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cosmos
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the-open-network
Toncoin (TON) $ 2.73 0.42%
leo-token
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okb
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ethereum-classic
Ethereum Classic (ETC) $ 17.70 1.79%
monero
Monero (XMR) $ 206.28 1.11%
stellar
Stellar (XLM) $ 0.27128 5.52%
filecoin
Filecoin (FIL) $ 2.70 2.81%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.53 8.73%
aptos
Aptos (APT) $ 5.02 2.51%
lido-dao
Lido DAO (LDO) $ 0.871849 3.27%
arbitrum
Arbitrum (ARB) $ 0.337489 2.53%
hedera-hashgraph
Hedera (HBAR) $ 0.186355 6.07%
near
NEAR Protocol (NEAR) $ 2.54 0.26%
true-usd
TrueUSD (TUSD) $ 0.998507 0.07%
vechain
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internet-computer
Internet Computer (ICP) $ 5.37 1.47%
crypto-com-chain
Cronos (CRO) $ 0.079812 2.03%
quant-network
Quant (QNT) $ 73.61 1.98%
apecoin
ApeCoin (APE) $ 0.491208 4.56%
algorand
Algorand (ALGO) $ 0.191306 1.53%
the-graph
The Graph (GRT) $ 0.087836 4.26%
eos
EOS (EOS) $ 0.490637 1.43%
the-sandbox
The Sandbox (SAND) $ 0.269541 4.65%
decentraland
Decentraland (MANA) $ 0.263543 5.96%
aave
Aave (AAVE) $ 162.82 5.04%
blockstack
Stacks (STX) $ 0.606108 3.83%
theta-token
Theta Network (THETA) $ 0.852695 5.04%
elrond-erd-2
MultiversX (EGLD) $ 17.35 4.69%
tezos
Tezos (XTZ) $ 0.668464 2.71%
flow
Flow (FLOW) $ 0.388224 2.74%
rocket-pool
Rocket Pool (RPL) $ 5.06 3.73%
axie-infinity
Axie Infinity (AXS) $ 3.09 2.56%
frax
Frax (FRAX) $ 0.998241 0.04%
immutable-x
Immutable (IMX) $ 0.510864 4.30%
paxos-standard
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neo
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radix
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Conferences

We Don’t Have Time

TOKEN 2049

 

Originally aired on September 18, 2023

 

The panel discussion on “The Future of Crypto: Regulatory Uncertainty and the Path Forward” at TOKEN2049 Singapore 2023 focused on the current state of cryptocurrency regulations, the path forward for the industry, and the challenges and opportunities that lie ahead. The panelists discussed their views on the regulatory landscape in the US, the progress made in other jurisdictions, the need for transparency and investor protection, the impact of regulations on profitability, and the future of the industry. While there is optimism about the direction of the industry and the potential for regulatory clarity in the future, there is also a recognition of the challenges and the need for collaboration between regulators and industry players.

 

Breakthrough in US regulatory landscape:

  • Brad Garlinghouse of Ripple believes that there has already been a breakthrough in the US regulatory landscape, especially with recent court rulings regarding the SEC’s case against Ripple and Grayscale.
  • He sees the need for Congress to take action to provide further clarity and regulation for the industry.

Impact of regulations on the market dynamics:

  • Hong Fang of OKX highlighted the impact of regulations on market dynamics, particularly in jurisdictions like Hong Kong, where strict regulations limit the number of tokens that can be traded.
  • The panelists discussed the need for clarity and unanimous guidance at the federal level in the US to drive market growth and attract institutional investors.

Building trust and accountability in the industry:

  • Panelists emphasized the importance of building trust and accountability in the industry through transparency, customer protection, and responsible engagement with regulators.
  • They discussed the role of technology in enhancing transparency, such as the use of proof of reserves to ensure the backing of assets and the importance of secure custody solutions.

The role of regulation in fostering innovation:

  • The panelists acknowledged the need for regulation to protect investors and foster innovation. However, they also highlighted the challenge of striking the right balance to avoid stifling the growth and development of the industry.
  • They emphasized the importance of new rules that address the unique characteristics of blockchain technology and digital assets, rather than applying existing rules designed for traditional finance.

Outlook on the Bitcoin spot ETF and other developments:

  • The panelists shared their perspectives on the Bitcoin spot ETF and its potential approval in the US. While they acknowledged the increasing likelihood of its approval, they also highlighted the current regulatory stance and the need for more progress in regulatory clarity.
  • They discussed the potential impact of a Bitcoin spot ETF on the market, including increased liquidity and institutional investor participation.

Looking ahead:

  • The panelists expressed optimism about the future of the industry and the potential for progress in regulations.
  • They highlighted the importance of continuous engagement with regulators, focusing on technology-driven solutions, and the need for industry-wide agreement on fundamental regulatory frameworks.
  • They also discussed the potential for major developments in the stablecoin business, layer-2 scaling solutions, and the balance between transparency and privacy in the industry.

Speakers

Brad Garlinghouse
CEO
Ripple
Hong Fang
President
OKX
Mike Belshe
Co-Founder and CEO
BitGo
Annabelle Droulers
TV Reporter
Bloomberg

 

 

Originally aired on September 18, 2023

Speaker

Balaji Srinivasan
Founder, Investor, and Author
thenetworkstate.com
Keynote

 

Balaji Srinivasan, the Founder, Investor, and Author of The Network State, discusses the possibility of starting new countries as a continuation of the entrepreneurial spirit seen in the creation of companies, communities, and currencies. He introduces the concept of a network state, which is a decentralized country similar to how Bitcoin operates as a decentralized currency. Srinivasan explains that a network state is a distributed country with a population, income, and real estate footprint spread around the world but unified conceptually. He argues that it is possible to start new countries by building traction and eventually attaining diplomatic recognition. Srinivasan highlights the value of network states for individuals seeking alternative options to failed states and the potential profitability of such ventures.

 

The concept of a network state

  • A network state is a decentralized country that is distributed around the world but unified conceptually.
  • It has the population, income, and real estate footprint of a traditional nation-state but is not bound to a specific physical location.

Building a network state

  • Starting with a small group of people, a network state can gradually grow by recruiting more individuals and coordinating activities.
  • Crowdfunding, purchasing properties together, and building a cohesive crypto tribe are some examples of how network states can be formed.

The size of network states

  • A network state with a population of 1.7 million people would fall within the range of small countries.
  • Most countries have populations of less than 10 million people, with many having less than one million.

Attaining diplomatic recognition

  • With sufficient traction and persistence, network states can obtain diplomatic recognition from other countries.
  • By inking deals and forming partnerships, network states can establish their legitimacy and gain recognition over time.

The need for network states

  • Network states provide alternative options for individuals facing problems such as inflation, riots, and food shortages in their current countries.
  • They cater to both the powerless, who seek a way out of failed states, and the power users who want to push boundaries and create pro-technology states.

The profitability of network states

  • Network states have the potential to monetize on a per-person level, offering services such as Discord subscriptions and rent.
  • By materializing decentralized autonomous organizations (DAOs), network states can create value for users and foster a sense of community.