Binance had its first conference last week, in Singapore. This was a good conference, with serious projects and a core group of crypto faithful. Now that the ICO ‘boom’ (at least the version 1.0), is well and truly behind us, the ‘tourists’ that mostly throng these conferences searching for/peddling for ‘when moon’ ICOs have disappeared, allowing for some quality conversations with the ‘remainers’. It is always a pleasure to spend time with ChangPeng Zhao (CZ), the ever-smiling founder of Binance. It was also a pleasure to finally meet in person the peerless ‘Pomp’ aka Anthony Pompliano; Immensely successful crypto veterans who wear their success lightly, and have no airs about them. Do sign up for Pomp’s newsletter, it is a must-read for us here at Satoshiand.co.
As expected, one key emerging theme for 2019 seems to be stablecoins. For now, stablecoins are mostly something that is exclusively of interest to traders, but in another couple of quarters, expect a multitude of stablecoins to pop up, with interesting, disruptive use cases in remittances and payments. For now however, there is a profusion of US stablecoins, and a few other currencies as well. In case you have not done so already, do check out our stablecoin watch
(By the way, there are folks purporting to advise the Nigerian Government on their stablecoin strategy, and offered to partner with a stablecoin we know in exchange for their technology! Go figure).
Still undecided on the STO (securities tokenization) opportunity, which was another theme that kept coming up at the conference; It seems more and more like old wine in new bottle. There seems to be the same set of intermediaries providing distribution and access to pools of capital. Given the relative lack of institutional crypto uptake (at least as of now), would investors truly care if their investments are tokenized or not? There seems to be some specific use cases, such as with fractionalization and in cutting across cross-border regulatory hoops, but on the whole, we are not sure if the steak here matches the sizzle.
Singapore, as always, continues to amaze. Everything just works, almost like clockwork, and the regulators are working closely with the industry to keep regulation in step with fast-moving industry developments.
I will end with my favourite CZ quote “The opportunities in blockchain that are ahead of us are far greater than the opportunities behind us”. This is from a man who has created Binance, that in 2018 outperformed Deutsche Bank in profits, and almost pulled even with Nasdaq. Let that sink in. It is early days still. Really early.
Also, we have some exciting news. The folks that sit on the other side of the wall here at ZPX have been busy working on launching a Hybrid DEX
. We will have more details for you soon, but do check out the newsletter link at the bottom of the Fordex landing page
. Very soon, you will be able to swap between a bunch of USD stablecoins as well as a Korean stablecoin and a few other ones as well. What is more, if you are in the US, you can even buy stablecoins with plain old US dollars, and convert them to say, Korean stablecoins, and have a down-ramp into Korean dollars! Stay tuned….