China News by Thebittimes.Com

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Web3, akin to numerous groundbreaking innovations, has been crafted with the explicit goal of improving and enriching our daily lives. It stands at the forefront of technological advancements that promise to reshape how we interact with digital systems and services.  You might also like: Beyond the hype: Web3 is in dire need of a rebrand | Opinion What makes web3 particularly noteworthy is its ability to transcend the boundaries of traditional financial institutions, as many of them have already discerned the potential for symbiosis with these cutting-edge technologies. Consequently, they are proactively delving into collaborative efforts and seeking ways to seamlessly integrate web3 into their core operations. This intriguing interplay between web3 and traditional finance is shaping a new landscape that is bound to inf...

Despite taking issue with tokens created by centralized exchanges, BlackRock’s CEO sees securities tokenization as the next evolution of the financial market. The CEO of the worlds largest asset management firm, BlackRock, believes that the reason why FTX failed is because it created its own FTX Token (FTT), which was centralized and therefore at odds with the “whole foundation of what crypto is.” Larry Fink, who serves as chairman and CEO of the $8 billion investment company — made the remarks during New York Times’ 2022 Dealbook Summit held on Nov. 30, and added that despite his belief that FTX's own-created token caused its downfall , he believes that crypto and the Blockchain technology which underpins it will be revolutionary . BlackRock CEO Larry Fink speaking at the 2022 DealBook Summit. Source: New York Times. Centralized exchange tokens, such as Binance Coin (BNB) and fellow exchange Crypto.com’s Cronos (CRO), account for over $57 billion of the $862 billion total crypto...