OKX CEO: More and more traditional financial institutions will build Dapps based on encrypted networks

OKX CEO Star posted on social media that the approval of the Bitcoin spot ETF means that traditional financial institutions are accepting the encryption industry. Cryptocurrency is the same as the internet, mobile technology and artificial intelligence. The advantage of encryption is not that it is against regulation or anonymity. It is a revolution based on basic technology. The advantage of cryptocurrency is not that it is anonymous. On the contrary, all transactions are permanently recorded on the blockchain and can be tracked. Because there is an on-chain ledger, encryption companies can Better transaction monitoring and suspicious activity detection than banks. It’s just that the industry is still young and needs more time to establish these compliance systems. While some bad actors have damaged the industry’s reputation, the real advantages of crypto are self-custody and transparency that help build trust with customers. More and more traditional financial institutions will build Dapps based on encrypted networks and benefit from these advantages.