01/30/18 New Forms of Currency

David Drake, chairman, LDJ Capital, talks about getting the whole world—and the U.S.—behind cryptocurrency. He talks about the knowledge that is needed to raise capital in the U.S. and the many challenges that currently exist with global cryptocurrencies. Today, people are spending money across the globe, and taking those funds and running away. He says there is no protection and some form of regulation necessary. Peggy asks Drake if some of these blockchains are just another Ponzi scheme, and he responds that participation to date is simply based on trust; but admits there are no regulations and it has the appearance of a madhouse. Drake says the winners in all of this are going to be the ones who make a blockchain user-friendly and trustworthy.