The SFF 2021 Singapore Fintech Festival is grandly held in Singapore, and the theme of this time is “Web 3.0”. Justin Sun, the founder of TRON, attended the SFF 2021 Singapore Fintech Festival and delivered a keynote speech. The speech mentioned that Web 3.0 is a bridge to the digital future. Now human beings are experiencing the digital migration of the world. In fact, the digital world also needs a bridge. The connection symbolizes the evolution of civilization, and Web 3.0 is this bridge.
The conference examined three key factors that may reshape financial services in the next decade. Including the core design of reconfiguring financial products and service delivery through embedded finance (EmFi), decentralized finance (DeFi) and digital currency, integrating ESG into financial services, and the widespread adoption of basic digital infrastructure (digital identity, trusted data) Exchanges, interoperable payment systems and consent systems).
TRON will build a bridge to the digital future
At this conference, Justin Sun, the founder of TRON, gave a speech on how web 3.0 bring all fields together by all infrastructures for 7 billion people. Justin Sun said in his speech that the most important character for web 3.0 is smart contract , which provides a lot of possibilities for developers, which means everyone can build Dapps on TRON covering almost all kinds of industries including financial industry. He said that people can trust all the math-based smart contract, trust all the system without any origination’s permission, for example, compared to SWIFT, TRON network is more permissionless, can transfer USDC, USDT ,TUSD etc. instantly with extremely low fees.
TRON has developed rapidly in a few years and has become a leading company in the industry and one of the world’s three largest public chains. Currently, TRON has 61 million users and the number of transactions has exceeded 2.5 billion. The circulation of stablecoins ranks first in the world, and a complete blockchain ecosystem has been formed, with businesses covering DeFi, NFT, stablecoins, distributed storage protocols, etc.
In the face of rapid growth in the number of public chain projects, technological incompatibility, and no interconnection between projects, ecosystems and competition have led to the isolation of assets, applications, data, and many other factors that inhibit the growth of the entire industry. To solve these problems, TRON launched the first heterogeneous cross-chain interoperability protocol BTTC on October 30.
The infinite future of TRON ecology
Under the framework of the overall ecosystem, TRON has enriched the ecological layout of its products. According to the real-time adjustment of industry development, with the purpose of “exploiting and innovating, investing in the future”, we will formulate smart contracts that grow together with users, achieve profitability, and move forward steadily. With the increasing mainstreaming of the blockchain industry, the global cryptocurrency market is booming. In the field of DeFi, TRON has already made its debut in the industry, and TRON has formed a DeFi ecological pattern.
TRON, which has entered a period of rapid development, has achieved great success in many popular tracks such as Metaverse, DeFi, and stable coins, and has risen in an all-round way. At present, the circulation on the chain reaches 33 billion U.S. dollars, occupying half of the global USDT in one fell swoop. At the same time, TRON DeFi lock-up value (TVL) ranks among the top three in the world, with a peak value of over 14 billion U.S. dollars during the year. According to relevant data analysis of lock-up and transfer activities on the chain, compared with other mainstream public chains, the reasonable valuation of TRX has more room for improvement.
The disruptive potential of BTTC is an important example of the ecosystem envisioned by Web 3.0.
BitTorrent Chain, ecological plus cross-chain, this project will be the first scalable heterogeneous cross-chain interoperability in the blockchain network. In other words, with the help of BitTorrent Chain, users can transfer mainstream assets between TRON, Ethereum and BSC in a decentralized manner without restrictions. In addition, in the near future, BitTorrent Chain will be compatible with more public chains and complete the mission of connecting all chains. At this point, BitTorrent Chain has officially opened a new era of full-chain interconnection.
The spirit of BTTC is defined as a decentralized storage network designed to store the most important information of mankind. In other words, this transformative technology has the potential to promote the restoration of user trust and completely change the way individuals and businesses share, store, and move data in the online environment.
TRON’s ecological innovation will also connect symbolizing the evolution of civilization and build a bridge to the digital future.