FT专访WOO联创Jack Tan：2024年，加密行业迎来新的分水岭
This article comes from:FT Chinese website, Author: Du Ruoxuan
Recently, the U.S. Securities and Exchange Commission (SEC) changed its stance on Bitcoin exchange-traded funds (ETFs), a move that has caused widespread concern in the cryptocurrency investment community. The decision marks a major shift in the regulatory environment for cryptocurrencies, paving the way for wider acceptance and adoption of Bitcoin and other digital currencies in traditional financial markets. The SEC has long been wary of cryptocurrency ETFs, primarily due to concerns about market manipulation, inadequate investor protection, and the high volatility of the crypto market. However, as the crypto market matures and the regulatory framework gradually improves, this new SEC position may herald increased recognition of this emerging asset class.
What does this shift mean for investors? What long-term impact will it have on the cryptocurrency market? To gain a deeper understanding of this topic, FT spoke with Jack Tan, co-founder of WOO, an expert with deep experience in the cryptocurrency field, to explore the motivations behind the SEC’s decision and what it may mean for the cryptocurrency market and investment. the impact produced by.
WOO is a company active in the cryptocurrency space that is committed to advancing the cryptocurrency industry through innovation and transparency while improving the security and user-friendliness of exchanges. Gathering the liquidity and top market makers of CeFi and DeFi, it provides trading depth and competitive transaction costs for large trading institutions, exchanges, investment institutions and DeFi platforms.
The following is the transcript of the interview:
FT Chinese: The U.S. Securities and Exchange Commission has changed its stance on Bitcoin ETFs. How do you think this will change the way Bitcoin investors and financial markets in general view cryptocurrencies?
Jack Tan: This really adds a lot to the argument that the crypto industry is a substantial thing. Moreover, there is a certain taboo surrounding crypto-assets such as Bitcoin and Ethereum in the public eye. Now the U.S. Securities and Exchange Commission (SEC) has approved a Bitcoin ETF. Although the SEC has not stated whether Bitcoin is a good or bad asset, they have basically certified that the ETF is legal and there is no legal reason not to approve a Bitcoin ETF. I think this really brings a lot of legitimacy to the entire crypto industry, not just Bitcoin itself. We all know how difficult it was to prove that this new type of decentralized asset could reach mainstream markets, it took about 15 years and ultimately an uphill legal battle to get SEC approval.
Even the approval was accompanied by many exciting events, such as various fake news on the Internet at that time. So everyone breathed a sigh of relief when the whole thing was finally settled. And the result of approval was very close. The US Securities and Exchange Commission held an internal vote, and there were three votes in favor of ETF adoption and two votes against. This shows that this was not a sure thing at that time.
FT Chinese: What changes will this move bring to retail investors?
Jack Tan: Now it has become more convenient for retail investors to buy Bitcoin. Purchasing Bitcoin might have required multiple steps before, but now it can be done in just one step. It’s like building a highway for Bitcoin investors. In the past, if we compared it to a road, it was like a winding and narrow alley. If investors wanted to get from one place to another, they would need to spend a lot of time and energy. Now, there is a wide channel that allows more people to purchase this asset conveniently. However, the opening of a highway does not automatically mean there will be a lot of demand. There must also be a specific situation driving people to invest in Bitcoin. There must be recommendations from professional analysts to make people willing to buy Bitcoin. Once they decide to buy, they are now able to transact more quickly and in larger quantities than before.
FT Chinese: In your opinion, how will the future of the cryptocurrency and blockchain industry be shaped in the future? How does WOO relate to the concepts and development trends of Web3?
Jack Tan: Its really the same vision and dream that I had when I first entered this industry full-time, and it was so attractive to believe that there could be a trustless system that was robust and reliable and not controlled by any government or regulatory agency, and it was Private and free, use is not free, but is basically freely traded. This has attracted many people into the industry and WOO is working hard to promote the development of the industry in various ways. But there are still a lot of trust issues in the industry right now. Therefore, we want the WOO brand to be a bastion of trust and hope. In this way, people can live a more colorful life in Web3. In the longer term, I think if decentralized finance eventually surpasses centralized finance, it will be because it provides more opportunities. Whether you are an entrepreneur, investor or trader, there are countless opportunities in the decentralized finance field. opportunities.
FT Chinese: DeFi has achieved tremendous development in recent years. What are WOO’s plans and contributions to promoting the DeFi ecosystem, and what are your views on the future of DeFi?
Jack Tan: In the long term, DeFi will surpass CeFi, but before that, we need to build a lot of infrastructure first. I think many investors become overly optimistic because they are attracted by various related narratives, but the development of truly useful technology takes longer. At present, DeFi is not friendly to ordinary users because its use process is too complicated and the risks are relatively high. The most important thing we can do now is help build that infrastructure and develop human-centered applications on top of it so that ordinary users can actually use these technologies. The way it is currently developing, DeFi is more like being designed for machines and more suitable for AI to operate, rather than serving ordinary users. I think the bigger challenge is to abstract these DeFi applications and make the technical details transparent to users, so that everyone can enjoy the benefits of DeFi without even knowing it. This seamless integration, if realized, will work like magic and see DeFi surpass CeFi in transaction volume and revenue.
FT Chinese: What do you think of the advantages of developing cryptocurrency in Hong Kong and Singapore?
Jack Tan: Some of our core team members choose to live in these cities and are very satisfied with life there. First, because these places are rich in capital, they provide a very safe environment for people. You don’t need to worry about social unrest or encountering gratuitous violence on the streets. So its a very safe environment for kids, it attracts a lot of entrepreneurs, low taxes, venture capitalists. These cities are indeed ideal places to live, but I think the only downside to both places is that the cost of living is very high. For budding crypto entrepreneurs or traders and investors just starting out in the industry, settling here and maintaining a high quality of life can be very challenging. And, in these more developed economies, large, established crypto companies can sometimes act too conservatively. They don’t challenge the status quo as aggressively as smaller, newer crypto companies.
FT Chinese: What do you think of the web3 ecosystem that is partly dominated by Chinese?
Jack Tan: Personally, I would look at the team and what they actually built and their ability to create narrative and brand. I think thats very powerful. But after the initial assessment, it actually needs to be measured from a technical perspective. I prefer teams that are good at creating narratives, capturing narratives, and building technology that people will use. I think the tokens tell a story about how investors and the community feel about this team and their vision, the product theyre making. If the coin stays relatively strong against the market, against Bitcoin, over multiple cycles, then that could be a very, very strong team because it keeps adding more confidence to the system.
FT Chinese: How do you view the development prospects of artificial intelligence in the field of cryptocurrency?
Jack Tan: I think, frankly, AI is going to be in every industry, whether its agriculture, machinery or education. It will be popular in every field, and the same is true in the Web3 field. So, internally, we use AI tools to design, facilitate communication, aid memory, and assist with brainstorming. But now there is a point of discussion about who will control the computing power of these AI systems. How to ensure the fairness of this control? How to make it transparent, powerful and fair? Those in the cryptocurrency space believe blockchain is the solution. This is something we are studying and exploring in depth. We attempt to provide our user community with opportunities that we believe are legitimate.
As an exchange, we are constantly seeing new discussions ranging from non-fungible tokens (NFTs) to artificial intelligence to BRC 20. We must quickly understand these and determine whether they have the potential to persist or are simply vehicles for speculation. I personally believe that AI infrastructure does have potential and it should be as decentralized as possible. If the basics are sound, technical issues can be addressed to ensure it operates effectively. So Im optimistic about this view.
FT Chinese: Can you predict the future market for us? Will 2024 be a bull market?
Jack Tan: I think the difference between 2024 and recent years is that in the past it was mostly narrative and monetary policy driven, right? The interaction of narratives with currency cycles produces many bull and bear market cycles. And during a bear market, its easier to show whos really building, whos a scam, and whos a fraud. In 2024 and beyond, there will be more practical technologies and applications. To give you an example, if blockchain can really become a big part of AI, then the narrative here and the technology thats really being built will create a cycle of its own. I dont think its even going to be affected that much by monetary policy, for example, if the Fed raises interest rates by 50 basis points or 1%, it doesnt really affect this very strong belief system. So I think were going to see a lot more of that in 2024, 2025, and maybe even in the future.
