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December 22, 2022

Blockchain Thailand Genesis 2022: Digital Assets Outlook and Revolution

Tridbodi Arunanondchai, Velo’s Vice-chairman, and Woraphot Kingkawkantong, Head of Investment at Beacon VC, shared their takes on the outlook of digital assets and revolution during the Blockchain Thailand Genesis 2022.

The Blockchain Thailand Genesis 2022 took place on November 26-27. Velo participated as one of the official sponsors and speakers for the event. Tridbodi Arunanondchai, Velo’s Vice-chairman, and Woraphot Kingkawkantong, Head of Investment at Beacon VC, shared their takes on the outlook of digital assets and revolution.

Tridbodi Arunanondchai, Velo’s Vice-chairman, and Woraphot Kingkawkantong, Head of Investment at Beacon VC, shared their takes on the outlook of digital assets and revolution at the Blockchain Thailand Genesis 2022 on November 26-27, 2022.

No. of Wallet holders continued to grow, despite the Crypto Winter.

Despite the global sentiment, more Thais own digital asset accounts. As more people become investors and crypto traders, it is essential to educate oneself before investing. There are many resources available, but everyone should ensure that those resources are accurate and trustworthy. As leaders of prominent crypto projects, they believe it is part of their responsibility to ensure the projects always communicate the right message and educate their users about the opportunities and risks of investing in crypto.

The new digital assets are trustless, formless, borderless, and, therefore, limitless.

Blockchain enables trustless, formless, borderless assets and makes them limitless. Trustless make blockchain transaction transparent. Formless means that assets are interoperable across platforms and networks, allowing institutions and individuals to move assets worldwide.

Velo Labs’ vision is to apply blockchain technology with real-world use cases, so intuitively that end users don’t have to know that they’re using blockchain-powered products. For example, If amulets can be fractionalized and traded on the blockchain, they can access more significant numbers of traders and become more liquid.

More regulations to address security concerns are the future of digital assets.

The leading concern for digital assets is security. People are hesitant to fully adopt blockchain technology because it is relatively new and has many hacks. The panelists shared that the problem that has caused a bad reputation for digital assets and blockchain is the people involved. Blockchain is transparent and cannot be manipulated.

The speakers believed CeFi and DeFi would co-exist. Private sectors will play more active roles alongside regulators in this ecosystem, and the regulations will become dynamic with international and national cooperation in building a solid infrastructure. The free flow of money and assets is like what we have right now with the free flow of information through the internet.

Web3 is a necessary step of evolution from which businesses and individuals will significantly benefit.