Sam Bankman-Fried, CEO of digital asset exchange FTX. highlighted the use cases for blockchain andexplainhow certain industries will benefit from this technology integration. which from the information of Bankman-Fried Blockchain technology can simplify payments, fix stock market glitches, and revolutionize social media.
Bankman-Fried It said there were a lot of problems with cross-border payments. He gave several examples that highlight “times” of waiting and intermediaries that raise fees and often increase transaction uncertainty.
“blockchain solves longstanding financial problems” by replacing the traditional, time-consuming process with a simple three-step process where the sender creates the wallet. wallet creator and send balance by Bankman-Fried argued that this would reduce wait times, override the fee structure, and correct the uncertainty factor.
The FTX CEO also pointed out that blockchain can change the entire stock trading process. which has a reasonable flaw thatstock tradingtokens on blockchain A transaction can be completed within seconds. and reduce uncertainty in settlement with a much lower fee structure
Finally, Bankman-Frie says social media can’t work together. In which the executives mentioned that one user has to use the app. Many different social media because they can’t talk to each other. Blockchain could make social media more interoperable. And making it possible to send messages across different platforms, executives say using public networks can relay messages from one social platform to another.
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