Leaders from AIG, American Express, Amgen, Badenoch + Clark, BI Norwegian Business School, Citi, Gard, Helly Hansen, Interimleder, KPMG, Kvamme Associates, Sparebank1, Raise Gruppen (IC Scandinavia), and Rud Pedersen gathered in person and virtually at AmCham Norway’s downtown offices for our quarterly Financial Forum.
Magnus Jones, Nordic Blockchain & Innovation Lead at EY Tax & Law, led with “money equals trust, and without trust there is no value.” The same holds true for cryptocurrency, as Jones illustrated with Dogecoin – both before and after Elon Musk tweeted about it. However, money also equals politics and there has been an intense push for sound regulatory frameworks to be set.
After providing a high-level overview of bitcoin and cryptocurrency and what needs to be understood as it relates to businesses, Jones urged financial leaders not to rush, but to prepare for where their organizations will inevitably be heading. “All companies will touch bitcoin going forward. All major central banks are evaluating crypto.”
Jones also shared expert insights on the demographics of bitcoin users, the convenience of use, traceability, criminal activity, energy use and how companies can best prepare themselves (including within the Metaverse). Jones illustrated examples of how EY has assisted several transatlantic companies within the crypto industry.