Web3 Trends & Opportunities (New Generation Innovators in Web3) ─ 2nd Project Pitching

Coinlive reporting at the “Web3 Trends & Opportunities” event in Singapore in which Coinlive plays host to our very first grand-scale summit! Shane Hong, Head of Strategy for DAO & KNC Tokenomics at KyberSwap shares about “Decentralised Exchanges: The Future of Crypto Trading?” He points out the implosion of FTX as well as its contagion, and shares that he was personally affected by it as it was a painful experience because he could not withdraw his funds. He moves to touch on the disadvantages of CEXs, like financial data being stored via centralised systems, need to trust the data by intermediaries, opaque operations with counterparty risk, limited access and monopoly over fees, and funds are controlled by a centralised middleman. He also shares about the benefits of blockchain and dApps over centralised applications: censorship-resistant/immutable, can verify the code so there is no need to rely on data from centralised intermediaries, transparent and open source distributed ledger, “permission-less” and accessible by any computer, and non-custodial so you fully control your own assets. DEX is a better, more secure and convenient way to trade crypto because it uses blockchain technology to facilitate trades; it only needs your own unique blockchain wallet, private key, and public address; and such. Lastly, he hopes that more DEXs appear in the space.