This article is an editorial, written and provided by TRON. It does not represent the position of TRON, nor is it investment advice, purchase or sale advice. See the liability warning at the end of the article for details.
On December 13, at the Taipei Blockchain Week (TBW) event, Justin Sun, founder of TRON and member of the Huobi HTX Global Advisory Board, shared his insights on the future development of the encryption industry through a video speech. .
In his speech, Justin Sun first expressed his gratitude to the guests and emphasized that 2024 will be an extremely important year in the history of the encryption industry. He pointed out that many major events affecting the future direction of the industry are taking place, and at the same time, new tracks and products are constantly emerging. This speech attracted the attention of many industry experts and blockchain enthusiasts and became a highlight of this event.
Justin Sun mentioned that in a market environment lacking a core narrative, Meme culture supports the development of the market . He believes that Meme coin not only reflects the diversity and interest of the crypto community, but also reflects the inclusivity of crypto assets. SunPump, the Meme coin fair launch platform supported by TRON, aims to inject vitality into the sluggish market and activate more users and developers. Through on-chain data, we can see that after the FOMO period caused by SunPump, "water memes" on major public chains broke out one after another, promoting the development of the crypto bull market.
Next, Justin Sun discussed the development of the Bitcoin ecosystem. He pointed out that this year’s market was led by Bitcoin, but after the craze for inscriptions and runes, the development of the Bitcoin ecosystem stalled . He proposed TRON’s Bitcoin second-layer solution, which aims to open up the cross-chain connection between Bitcoin and the TRON network, and cooperates with multiple Bitcoin second-layer protocols to inject more than $60 billion worth.
Justin Sun emphasized that to achieve seamless integration of information and assets between Bitcoin and non-EVM ecosystems such as Ethereum, it is difficult to achieve it by simply transforming the BTC mainnet itself. He suggested developing an innovative virtual machine that integrates Bitcoin nodes into the Ethereum virtual machine so that developers can build compatible smart contracts and maximize user asset security.
Justin Sun also shared the new concept of PayFi . He believes that PayFi represents a new financial market construction model, creating financial primitives and product experiences around the time value of money. PayFi aims to build a programmable currency system that provides users with economic sovereignty and self-custody capabilities. He pointed out that through innovative scenarios such as pledging to generate interest for consumption, PayFi can effectively solve some of the pain points faced by Web3 industry practitioners, such as the problem of capital flow rupture.
He further mentioned that the new agreement that uses traditional corporate "accounts receivable" as assets to be mortgaged on the chain for lending will help companies maintain stable cash flow. Overall, PayFi can not only enhance the diversity of underlying assets in the crypto market, but also benefit a large number of small and medium-sized enterprises, which is consistent with TRON's vision of achieving financial freedom for 8 billion people around the world.
Justin Sun finally said that he is confident in the future development of the encryption industry and looks forward to witnessing the glorious chapter of the cryptocurrency era with more friends. His speech not only provided participants with profound industry insights, but also demonstrated TRON’s efforts and achievements in promoting the development of blockchain technology.
Taipei Blockchain Week 2024 will be held at Taipei Songshan Cultural and Creative Park from December 12th to 14th, with the theme of "Onboard". The event spans 3 stages, features over 200 speakers, and over 60 sponsors and partners dedicated to advancing Web3 adoption and innovation.
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