Zhao Changpeng, CEO of the world’s largest cryptocurrency exchange Binance, said in a speech at Davos that the industry should focus on the evolution and future potential of blockchain technology itself.
Brynley Lill, Head of Blockchain and Digital Assets at the World Economic Forum, shared a similar view, particularly regarding sustainability efforts and the application of blockchain in the environment.
In a Davos interview with Forkast.News Editor-in-Chief Angie Lau, Llyr argued that 2023 should see more real-world adoption of blockchain technology. His Q&A below has been edited for clarity and length.
Angie Lau: What do you see as the hottest issues after Davos, and what are people most concerned about?
Brinley Lil: I think the throughline was about case studies, real-world case studies, enough technical theory, but that’s interesting.
Lau: I thought one of the biggest points was interoperability. There are different ecosystems, but we are all part of the global digital economy. When it comes to transitioning from the old world to the new, if that interoperability doesn’t exist, will liquidity be trapped in the old ecosystem?
reel: yes. I think that’s exactly right. And this is where the work comes in and why the forums are so useful. Because we bring these different voices together to come up with an interoperability solution. We are global because we are not a small village to ourselves.
Lau: 2022 started with Terra Luna and ended with FTX. Financial institutions may have withdrawn their interest in cryptocurrencies as a speculative alternative asset, but they have not withdrawn their interest in investing in blockchain. Technology did not fail.
reel: It’s about what blockchain can and can do and I’m still seeing a lot of enthusiasm there. increase. We work with entrepreneurs all over the world, currently focused on the United States and will continue to expand. Many use cases and many developers continue to be energized and working on these projects. And I think you’re still seeing money coming in to them.
Lau: How do you ensure a transition to a digital economy that embraces the many, not the few, as new participants enter the space?
reel: First, do we all need to corral together? Maybe not. So, some of the benefits of distributed systems are that you get different perspectives and there is a lot of diversity in what is being developed. So I think there is something to be said for maintaining that diversity. Not everyone should be on her one file line. Another thing is how do you get there? I think we will follow the path of the user. If people realize that using these products can make a difference in their lives, and if they start using them and see where they’re being adopted, then I think that’s where we’re going.
Lau: Where are you headed in 2023 as you lead these global conversations?
reel: I see some really interesting work in the area of sustainability and the environment. We’ve already focused on that, but this week I made an even more exciting connection about it. Some very interesting ideas and proofs of concept have come out of it and many people are interested in trying very interesting business cases. So I think this year will be a year of real action, development, research, research.