As Max Keiser stated at the beginning of the interview, the name “Mellon” for decades has been associated with traditional banks and financial systems. However, Matthew Mellon does not subscribe to this supposed legacy as he works hard to reign in the Bitcoin future that many people now await.
Heretic or Pioneer?Matthew Mellon is the Chairman of the New York Republican Party’s Finance Committee, an entrepreneur and a hard-boiled Bitcoin enthusiast. “Innovation is endless with Bitcoin,” was the first opinion expressed by Mellon in the interview.
Max Keiser pointed out that all of the Bitcoin's features go “against everything people don’t like about traditional banks”. So, what do others think of Mellon? Is he a black sheep or a prophet among the financial bosses in Manhattan?
Game-changerSmiling at the question, Mellon reiterates what we at CoinTelegraph have been telling readers for the past half a year. Bitcoin is a massive game-changer, although no one quite knows where it will lead. Everywhere he looks, he sees that people are still looking at New York, as the finance center of the world, for guidance.
According to the entrepreneur, Bitcoin is not welcome in New York for the time being, as the traditional banking system is deeply rooted in the city's culture, but things are about to change.
At least that what Mellon believes as he sees current types of payment being atavisms of the current system. He considers paper and metal money to be unhygienic. And, according to him, credit cards are also on their last legs.
The main problem with bitcoin is that it is not transparent enough. At least that is what people in control of our present financial system in New York proclaim. This is where Mellon comes in, as he has been pouring a lot of money into CoinValidation.
As Mellon explains, the project is an insurance policy to demonstrate the transparency of Bitcoin. However, this view has stirred up much controversy, as the majority of hardline bitcoin proponents see it as a measure of control and limitation. Arguably, this is in part true, but Mellon sees crypto-currencies regulation as the only viable way to move forward.
More projectsAt present, Mellon funds 70 coders on 12 other projects. One might argue that his approach to bitcoin is incorrect with in his attempt to introduce bitcoin to the masses by integrating bitcoin into “the system” as opposed to supplanting “the system.” In any case, only time will tell and we are here to bring you the latest development as this story develops.