Wu Te scene: Rich Teo: blockchain can reduce the possibility of future financial crisis

Babbitt's live report, #2019 World Blockchain Conference·Wuzhen# Today's wonderful continues, sub-forum "Block Chain Events: New Hotspots and Explorers" officially opened. On the round table with the theme "Exploring the Global Blockchain Market", Paxos co-founder Asia CEORich Teo said that an important obstacle to the large-scale application of blockchain is people. If you believe a company, an organization or a government regulatory agency, if the money is gone, look for the bank; if there is no goods, look for an e-commerce, this is a very habitual process. Therefore, a decentralization does not require a company to assume trust. This is a very big change, or there is a way to go. He believes that in the future, the blockchain will have more assets that we use and see on the chain every day. There are many advantages here: first, to increase liquidity in a large amount; second, to reduce borrowing costs. Together, the two may make our financial system more transparent and safer, reducing the likelihood of a major financial crisis in the future.