- I don't think CoinJolt is a perfect solution that instantly opens the flood gates to institutionalization of Bitcoin after we had the futures contracts.
- Which are robust derivative products.
- Now we're seeing large banks roll out trading desks, particularly Goldman Sachs.
I'm going to expect other banks will follow as well, and they're not going to follow just because it's Goldman Sachs and that's what a lot of banks do is follow what Goldman does, is because this market is so large that you can't ignore it anymore. I'm sure most of these banks have heard about these numbers that can overtake some of Wall Streets biggest banks if they don't get in the market.
In terms of institutional investment the biggest problem that needs to be solved, is custody. Goldman is rolling out a trading desk that will only be touching derivative products but longer term they'll be underlying product, the actual Bitcoin and so a big piece of solving that problem is custody. This became a very well known problem in 2017, if things were going to remain the same who's able to invest, where institutions are right now, where does Bitcoin go? If they solve the custody problem where will Bitcoin be and what role will CoinJolt play?