Conference Highlights:
Aptos CEO Emphasizes: Tokens Are the Core of Blockchain Infrastructure Operation
Clear Regulation Is Key for the United States to Maintain Innovation and Retain Developers
Aptos Has Been Implemented in Multiple Real-World Scenarios Such as Payment, Identity, Finance, and Entertainment
Blockchain Can Be Used in Remote Areas to Achieve Payment Experiences of "Offline Interaction, Online Chaining"
On June 5th, Aptos CEO Avery Ching appeared at a U.S. Congressional hearing and testified on the major topic "The Future of U.S. Innovation and Digital Assets: From Blueprint to Functional Framework", calling for a clearer regulatory framework for the digital asset market.
Avery's speech was highly informative and easy to understand. Web3 investors and developers are strongly recommended to watch the complete replay: https://www.youtube.com/live/14UhCiMTn0Q?si=OIELerblod4xlFzM
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating to English.]Many projects we have collaborated with in the past, including our own, found it difficult to understand the chaotic rules and regulations, spending significant time and resources trying to comprehend them, and ultimately being forced to issue tokens under many uncertainties.
Other projects have even fewer resources than we have, and they have been compelled to struggle to move outside the United States or find alternative methods to address this challenge.
In summary, clarity will be very helpful for innovation in the United States.
Q: How can the accessibility of digital assets be ensured? Especially in remote rural areas with limited network and financial knowledge, such as Hawaii
I believe education is an important component. Last year, I attended the first Hawaii Blockchain Summit and have been exploring discussions on the island about license tokenization and using blockchain technology to support different types of value exchange.
However, I also agree with your concerns about the lack of broadband access, with many people in Hawaii finding it difficult to experience and benefit from this technology.
Earlier, I mentioned that blockchain is undergoing a transformation, and perhaps even without internet access, you can still interact, and then confirm these transactions on the blockchain when the user has internet.
Therefore, Aptos Labs is exploring these technologies from its own perspective to ensure that this can truly be achieved in the future.
III. User Privacy Protection
Q: How do you address privacy for US citizens?
Today, most blockchains support very transparent operations, which means any transaction that occurs will be completely accessible, and everyone can see it. But this also means that you know these transactions cannot be changed, revoked, or rolled back.
At the same time, we are very accustomed to privacy when buying coffee or a sandwich. Additional blockchain features are being built, with Aptos Labs and other companies exploring or already having prototypes that will support user privacy while complying with regulatory requirements.
So I believe we can have the benefits of transparency and also enjoy the benefits of privacy, while complying with regulatory requirements.
IV. Blockchain and Agriculture
Q: As everyone jokes, what is the relationship between Crypto and agriculture? Why is Crypto so critical to the future of agriculture?
The payment infrastructure on the blockchain is more efficient than traditional payment methods, allowing you to send money globally for a fee of 0.01 cents and settle within a second.
It is not limited to one field or another. I think for anyone operating a business or farm, being able to support this technology and build programmable applications is crucial.
This is not just about payments, but can have other use cases, and you can also have multiple accounts simultaneously, combining these ideas will be very useful for business operations.
V. FTX Incident and US Developers
Q: How do you view the FTX bankruptcy?
I believe the lack of clarity in regulation indeed led to the FTX bankruptcy.
Q: How can clear legislation ensure that the developer community remains in the United States?
As an entrepreneur, I can say that launching tokens in the United States is difficult. In 2022, we encountered many challenges and uncertainties when launching our own token.
We already know that the internet has produced many great innovations in the United States, from Netflix to Facebook, to Amazon and Google, and so on. I would love to see the next innovation iteration by entrepreneurs happening on Web3, and in the United States.
To achieve this, we must have clear regulatory provisions. The United States has millions of programmers who are going elsewhere and to other fields because Crypto today lacks clarity.
Conclusion
From financial technology to decentralized identity, from entertainment marketing to global payments, Aptos demonstrates the feasibility of blockchain technology in the real world. Avery's testimony in Congress is a microcosm of Aptos' builder perspective in promoting the "next generation internet". In the global race for the "next generation internet operating system", the Aptos CEO provided a coordinate system for developers and policymakers to build the future through a clear and rational voice.
About Movemaker
Movemaker is the first official community organization authorized by the Aptos Foundation, jointly initiated by Ankaa and BlockBooster, focusing on promoting the construction and development of the Aptos ecosystem in the Chinese-speaking region. As the official representative of Aptos in the Chinese-speaking area, Movemaker is committed to creating a diverse, open, and prosperous Aptos ecosystem by connecting developers, users, capital, and numerous ecosystem partners.
Disclaimer:
This article/blog is for reference only and represents the author's personal views, not the position of Movemaker. This article does not intend to provide: (i) investment advice or recommendations; (ii) an offer or solicitation to buy, sell, or hold digital assets; or (iii) financial, accounting, legal, or tax advice. Holding digital assets, including stablecoins and Non-Fungible Tokens, carries extremely high risks with significant price volatility and potential total loss of value. You should carefully consider whether trading or holding digital assets is suitable for your financial situation. For specific questions, please consult your legal, tax, or investment advisor. The information provided in this article (including market data and statistics, if any) is for general reference only. Reasonable care has been taken in writing these data and charts, but no responsibility is accepted for any factual errors or omissions.
