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Speaker 1: Investing involves the risk you might lose the money you

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Speaker 1: start with. We recommend talking to a licensed financial advisor.

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Speaker 1: We also recommend reading product disclosure documents before deciding to invest.

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Speaker 1: Everything you're about to see and here is current at

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Speaker 1: the time of recording.

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Speaker 2: It's a special week on Shared Lunch to mark the

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Speaker 2: recent launch of Shares is Crypto. We're going to be

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Speaker 2: diving into five conversations all about crypto, from how it's

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Speaker 2: evolving to what investors need to know in twenty twenty

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Speaker 2: five and beyond. Just a note though some of these

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Speaker 2: episodes were recorded earlier in the year, so some market

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Speaker 2: prices and movements may have changed. In our fourth episode,

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Speaker 2: Leighton Roberts talks to the co CEO of krack and

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Speaker 2: Dave Ripley about why security is so important when it

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Speaker 2: comes to crypto.

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Speaker 3: What's different about krackin and the crypto world and what

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Speaker 3: problem are you trying to.

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Speaker 4: Solve about cracking versus all of our peers, competitors and

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Speaker 4: all that good stuff. Look, you know, Kracking has been

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Speaker 4: around for a long time. We are built this company

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Speaker 4: on like strong foundations, security, regulatory compliance service, you know,

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Speaker 4: fantastic ux, all of those things that's foundational. There's probably

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Speaker 4: a handful of other companies that offer that type of thing.

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Speaker 4: What Kraken really cut its teeth on them. Where we're

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Speaker 4: really really strong is actually, you know, initially we're individual

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Speaker 4: pro traders, individual advanced traders, and so we really just

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Speaker 4: like now this population, we have the best ux, best analytics,

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Speaker 4: all the best you know, most broad products at broad

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Speaker 4: asset class, derivatives, margin, all these various different pieces, and

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Speaker 4: so that's kind of like piece number two. And then

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Speaker 4: the third is we're actually probably one of the most

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Speaker 4: global FinTechs in the world right now. I mean we

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Speaker 4: started we were the first place you can buy and

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Speaker 4: sell bitcoin with euros, so in Europe we launched, which

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Speaker 4: is kind of a heterogeneous market to start. Then we

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Speaker 4: move the UK, then US, Canada, Australia. Now we're in

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Speaker 4: Middle East and Latin as well. So we are one

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Speaker 4: of the most global. There's really if you look at it,

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Speaker 4: there's probably count on one hand FinTechs that are actually

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Speaker 4: as global as kracking is.

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Speaker 3: What is it about bitcoin and cryptocurrency that gives it

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Speaker 3: a bad reputation for attracting heckers in the dubious crowd.

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Speaker 3: Is it actually more risky than traditional.

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Speaker 4: Finance crypto and let's see hackers and risky transactions and

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Speaker 4: so forth. So I think the answer to this is

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Speaker 4: none of the above. False. It's a myth, you know,

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Speaker 4: when we look at it, when we look at the

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Speaker 4: data and we look at as percent of like total

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Speaker 4: transactions total you present, a total user and so forth,

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Speaker 4: it's actually not more significant on any of these dimensions. Clearly,

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Speaker 4: the bulk of all fraud and money laundering and everything

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Speaker 4: happens in the traditional financial system today, you know, the

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Speaker 4: large majority of it, and a small little minority of

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Speaker 4: it happens in crypto of either too. Now, of course

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Speaker 4: crypto is a smaller financial marketers is today, but when

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Speaker 4: you look at it on sheriff total, it's actually it's

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Speaker 4: actually not larger, you know, or more pronounced than traditional finance.

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Speaker 3: So there's been a number of large and high profile

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Speaker 3: hecks in the crypto space. One of the most recent,

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Speaker 3: bing coinbased it got a lot of attention. What's your

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Speaker 3: view and krakens you on this and how that what

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Speaker 3: went wrong for this to happen?

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Speaker 4: You know, this is a fantastic question, and honestly it's

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Speaker 4: super meaningful for the industry, super meaningful for Kraken. Security

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Speaker 4: is one of those things where it's, you know, when

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Speaker 4: we think about it from a customer standpoint, A lot

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Speaker 4: of times many customers almost don't have a top of mind.

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Speaker 4: It's not the top thing they're mostly interested in until

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Speaker 4: it's too late, right, But I think over time there

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Speaker 4: is that level of knowledge that comes across the industry. Look,

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Speaker 4: as I you know, have you know, as we've talked,

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Speaker 4: Kraken was built with security as it's first and most

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Speaker 4: meaningful you know, differentiator that it brings to brings to

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Speaker 4: the market. In fact, Kracking was actually founded up following

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Speaker 4: the mount Cox hack. So mount Cox was actually hacked

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Speaker 4: two times. It was hacked one time and then you know,

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Speaker 4: a couple of years later, was hacked the final time

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Speaker 4: that you know, kind of set it down right. The

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Speaker 4: first time it was hacked. Jesse actually knew some people

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Speaker 4: and the this is the co founder in longtime CEO

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Speaker 4: of krackha knew some people in the industry. He went

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Speaker 4: out there to help mount Cox, help him figure out, Hey,

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Speaker 4: you just got hacked. Let's contain it. Let's deal with

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Speaker 4: the pr Let's deal with the customers and so forth.

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Speaker 4: And he came back from that thinking a couple of things.

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Speaker 4: He was came back from that thinking like, oh wow,

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Speaker 4: that place is really not doing it the right way

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Speaker 4: and you so the next thought is someone needs to

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Speaker 4: do it the right way. And that's that. That was

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Speaker 4: how Cracking came to be. And he you know, he

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Speaker 4: talked to the co founder Time. They set out to

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Speaker 4: build Cracking, and so the entire company has been built

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Speaker 4: with like security at its core, and our co founder

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Speaker 4: Cto Time for many years he often refers to crack

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Speaker 4: and as a security company with an exchange built on top.

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Speaker 4: So security is super critical. We invest in it. It's

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Speaker 4: not just one function or one team. It's pervasive across

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Speaker 4: every team in the company. That's the only way to

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Speaker 4: do it the right way.

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Speaker 3: In light of your view on how crypto is changing society,

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Speaker 3: are there any examples of countries or regions which have

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Speaker 3: embraced it in the showing how it might make a

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Speaker 3: difference for other countries into the future.

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Speaker 4: Yeah, that's a good question. Look, I think the adoption

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Speaker 4: for crypto has you know, happened across the globe. And

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Speaker 4: I mean if you go and look at some of

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Speaker 4: the Google trends data, or you look at various blockchain

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Speaker 4: data where you attempt to, you know, associate with various

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Speaker 4: different geolocations. We actually see most of the adoption not

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Speaker 4: actually in the developed world. We see it in various

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Speaker 4: different places across Latin America, I mean, we see it

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Speaker 4: across you know, Africa, Asia Pacific as well, And so

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Speaker 4: I think there's a real reason for that. The financial

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Speaker 4: services that individuals have in all the various parts of

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Speaker 4: the world are not the same. And so in the US,

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Speaker 4: you know, frankly, I would say financial services with regard

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Speaker 4: to like, you know, a currency that inflates only so much,

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Speaker 4: less so than a lot of other currencies, you know,

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Speaker 4: access to moving money, you know, access to financial services globally,

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Speaker 4: making payments at low cost, moving money globally, and so

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Speaker 4: for they're pretty good. But then when we look in

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Speaker 4: other parts of the world and you go across all

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Speaker 4: those various different things, and the individual might want and well,

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Speaker 4: the inflation might be really significant, you know, double digit

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Speaker 4: or even more so, ability to move money globally might

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Speaker 4: be non existent, and you kind of go down the

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Speaker 4: list or extraordinarily high cost and slow, and you kind

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Speaker 4: of go down the list, and so I think that's

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Speaker 4: actually leading to crypto being adopted more so in some

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Speaker 4: geographies versus others. So that's kind of the general piece,

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Speaker 4: you know, I don't know, I mean, I'll Salvador if

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Speaker 4: they made a bunch of news of course, you know,

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Speaker 4: adopting you know, crypto the way that they have there,

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Speaker 4: and yeah, I mean, I guess just you kind of

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Speaker 4: see it in the data where there's you know, Argentina's

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Speaker 4: big on crypto, Nigeria is big on crypto, and number

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Speaker 4: of other countries out there.

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Speaker 5: Crypto is generally considered a high risk investment. It's not

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Speaker 5: suitable for everyone, especially if you're uncomfortable with the potential

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Speaker 5: of losing some or all of your investment. For more

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Speaker 5: informational crypto and it's specific risks cheeks cheesies dotingz Crypto.

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Speaker 5: Jesus Crypto is offered by Jesus Crypto Limited. Mm hmm