Forbes is now moving past its staple “World’s Billionaires List” and into the realm of crypto assets. Believe it or not, there is a handful of people out there who have become rich out of selling, trading, or downright speculating about coins.
Forbes is interested in providing a n insight in the riches of crypto investor at a moment when auditors, independent investors and mainstream regulators are calling for more transparency in the sector.
Forbes’ own editor, Randall Lane, also alluded to the fact that an increasing number of third parties are using these proceedings and currencies to advance their illicit dealings.
There is certainly another challenge ahead of putting together a reliable list. The lack of transparency, which Mr Lane has been calling for.
In the words of Jeff Kauflin, a Forbes’ writer, these nouveaux riches have a whimsical side to display their riches, but at the same time cling to their anonymity as a sacred item that validates their entire existence.
Forbes list combines people who have amassed riches that go well below $350 million.
The magazine’s new list features people who have amassed the sad amount after taxes. Their fortune has been accrued solely as the result of a business that has to deal with cryptocurrencies in one or another.
This does not rule out blockchain, but for the people on the list to qualify, they must have necessarily been involved in the trade, sale or exchange of cryptocurrencies.
Now, as far as numbers go, the list is rather modest. Overall, 19 people are featured.
Some expressed skepticism over Forbes’ list. Precisely because most people who deal in cryptocurrencies tend to do so off the radar, it is unlikely that an accurate list can be produced. More worrying perhaps is the fact that what Forbes posits as facts could be off the mark and there could be organisations out there that have gathered greater stores of crypto currency.
One particular critic of the list was Joe Lubin, head of Consensys, who was skeptical of how Forbes would put together such a list when no one regulator can present it. Lubin almost confirmed what we only speculated about – people who have amassed riches wanted to stay under the radars.
Perhaps the best known millionaires in the crypto world are the Winklevoss twins who have been dealing in cryptocurrencies for years now. But other than that the actual names of the world’s crypto elite remains vastly unknown.
If you believe Cryptoweekly, then you may pick your high flyers from their newsletter. The magazine realeased an unofficial ranking of the world’s 100 most influential people.
Before we can talk about a genuine classification of the world’s riches as owned by individuals, we will have to settle the ongoing dispute about the legality of the crypto world.
On top of that, banks and other financial players will have to figure out a way how to stabilize the price. However, to do so, they will need more say in how cryptocurrencies are managed – a notion that all developers balk at.
It is an interesting dilemma and one that everyone will have to solve in the coming years lest they want it solved for them.