Crypto billionaire Sam Bankman-Fried is unveiling the most impactful use cases of crypto and blockchain technology.
In a new podcast interview Point Forward with NBA star Andre Iguodala, FTX CEO outlines use cases he believes give crypto “most of its power.”
“Basically, one of the things that is cryptography is a way to tokenize assets. And that’s obviously what happened with Bitcoin, you had a native digital asset that anyone could access and anyone could easily transfer to each other. And you might think of it a bit like gold, but you don’t have to deal with gold bars, with much, much cleaner access, easier access, and a complete and verifiable transaction history.
This is one aspect. Another aspect is the blockchain, it’s the underlying networks, which are really interesting, and what they are is, among other things, a way to have a complete network that anyone can log in and open an account, anyone can send resources to. anyone else instantly, cheaply, completely online, with just one click. Complete history of all this. In a way it’s a kind of perfect payment network. “
Bankman-Fried argues that blockchain is an “extremely cleaner and simpler way” to execute international remittances, which he believes currently suffer from huge fees and risk of theft.
The FTX CEO also notes that blockchain technology offers digitization, transparency, easy transferability and clear ownership of assets such as currencies, real estate, stocks and personal items.
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