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FTX CEO talks stablecoin, regulations, and gaming
FTX CEO Sam Bankman-Fried, popularly known as SBF, talked about a number of things about the crypto industry, bringing some important factors into the light. SBF talked about the necessity of regulations, the presence of stablecoins, and the potential of NFTs and blockchain-based gaming.
FTX CEO produces a 'roadmap' for crypto
In a series of tweets, the FTX CEO talked about crypto and how the industry can be improved with increased oversight and improved functioning. He noted that the major components of the entire industry come from smart contracts."I think it's hard to overstate how important this was for the space: it's what brought crypto from digital gold to web3/metaverse/defi/etc.," he said.The FTX CEO pointed out that the current capacity of 50,000 transactions per second is not enough and that there are a number of traditional; platforms that do millions in a second.
He also said that the NFT industry and blockchain gaming followed by the concept of metaverse are all highly beneficial, "but this only makes sense if it makes the virtual worlds more engaging, not less."
Absence of regulations
The FTX CEO said that the absence of regulation is a major gap in the growth of the crypto space, which needs to fill "allowing liquidity to move onshore." Furthermore, SBF pointed out that stablecoins like Tether need to be transparent in their proceedings and establish "a reporting/transparency/auditing based framework to ensure they are backed as they say they are."The FTX CEO further stated that the eventual goal is "to emerge with customer protection and regulatory clarity in a way that consumers and institutions alike feel comfortable interfacing with the digital asset ecosystem."
"The real goal, here, is to take a great game and integrate NFTs in a way that makes the game better," said FTX CEO Sam Bankman-Fried.
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