Here’s what crypto and blockchain experts from China think about the role of emerging technologies in the future of finance.
Satoshi Nakamoto introduced the Bitcoin (BTC) white paper over a decade ago, it was hard to imagine what role the cryptocurrency sector would play in global finance. Some argue that the invention of blockchain technology is comparable to the revolution brought on by the invention of the internet back in the 1980s.
The general public discourse on the crypto space still suffers from the notorious reputation of the Silk Road saga and the ICO craze back in 2017 — 80% of initial coin offerings ended up being scams. Meanwhile, by appealing to the younger generations — who will soon enough be the major drivers of the world’s economy .
Bobby Lee, founder and CEO of Ballet said , “I think the way that blockchain and crypto have changed finance globally is by essentially introducing a brand-new asset class”. Traditionally, the world only had gold and silver. After that, we had the invention of paper money, which became currency, and that was a new asset class.