The Collision of Crypto and Fiat

Published on
March 29th, 2020
Duration
28 minutes


The Collision of Crypto and Fiat

The Expert View ·
Featuring Robert Materazzi

Published on: March 29th, 2020 • Duration: 28 minutes

How will cryptocurrency change the way we pay our taxes? Robert Materazzi, co-CEO of Lukka, joins Real Vision to discuss his experience building a platform to address the rising need of investors to sort through an increasingly complex array of cryptocurrency-related tax issues. Materazzi also explains his view of how the rapidly evolving world of cryptocurrency and distributed ledger technology will interface with the IRS and the traditional, fiat-based financial world.

Comments

Transcript

  • AT
    Andrea T.
    2 April 2020 @ 06:32
    If your crypto data can be tracked by people with guns, just don't use *that* crypto.
  • AT
    Andrea T.
    2 April 2020 @ 06:27
    A kind reminder that taxation is theft.
  • SC
    Sean C.
    31 March 2020 @ 20:42
    Very informative, if not specifically relevant to me. Who are the downvoters on a piece like this? Cryptohaters? People who didn't find it relevant? Not like he had controversial opinions that you could disagree with.
  • KM
    Klayt M.
    30 March 2020 @ 03:53
    He mentions Ripple providing money for the development of the Libra tax calculator. IMO Ripple is the industry leader in commercialized DLT. They are building relationships with reputable exchanges to build the first cross-border payment/settlement crypto system. The correspondent banking system takes days to settle. The payment agreement is instant, but for the banks to settle the funds they go through multiple intermediary banks and slow the process down to deal with the counterparty risk. Using Ripple’s On-Demand Liquidity using XRP, any RippleNet member financial institution can buy XRP with local fiat, transfer to another country, and the receiving bank/FI sells the XRP to their local fiat for instant settlement and available funds to their customers. This is taking cross-border value transfer from days to seconds and also significantly reduces costs. Members include PNC bank, American Express, Santander, Ria, Moneygram, Finastra, Earthport (google the VISA/MasterCard bidding war), Bank of England and other central banks, Kotak Mahindra, Westpac, Scotiabank, UBS, Credit Suisse, Credit Agricole and many others. Food for thought.
    • CH
      Crag H.
      30 March 2020 @ 19:13
      Also food for thought: Why would you buy into a cross-border settlement system provided by a private company when you can just use Bitcoin?
    • AW
      Aaron W.
      30 March 2020 @ 19:43
      Ripple/XRP is a pure money grab. Billions of dollars dumped by the founders onto the public. Jed McCaleb has sold personally unloaded $1 billion in XRP and continues selling today. https://medium.com/@whale_alert/chasing-crypto-whales-9a3578617a54
  • AW
    Aaron W.
    29 March 2020 @ 23:15
    Their competitor Cointracking.info has 500,000 users and $4B of customer portfolio values.
  • GC
    Gary C.
    29 March 2020 @ 21:17
    Robert, since RV is a investment site, could you suggest companies from your insiders view that one could do their own DD, and purchase stock or other type of investing. I tried, unsuccessfully to try to buy an initial stake in Hedera Hashgraph, which I believe will be a large component of blockchain infrastructure.
    • AW
      Aaron W.
      29 March 2020 @ 22:49
      Hashgraph is a scam -75% since its $0.12 ICO (currently $0.03).
  • GC
    Gary C.
    29 March 2020 @ 21:24
    I have no doubt Lukka will be a major acquisition target in the very near future....PWC, or similar large firm....Good luck with those negotiations....
  • SS
    Steven S.
    29 March 2020 @ 21:24
    Title edit: The Collusion of Crypto And Fiat The Expert View - Featuring Lando Calrissian
  • GC
    Gary C.
    29 March 2020 @ 21:10
    I was an early BTC buyer, scrambled to sell almost all of the units near the top. Like a good boy told my accountant about the capital gains, he called the national firm’s Crypto early “expert” The problem for me was how to account for the forks that bitcoin had, I got BTC gold, BTC cash..I had to guess Valuations and no support from XAPO.
  • PB
    Pieter B.
    29 March 2020 @ 11:57
    Very interesting! Thank you!