TOKEN2049: crypto players spoke about the industry’s development in the next three years

• Circle CEO, OKX founder and Ethereum co-founder participated in the panel discussion ‘The Next 3 Years in Crypto‘ during TOKEN2049.
• Representatives of the crypto industry discussed the future of the industry and the direction of its development.
• OKX founder Star Fu admitted that in 2017 Buterin came to him with a proposal to list the Ethereum, but he refused the programmer.

The TOKEN2049 conference kicked off in Singapore with a panel discussion The Next 3 Years in Crypto. The event was attended by Circle CEO Jeremy Allaire, OKX exchange founder Star Xu and Ethereum project co-founder Vitalik Buterin. The Incrypted team has collected the key statements made at the event.

During the event, representatives of the crypto industry discussed the future of the digital assets sphere, as well as talked about interesting moments from their past. Thus, Buterin said that he was not sure where exactly the industry would come, but immediately after the launch of Ethereum, he realized how large-scale potential the project has.

The OKX founder, in turn, shared an ’embarrassing’ moment from his history of working in Web3. According to him, in 2017 Buterin came to him and offered to list the Ethereum, but Xu refused the programmer. Now this project is ‘the most important blockchain infrastructure’ and OKX has become a part of it, the entrepreneur noted.

Star Xu also noted the importance of self-storage technologies because of their high level of security. However, their use in the industry does not mean that there is no need to regulate the crypto industry, the OKX founder emphasized.

As for the future of digital assets, the industry has produced a lot of successful tools in the past ten years, according to Star Xu. However, Web3 applications are developing too slowly, the businessman believes. Over the next three years, market players should create cryptocurrency wallets that will be as close to Web2 in terms of user experience as possible, the OKX founder said.

Vitalik Buterin noted that one of the main advantages of digital assets is their multinationality. In addition, the industry allows to close the needs of people who do not have normal access to the financial system, healthcare and other critical areas.

According to the Ethereum co-founder, the L2 ecosystem of his project has gathered a large number of talented developers around it. This segment has diverse capabilities and people are actively launching new technologies. L2 solutions, according to Buterin, have also played an important role in scaling Ethereum.

In terms of further development, the programmer spoke about the need for ‘healthy’ mass adoption of digital assets. According to him, it is necessary to pay attention to the availability of technologies and spend less effort on expensive NFT. Buterin does not condemn such trends, but does not see them as a real benefit for the industry and humanity as a whole.

The Ethereum co-founder also believes that it is necessary to improve the security situation in the crypto and try to reduce transaction fees.

Circle CEO shared his opinion on the situation in the stablecoin sector. The entrepreneur emphasized the importance of a seamless user experience and further movement towards the accessibility of this asset class.

Separately, Allaire emphasized the need for new approaches in the industry. The businessman is confident that this will provide an opportunity to revolutionize the stablecoin segment. He is particularly interested in the direction of lending, which the businessman considers one of the most profound transformations currently available.

Circle CEO also pointed out the importance of regulating the mentioned asset class. The sooner governments adopt a regulatory framework for stablecoins, the sooner they will become real ‘digital money,’ the head of the company said.

Regarding the further development of the crypto industry, the entrepreneur still takes an optimistic position. He is sure that the industry is able to attract a large number of new users, and Web3-technologies have a significant potential for further movement forward.

We also wrote that Vitalik Buterin spoke at the TOKEN2049 conference.