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“Every Bitcoin issue has never been a Bitcoin problem,” says Gemini’s Tyler Winklevoss

Priya

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"Every Bitcoin issue has never been a Bitcoin problem", says Tyler Winklevoss
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Cameron and Tyler Winklevoss, the Bitcoin billionaire brothers, spoke about their marketing campaign for the recently launched Gemini mobile app, during a discussion panel at SXSW Conference.

The discussion began with Cameron Winklevoss briefly speaking about Gemini. He stated that Gemini was a cryptocurrency exchange and a custodian, and that its services can either be availed on Gemini.com or on the iOS App store/Google Play.

This was followed by Tyler speaking about what Bitcoin and other cryptocurrencies were in relation to checking accounts or cash. Tyler stated that the Bitcoin and other cryptocurrencies were “money built for the internet,” while cash and checking accounts were built by the bankers before the internet.

He further added that “cryptocurrency is money over ideas, data packets over the internet” that allows users to send value as easy as email. Tyler said,

“Using the same type of mechanisms of computer’s taking to each other that email uses […] this was built by the same type of engineers that built the internet not bankers before the internet.”

Furthermore, the twin brothers were asked about the recent marketing campaign for the Gemini App, which caught the attention of the entire space. The platform opted for advertising slogans connected to cryptocurrency space such as “Crypto without chaos,” “The Revolution needs Rules” and “Money has Future.” This campaign resulted in the entire space criticizing the exchange, with several stating that it was self-regulatory. Tyler Winklevoss said,

“The protocols have rules based on math and cryptography but the rule what we are taking about is the humans who deal with the value on top of the protocol. So, we are a trust company regulated as a trust company to protect your value and that’s usually where the cons happen, it’s not at the protocol level, it’s at the company level.”

He went on to say that they were looking to bring rules for entrepreneurs building companies that store digital assets and secure its value, adding that “every Bitcoin issue has never been a Bitcoin problem.” The co-founder said,

“It was a company built on top of Bitcoin, like Mt. Gox  or recently there was a Canadian exchange that lost the private keys in a murky way because there’s not enough internal controls, there’s not enough regulatory oversight and usually in financial market if you build trust by having regulatory oversight, someone looking over your shoulder, making sure you do what you do.”



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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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