Continuously promoting industry breakthroughs, Asia will become an important crypto center
Singapore, Singapore–(Newsfile Corp. – September 16, 2023) – Justin Sun, the esteemed founder of TRON and a member of the HTX Global Advisory Committee, was cordially invited to participate in the highly anticipated 2023 Milken Institute Asia Summit on September 14. During this prestigious event, Sun engaged in a profound and insightful dialogue with Kirk Wagar, the President of Wagar Global Advisors and Former Ambassador of US to Singapore, focusing on pertinent issues concerning the future trajectory of the crypto industry.
In the course of their conversation, Justin Sun expressed a notable viewpoint, highlighting the insufficient recognition of stablecoins as a significant real-world use case.
Justin Sun: Firm Belief in Blockchain and Advancing the Crypto Industry
During the conversation, Justin Sun eloquently emphasized the lack of attention given to stablecoins as a significant real-world use case, while also introducing TRON’s achievements in stablecoin. Sun revealed that the blockchain currently hosts approximately $50 billion worth of stablecoins, including popular ones like USDT, USDC, TUSD, as well as decentralized stablecoins such as USDD and USDJ. Notably, the TRON network boasts a daily trading volume surpassing $12 billion, surpassing many other platforms trading in US dollars while maintaining significantly lower transaction costs.
Kirk Wagar pointed out during the conversation that there are still concerns in the market regarding cryptocurrencies.
In response to this issue, Justin Sun stated that increasing transparency and ensuring decentralization are key factors, highlighting the importance of decentralized governance in establishing a global financial consensus. As the founder of TRON, Sun reiterated his unwavering commitment to decentralization. The operation of TRON relies on thousands of global nodes, ensuring transparency and decentralization, which in turn inspires confidence in regulatory agencies.
Asia’s Crypto Industry Ascends, Setting its Sights on Large-Scale Applications: Insights from Justin Sun at the Milken Institute Asia Summit
During the conversation, Justin Sun eloquently highlighted the remarkable ascent of Asia in the crypto domain. He elucidated that the crypto industry originated in Asia and has progressively expanded from China to encompass influential regions such as Singapore, South Korea, Japan, and Hong Kong. Presently, Asia has reclaimed its position as one of the world’s foremost crypto hubs.
Justin Sun emphasized that following the actions taken by the US Securities and Exchange Commission, numerous leading investment institutions in the United States have shifted their focus towards Asia. Consequently, they have dedicated the majority of the past three years to exploring opportunities in locations such as Singapore, Hong Kong, South Korea, and Japan.
During the conversation, Justin Sun shared his experience in promoting the adoption of crypto technology during his tenure at the World Trade Organization (WTO). He noted that while the WTO primarily focuses on traditional trade, a consensus has yet to be formed regarding e-commerce and blockchain. Currently, an increasing number of individuals are embracing crypto technology as a daily payment solution, utilizing TRON network and decentralized methods for transactions. Sun acknowledged that fostering widespread adoption of crypto technology will require sustained efforts over the long term.
Justin Sun remarked, “Although the crypto industry has a history of over a decade, it is still in a very early stage. Its ultimate objective is to achieve widespread adoption and large-scale applications. However, before reaching that milestone, several obstacles, including regulatory challenges and infrastructure enhancements, must be overcome to address user convenience and mitigate risks in daily usage. Establishing a comprehensive regulatory framework holds the key to unlocking substantial growth potential in the crypto industry. Currently, the number of crypto users stands at approximately 100 million.” Justin Sun hopes to see regulatory progress in the next 6 to 12 months.
It is worth noting that the 2023 Milken Institute Asia Summit, now in its tenth edition, was hosted by the esteemed non-profit and nonpartisan think tank, Milken Institute, in the United States. This influential event centered around the theme “Bridging Complexity and Opportunity,” bringing together prominent figures from diverse fields such as politics and economics. Their collective efforts aimed to foster discussions on pressing global issues, including digital development and access to capital.
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