Lily emphasized that the foundation of cryptocurrency is its community. Since her entry into the crypto space in 2014, she has witnessed the evolution of this community, which she believes has a unique, grassroots feel compared to other exchanges. She highlighted that cryptocurrency isn't merely about technology; it's fundamentally about the people who participate in it. To her, transforming a community into a productive ecosystem that enables economic opportunities is crucial.
2. Vision for Economic Opportunities
Lily explained that the overarching aim of cryptocurrency is to create opportunities—both economic and otherwise—for people. She articulated that Bitcoin’s original vision was about providing financial access to anyone with an internet connection, which she sees as revolutionary. By emphasizing economic opportunities, she advocates for a focus beyond mere trading to include an on-chain economy that benefits a broader audience.
3. Differentiation and Technology in Blockchain
According to Lily, the technology behind any blockchain must be genuinely differentiated for it to succeed. She pointed out that while many blockchain solutions emerged post-2017, the real challenge is not just building technology but fostering a comprehensive developer community around it. She believes that a robust community, alongside good technology, is essential for any blockchain's ongoing evolution and success.
4. Interoperability in Blockchains
Lily underscored the importance of interoperability among different blockchain protocols. She remarked that as multiple new protocols and chains are developed, the need for seamless interaction among them becomes critical. By fostering interoperability, projects like Wormhole and LayerZero are paving the way for asset liquidity across various ecosystems, which she sees as vital for the industry's sustainability and growth.
5. Learning from Cities in Blockchain Development
Using cities like Dubai as a metaphor for growing crypto ecosystems, Lily noted that environments which proactively develop end-to-end economies could provide invaluable lessons for the crypto community. She applauded Dubai's strategic vision and execution, which have allowed it to evolve rapidly. This growth mindset can inspire similar advancements within crypto, emphasizing the collaborative spirit needed for sustainable community building.
6. The Value of In-Person Events
Lily articulated that events like Binance Blockchain Week serve crucial functions in bridging the remote-first culture observed in the crypto industry. While communication through online platforms is common, she finds great value in face-to-face interactions, which build stronger bonds and facilitate more profound discussions. Such gatherings energize the community and encourage optimism about the future of the industry.
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