Speed, scale, and regulation will play a key role for encryption in 2022: CEO of FTX

Speed, scale, and regulation will play a key role for encryption in 2022: CEO of FTX

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Sam Bankman-Fried, founder and CEO of FTX, also known as “SBF”, ended 2021 with optimism. When SBF revealed the roadmap of FTX in 2022 on Twitter, it was full of lyricism about the state of the cryptocurrency market in 2021. flood.

In his view, the three cornerstones of industry progress in 2022: regulation, scale and transaction speed.He proposes solutions for each puzzle and refers to his Exchange participate.

In terms of supervision, SBF stated that it can better report and audit stablecoins. According to the FTX stablecoin policy, he stated that increasing transparency will solve “80% of the problem while allowing stablecoins to flourish on land.” At the same time, better market supervision and anti-fraud-based token issuance systems can resolve other regulatory loopholes.

Second, although the number of encrypted users is about 200 million, “far exceeding their weight”, more blockchain network effects are needed to achieve wider mainstream adoption.

Fortunately, FTX is in a leading position.it Doubled Its number of users in the fourth quarter strengthened its position as one of the top exchanges in the crypto space Valued at USD 25 billionSBF explained that although smart contracts have paved the way for the development of metaverse, decentralized finance, and Web 3.0, video games may be a way of massive expansion:

“Leveraging the existing video game user base can be huge-billions of users and hundreds of billions of dollars each year.”

However, he went on to say, “It only makes sense to make the virtual world more attractive, not less.” Blockchain integration in games (such as non-fungible tokens) can only be used to improve an already great game or It is only effective when virtual experience.

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Finally, cryptocurrency transactions must shift gears. The level of 50,000 transactions per second is not sufficient for industrial-scale applications. Without high speed, the other two problems cannot be implemented well. He joked:

“When the blockchain says they are already fast, I always laugh. No! […] Fast means millions of TPS. No one has come yet. “

According to Forbes, as the richest person in the crypto space, SBF has a net worth of $26.5 billion Put option The 29-year-old is just outside the top 100 people in the world.He is no stranger to spotlights and highly regarded characters, sharing the Twitter space with Tom Brady and reaching Cointelegraph’s third-ranked celebrity In 2021 in the blockchain.