Justin Sun, the visionary founder of TRON Network and a prominent Huobi Global Advisory Committee member, recently participated in an enlightening conversation at Korea Blockchain Week 2023. The dialogue, "Asia's Ascendance, Milestones, and Innovations," occurred between Justin Sun and Ronnie Levi, Senior Account Director at MarketAcross.
Later on, an Attirer representative, Mrs. Hoan-My Tran, had the honor of attending an engaging interview with Justin Sun, shedding even more light on his perspective on the global cryptocurrency landscape. Our goal is to equip readers with the essential knowledge required to navigate the constantly evolving landscape of blockchain technology and its diverse applications.
The Role of Cryptographic Technology on a Global Scale
Justin Sun highlighted the global significance of cryptographic technology despite aggressive regulatory measures in the United States. He emphasized that cryptographic technology remains a global strategic initiative and discussed how dollar-pegged stablecoins continue to gain momentum in Asia due to the region's regulatory landscape. According to Sun, this trend is set to persist as we transition into the era of Web3.
The Rise of Stablecoins in Asia
Justin Sun also shed light on the nuances of the South Korean cryptocurrency market, describing it as somewhat insular regarding Decentralized Finance (DeFi). However, he emphasized TRON's commitment to South Korea, which boasts the largest circulation of USDT within the TRON network. TRON is poised to champion stUSDT as the leading DeFi protocol in the region.
Asia's regulatory landscape, especially in nations like South Korea and China, has played a pivotal role in the dominance of dollar-pegged stablecoins. Justin Sun explained that more individuals in Asia opt to hold stablecoins, creating substantial opportunities for crypto firms.
Justin Sun touched upon the competitive dynamics between Hong Kong and Singapore within the Asian cryptocurrency market. While Hong Kong faced challenges due to evolving cryptocurrency policies in China, recent regional developments have signaled a resurgence in Hong Kong's appeal to crypto enterprises. This rivalry between Hong Kong and Singapore is poised to invigorate the global cryptocurrency industry.
Regulatory Shifts and Decentralization
The global cryptocurrency landscape is undergoing turbulent shifts, largely influenced by regulatory climates and waves of innovation. Actions taken by the United States Securities and Exchange Commission (SEC) are driving certain projects to reallocate their focus towards Asia and other regions, contributing to greater decentralization.
Justin Sun stressed the importance of global strategies for cryptographic platforms, urging them to allocate resources not only in the United States but also in regions like South Korea, Japan, and Southeast Asia to stimulate the accelerated growth of the worldwide cryptocurrency market.
The Cryptocurrency Sector's Resilience and Future Growth
Despite a bear market that has persisted for over a year, Justin Sun maintains an optimistic outlook, forecasting that the cryptocurrency market will enter a new bull cycle within the next two years. He highlighted the industry's resilience and the emergence of innovative products like stablecoins, which have enabled convenient, cost-effective on-chain transactions.
TRON's Robust DeFi and Stablecoin Ecosystem
TRON stands out with its exceptionally robust DeFi and stablecoin ecosystem. Justin Sun emphasized the platform's commitment to fostering collaborative user experiences to mitigate transactional costs, ultimately benefiting the community. He expressed TRON's willingness to assist independent developers in building on the TRON platform, fostering innovation and growth.
Ongoing Innovation in the Cryptocurrency Sector
Justin Sun pointed out that the cryptocurrency sector is characterized by constant innovation, with significant daily developments. He stressed the importance of staying engaged in the industry, citing recent advancements in real-world assets, zero-knowledge proof, and liquid staking derivatives, which may not have gained widespread attention due to the prevailing bear market.
Supporting and Collaborating with Developers
During the bear market, Justin Sun emphasized the importance of continuous development and support for companies and projects facing challenges. He disclosed his involvement in assisting the DeFi protocol Curve in resolving financial complications and encouraging acquaintances to invest in Curve. He emphasized the vital role of developers in the industry.
Global Expansion and Inclusivity
Justin Sun concluded by highlighting TRON's commitment to global expansion and inclusivity. He outlined plans to collaborate with developers in Korea and expand the platform's footprint in the region, particularly in the gaming sector. TRON's goal is to create a vibrant developer ecosystem in Korea.
About TRON Network
TRON is dedicated to accelerating the decentralization of the Internet via blockchain technology and decentralized applications (DApps).
Founded in September 2017 by H.E. Justin Sun, the TRON network has delivered impressive achievements since MainNet's launch in May 2018. July 2018 also marked the acquisition and the ecosystem integration of BitTorrent, a pioneer in decentralized services boasting nearly 100M monthly active users.
The TRON network has gained incredible traction in recent years, with over a million users on the blockchain and upwards of a billion transactions. In addition, TRON hosts the largest circulating supply of stablecoins globally, overtaking USDT on Ethereum in April 2021. The TRON network completed full decentralization in Dec 2021 and is now a community-governed DAO.
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