There’s a wrong way and a right way to change a tire, scramble an egg, and erect a cryptocurrency business. For the latter — don’t rush it, and be sure it fills a yawning market demand, according to Al Burgio (pictured), founder and chief executive officer of Fusechain Inc.

“We’re seeing a new asset class. But it can take the shape of perhaps a security or utility, and the law applies to these things differently. And so people need to do their homework,” Burgio said.

Sound advice; nonetheless, some are losing their heads in the rising temperature of crypto fever. “Some organizations are getting overly anxious, moving perhaps a little too fast without getting their ducks in a row. And perhaps that’s resulting in some wrist slapping,” Burgio stated. The 80 subpoenas the Securities and Exchange Commission recently issued to cryptocurrency firms come to mind.

Burgio spoke with John Furrier (@furrier) and Dave Vellante (@dvellante), co-hosts of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, at the Polycon18 event in The Bahamas. They discussed the medley of old finance pros and young innovators coming to crypto, as well as Fusechain’s plan to remake the loyalty rewards market. 

A market begging for blockchain

Fusechain is betting smart on a market that fairly begs for the secure ledger technology blockchain, according to Burgio. Loyalty rewards is a multibillion-dollar market suffering from a liquidity problem, he added.

“We feel that what we’ve built with the digital bits protocol, and the digital bits network is really going to solve a big problem out there for businesses, enterprises, as well as consumers,” Burgio said.

Thanks to old hands in high finance and intrepid entrepreneurs, more solid crypto business models will take shape in the near term, according to Burgio. Their collective force was on display at the Polycon conference, he noted. Aside from Wall Street, its Canadian equivalent Bay Street, and other traditional finance professionals, “You have the innovators that are on the forefront of this really driving the technology that’s going to support and help even that industry evolve,” Burgio concluded.

Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of Polycon18.

Photo: SiliconANGLE