Huobi COO wants unified blockchain regulation

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Updated September 21, 2022 | Published August 5, 2020

2 mins read

According to Zhu, who spoke to Cointelegraph, blockchain needs defined regulation for mass adoption.

Zhu spoke about the intricacies of achieving both. There are too many regulations, services and management systems that are more or less conflicted. Furthermore, security is another priority for most companies and consumers.

He said that to have mass adoption, consumers would have to be prepared to entrust their crypto tokens with an institution and have no doubt about their safety. Discussing what tools could have been used, Zhu said that Huobi has a good standing in the industry and crypto exchanges do have an important part to play in the infrastructure that would presage the mass adoption of the blockchain.

According to him, educating and training specialists is equally important. “Huobi sees the rising opportunities in training talents, empowering real economy, project incubation and setting industry standards,” Zhu said, while referring to Huobi University.

He also reminded that places like Hong Kong, Japan, London, and Singapore have already kickstarted blockchain regulation, but what is needed is to create a unified infrastructure to bring everything together, Zhu believes. This will happen only if regulators and countries come together.

With blockchain gaming soaring with projects such as Bitcasino, mBit Casino and Cloudbet, there are plenty of examples how blockchain can serve as the basis of secure gaming. It's already happening, but unified legislation could help.

As CGN has already said once before, blockchain gaming deserves regulatory clarity.

Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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