OKX CEO Star: Believes more traditional financial institutions will build dApps on top of cryptographic networks and benefit from them.

On January 12th, BlockBeats reported that Star, CEO of OKX, stated on social media that the approval of a Bitcoin spot ETF indicates that traditional financial institutions are accepting the cryptocurrency industry. Cryptocurrency is a revolution based on fundamental technology, much like the internet, mobile technology, and artificial intelligence. The advantages of cryptocurrency are not opposition to regulation or anonymity, as all transactions are permanently recorded on the blockchain and can be traced. In theory, because of the existence of the blockchain ledger, cryptocurrency companies can perform transaction monitoring and suspicious activity detection better than banks. However, this industry is still young and needs more time to establish these compliance systems. Additionally, Star stated that some bad actors have damaged the reputation of the industry. The true advantage of cryptocurrency lies in self-custody and transparency, which undoubtedly helps build trust with customers. I believe that more and more traditional financial institutions will build Dapps based on cryptocurrency networks and benefit from these advantages. I am very proud to have worked in the cryptocurrency industry for 11 years and thank OKX's customers, partners, and employees for growing together.