Get ready for an exciting journey into the world of blockchain as we take you through the key takeaways from BTSE CEO Henry Liu’s fireside chat at the GM Vietnam event.
Joined by Orderly Network’s Co-Founder Ran Yi and moderated by the lively Joo Lee from Ancient8, the discussion covered everything from decentralized exchanges to security measures, liquidity provision, regulatory compliance, and the future of the industry.
Blockchain’s Superpowers: Asset Exchange and Beyond!
Henry and Ran both agree that asset exchange is a core use case for blockchain. Henry expands the horizon and defines blockchain’s fundamental use case as permissionless capital coordination. Henry envisions blockchain revolutionizing internet-native finance, transcending traditional trading and unlocking a whole new world of financial services. This aligns with BTSE’s mission to provide infrastructure for small-scale trading, payment services, and supporting cryptocurrency businesses.
Centralized vs. Decentralized Exchanges: Friends or Foes?
While acknowledging the dominance of centralized exchanges like BTSE in handling high trading volumes, Henry recognizes that decentralized exchanges have struggled to match their performance. However, he highlights the power of collaboration between centralized and decentralized exchanges, citing the successful partnership between BTSE and Orderly Network as proof.
It’s all about finding the sweet spot between centralized and decentralized finance platforms and exploring synergies for the benefit of the industry.
DeFi and CFi: Paving the Way for the Future of Finance
Ran’s excitement for decentralized finance (DeFi) is contagious, as he envisions a future where centralized finance (CFi) platforms act as gateways, seamlessly routing liquidity and yields to the decentralized finance ecosystem.
Fort Knox or Blockchain? The Battle for Security
Henry shines a spotlight on the stringent security protocols implemented by centralized exchanges like BTSE, ensuring the safety of user assets. Ran adds to the conversation, discussing the risks faced by decentralized exchanges and the measures taken to enhance security, including multiple audits and transparent, open-sourced code. Both participants emphasize the vital role of liquidity provision, with Henry unveiling the collaboration between centralized exchanges and market makers, while Ran dives into the challenges and innovative approaches in DeFi liquidity provision.
Beyond Cryptocurrencies: Blockchain’s Expanding Horizons
Henry sees blockchain as a powerful tool for programmable money, capable of transforming various sectors. He paints a vivid picture of blockchain’s potential, from the financialization of social media to facilitating the exchange of diverse assets with increased accessibility, speed, and liquidity. Ran Yi echoes this sentiment, emphasizing the need for compliance and regulatory navigation in sectors where blockchain’s benefits face challenges.
Cracking the Regulatory Code: Compliance in a Changing World
Henry acknowledges the complexity of regulatory landscapes, but emphasizes the importance of showcasing blockchain’s benefits to regulators. He believes in demonstrating how blockchain technology can empower issuers, regulators, fund managers, and cryptocurrency sources. Henry also acknowledges the challenges faced by centralized exchanges in the US regulatory environment, while Ran expresses hope that regulators will focus on regulating applications rather than protocols.
Closing the Chapter, Embracing the Future
Both Henry and Ran Yi radiate enthusiasm for the future of DeFi and the blockchain industry. Henry predicts a significant wealth transfer within the crypto industry, particularly in DeFi, in the coming years. He encourages builders and innovators to keep pushing forward, regardless of market cycles. Ran Yi echoes these sentiments, eagerly anticipating the transition of traditional finance onto the blockchain.
With a focus on security, liquidity provision, and regulatory compliance, Henry and Ran leave no doubt about their excitement for the transformative potential of DeFi and the remarkable journey that lies ahead in the realm of blockchain.
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