Crypto doesn't need a blockchain or token, Tether CEO says
In 2024 the crypto industry needs to provide users with “real world use cases and applications” that are not necessarily based on a token or blockchain, according to Tether CEO Paolo Ardoino.
“Crypto doesn’t need a blockchain, it doesn’t need a token,” he told Cointelegraph in an exclusive interview.
Ardoino argues that the next crypto killer app should be focused on the fundamental value proposition offered by cryptography, which consists in peer-to-peer transactions and privacy protections.
“It could be a booking system or an Uber competitor,” Ardoino explains.
According to the CEO, introducing a token means creating a centralized point of failure and increasing the likelihood that the project will be considered a security by regulators.
“Many projects that issued tokens are now in the crosshairs of the SEC,” Ardoino points out.
To be decentralized, this system wouldn’t need blockchain technology, which is "slow and require global shared state.”
“BitTorrent didn’t have a blockchain and was decentralized,” he adds.
To find out more about Ardoino’s crypto outlook for 2024, check out the full interview on our YouTube channel and don’t forget to subscribe!
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BREAKING: FBI Operation on the CEO of the Most Talked Cryptocurrency Platform of Recent Times – Phone and Electronics Seized
The FBI launched an operation against one of the most talked about cryptocurrency platforms of the US elections. Here are the details.
Another Good News for Bitcoin and Cryptocurrencies – BTC-Friendly Name Appointed to a Very Critical Position in the US
A name known to be cryptocurrency and Bitcoin friendly has been elected to an important position in the US. Here are all the details.
BREAKING: As Expected, U.S. Department of Justice Launches Investigation into Prominent Cryptocurrency Platform
Cardano (ADA) Foundation Announces Investment Portfolio! Do They Have Bitcoin (BTC)?
The Cardano Foundation announced that it has $478.24 million in assets, the majority of which is in ADA.