The COO of Huobi exchange believes blockchain needs clearer regulations in order to get more mass adoption.
In line with Wallebi, many governments and institutions are attracted to the benefits of blockchain. It includes industries such as financial industry, healthcare, automotive, etc. They all show attraction to use blockchain technology for different purposes. In fact, blockchain provide an immune and transparent network to store and transfer data.
The COO of Houbi exchange thinks blockchain needs clearer regulations
The Huobi Global Group’s COO, Robin Zhu, believes the lack of clear regulation on blockchain by governments preventing this technology from mass adaption.
He commented his idea during the China Great Bay Area International Blockchain Week pre-event. He believes that if governments put clear regulations on blockchain, it will help this technology to get adopted by people faster.
Lack of regulation preventing blockchain from mass adoption
Zhu believes that hacking is not something people concern about. In fact, people are in doubt to use cryptocurrencies due to lack of defined regulations and infrastructure services.
He added that blockchain security is something, which everyone believes on it. But, people are in doubt to use cryptocurrencies. In fact, users cannot trust institutions and cooperates due to lack of clear regulations.
He added, although Bitcoin could become so famous among most people, still many don’t know that what they can do with Bitcoin? The industry requires building more user-friendly applications in order people can use cryptocurrencies more than ever.
blockchain needs clearer regulations; what is the crypto exchange role?
Zhu thinks that governments are aware of blockchain technology benefits. They all know that blockchain is an essential tool for industrial revolution and technological innovation.
He added, Houbi as one of the biggest crypto exchanges will take this opportunity in order to expand its services and provide much needed infrastructure.
Huobi has a university, which provides blockchain education to people from various backgrounds. They provide more than 100 free lectures to government employees as well as employees from middle-sized enterprises globally.
Zhu believes that these kind of activities will increase blockchain and cryptocurrency awareness. Additionally, it provides more experts and talents to the industry.