Wei Zhou, the CEO of Cash.ph argued that hyper-tokenization is a way more viable situation than hyper-Bitcoinization.
Chatting with Kitco Information, Zhou gave his tackle how mass adoption will occur, stating that Bitcoin’s volatility counts towards it as the first driver of cryptocurrency adoption on a worldwide scale.
Hyper-tokenization vs. hyper-Bitcoinization
Host David Lin described hyper-Bitcoinization because the second when Bitcoin turns into the default worth system. He requested Zhou how this situation would come to cross.
Zhou argued that transacting requires value stability, and a secure Bitcoin takes away the value appreciation side of investing in it within the first place.
To that finish, he most popular to name the tipping level described by Lin “hyper-tokenization,” in reference to tokens (apart from Bitcoin) that may fulfill transactability by way of value stability.
“After we’re signing a deal for $10, we have to know, even when it’s nominated in pesos or Sing {dollars} or Thai baht, regardless of the worth we signal alternate in, each side have to have an settlement that that is the worth of alternate.”
Stablecoin adoption will drive wider crypto adoption
Zhou mentioned the stablecoin market is a rising sector, as evidenced by the concerted push to rollout Central Financial institution Digital Currencies (CBDCs,) “that are basically stablecoins nominated in native currencies.”
“You’re going to see an increasing number of stablecoin-like tokens that agency up the worth of alternate in several international locations.”
Massive-scale tokenization will result in extra customers coming into the crypto ecosystem. Whereas he initially corrected Lin on the set off for mass adoption, the knock-on impact of extra stablecoin customers will catalyze the adoption of different tokens, together with Bitcoin, Zhou mentioned.
