(Kitco News) - The British pound sterling has fallen 16 percent against the U.S. dollar over the year, as the U.K. economy struggles with an energy crisis and high inflation. These events reveal precisely why cryptocurrencies are so beneficial, according to Jessica Walker, Chief Marketing Officer at Fluid Finance.
"There is a huge concern right now about the security of people's own fiat currency, and their own country's coin," she said. "Being able to diversify and have other options besides fiat is really important now, more than ever, with so much geopolitical uncertainty."
For Walker that diversification comes into the form of Bitcoin, Ethereum, and other projects.
"I dollar-cost-average into Bitcoin, Ethereum, and then I look at projects that I really believe in," she said. "I always like to go to conferences to meet the team."
Walker spoke with David Lin, Anchor and Producer at Kitco News, at the Future Blockchain Summit in Dubai.
Government Overreach
The Canadian government's crackdown on trucker protests, which involved freezing banking accounts and jailing protest leaders, highlights the need for decentralized money, said Walker.
"It was a pretty scary time, and if anything, it was an advocate for decentralization," she said. "This is why we need Bitcoin. This is why we need currencies that governments can't control."
When it comes to serious crime, however, Walker hinted that cryptocurrencies are not the best way to engage in illicit activity.
"Everything is on an open public ledger," she said. "Cash is so much more of a dirty secret, in the land of assets, than cryptocurrencies. With cryptocurrencies, you are able to see and verify how money has moved throughout."
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Regulation
As regulators understand cryptocurrencies and clarify rules around them, this will "help the industry grow," said Walker.
"We are based in Dubai at the moment, and Dubai regulators work quite well with cryptocurrency exchanges," she said. "The jurisdiction is looking to move and integrate cryptocurrencies in a progressive and positive way."
She pointed to recent crypto crashes, such as the Celsius bankruptcy and the crash in UST/Luna, bringing out the need for better regulation.
"We started the year off with the Celsius issue," she said. "We then went through and saw UST and Terra situation. So certainly there are questions around algorithmic stablecoins… I do think there questions that regulators will want to ask."
To find out Walker's Bitcoin outlook, watch the video above.
Follow David Lin on Twitter: @davidlin_TV
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