crypto technology to more enduring companies and "steadier hands" in 2023. Dante took to his official Twitter account to state,

"Happy New Year! Following an annus horribilis for #Crypto in 2022, now more than ever demonstrable utility value is the order of the day. Sharing my @wef #WEF23 reflections on what the future holds and how @circle is navigating turbulence."

Dante believes that responsible competition will shape the future in countries that allow it. Despite the significant harm that cryptography and blockchains have caused when misused by the wrong people, these tools will remain essential components of the modern economic toolkit.

He went on to say that, like the failure of FTX, all "crypto" losses caused by criminality, or fraud, to the bottom regulatory arbitrage, should be categorically rejected, prosecuted and consigned to history. If policymakers, legislators, and regulators do not act on their own calls for a digital asset rulebook, the next crypto crisis may not be as easily contained in the real economy.

Disparte further highlighted the growing use of crypto in the financial services sector in an article for The World Economic Forum (WEF). He suggested that the ongoing bear market and exchange collapses may turn out to be a blessing for the crypto industry. This may open doors for "responsible, always-on internet finance." He said,

"Just as it took the dot-com bubble bursting in the early 2000s to hand over the future of the internet to more durable companies, business models and use cases, perhaps 2022 marks a handover of crypto technology and blockchain infrastructure."

Furthermore, in a January 2 opinion piece for the Diplomatic Courier, Disparte doubled down on his stance, calling it "disingenuous" for bankers to criticise crypto with one hand while attempting to co-opt its innovations with the other.

Shashank is founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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