BlockBeats News, September 14th - BlockBeats reporter reported on the front line of Token2049 that Giovanni Vicioso, global head of CME Group's cryptocurrency products, stated at the "Institutionalization of Digital Assets" roundtable in Singapore: "I believe that DeFi will replace traditional finance, but they should coexist. Some institutions have truly adapted to DeFi, but I think more work needs to be done, especially in regulatory agencies. There needs to be relevant regulations and clear definitions of how these developers design these protocols to ensure that they can operate smoothly and attract institutional participation."

BlockBeats reported on September 14th that Pradyumna Agrawal, Managing Director of Temasek, spoke at the "Institutionalization of Digital Assets" panel at Token2049 in Singapore and stated: "Starting next quarter, Singapore will be able to conduct global fund flows in real-time in US dollars. This is not tokenizing funds, but creating new digital payment infrastructure that enables real-time, 24/7 fund flows. It also allows funds to become programmable. For example, you have a group of programmers, you can do quality checks, code can be released. Why can't you write some code to enable funds to be automatically transferred to these programmers? So, if you think about broad-based micro-payments, these are huge applications that are not possible in today's payment infrastructure. So, I think that's a concrete example. It's very different from the crypto infrastructure, but it can interoperate with the crypto infrastructure. This is already happening, and many companies, including those we support, are doing this. The more challenging part is the capital market because it involves the entire value chain from issuer to custodian to distributor. You really need to work closely with this value chain to find potential opportunities. Then, how do you truly digitize some of the contents and be able to redeem all of it? At least for me, it is unclear whether the benefits of tokenization have been proven. Does tokenization really enhance the game? Equity is an obvious example. It doesn't solve the problem and there have been many failed cases in this context."

BlockBeats reported on September 14th that during the Token2049 conference, Binance founder CZ spoke at the "Virtual Fireside Chat: CZ" event in Singapore. He stated, "In my opinion, the key is the OTC channel for fiat-to-crypto exchange, as everyone's focus is different, and that's the key to how we see the problem. Earlier this year, due to the strengthening of regulatory policies, we saw many traditional institutions exit the OTC market. But at the same time, we also saw new institutions enter the market. This industry already has tens of millions of users. I think doubling the number of users could bring the entire industry to a billion users. For most banks, if they only provide services for one country, they will have very few users. If they can get 1 billion users, that would be huge for a bank. We can bring tens of millions, or even hundreds of millions, of users to these traditional financial institutions and benefit greatly from it. Therefore, we see many traditional financial institutions hoping to seize this opportunity. So, although it is important to focus on the higher-level use cases of cryptocurrencies, in order to attract more people to join the cryptocurrency world, we must convert fiat currency to cryptocurrency and vice versa."

BlockBeats reported on September 14th that CZ, the founder of Binance, spoke at the "Virtual Fireside Chat: CZ" session at Token2049 in Singapore, saying, "I hope to see a blockchain-based social media platform, because today we are all heavy Twitter users. So this application can be developed based on blockchain, and we can deal with various problems such as spam, fraud, and identity verification. However, most blockchains may not be able to handle the large amount of data generated by Twitter interactions and events. But now with Layer 2 and other technologies, I believe we are only one step away from achieving this goal."

BlockBeats reported on September 13th that Nansen CEO Alex Svanevik spoke at the Token2049 "Navigating Blockchain and Web3 Data" panel in Singapore, stating that: "We have an excellent internal research and analytics team that is very good at understanding the information you find online. For example, for a fundraising round, we try to see how we can see these signs on the chain and then update our database. Currently, most of what we do is based on heuristics and algorithms, which means we don't use too much artificial intelligence, but we've been exploring some things, like trying to predict whether a wallet belongs to an exchange based on its transaction patterns. I think we have a lot of potential to do more work in this area. I think in some ways, artificial intelligence may take on some of the work that crowdsourcing does, where AI becomes almost a way of using collective intelligence on the internet. Therefore, if you can ask the right questions and the machine has context, like wallets on GitHub, sometimes on Twitter, there's a lot of information on different DAO forums, if you can train your AI and extract that context from the web, it will help with your tagging. But I don't think it will completely eliminate people, it's a joint effort between man and machine."

BlockBeats reported on September 13th that Michael Gronager, co-founder and CEO of Chainalysis, spoke at the "Navigating Blockchain and Web3 Data" roundtable discussion at Token2049 in Singapore. He stated, "The FTX incident caused a lot of damage. No one in the cryptocurrency field can cry because people elsewhere in the world are much more difficult. So I think this is a very important lesson. But many institutional participants feel fearful and embarrassed because of their interaction with FTX." He further emphasized that cryptocurrency is no longer just about cryptocurrencies themselves, but has transformed into infrastructure that enhances other financial sectors to obtain better interest rates. He stated that 75% of banking transactions are conducted through blockchain in the form of stablecoins for national currency exchange.

BlockBeats reported on September 13th that Etherscan CEO Matthew Tan stated during a roundtable discussion at Token2049 in Singapore, titled "Navigating Blockchain and Web3 Data", that there are two major pain points when it comes to combining blockchain and Web3 data with AI. Firstly, many people require a better understanding of smart contracts. As a result, we have developed the Code Reader tool, which allows users to access verified smart contract source code and ask basic questions to help them understand the functionality and core features of smart contracts. This is particularly useful for beginners who are asking very basic questions, such as what a smart contract does. The second pain point involves prompting engineering, or how to ask the right questions. This is similar to the development of search engines in the past, which became increasingly intelligent and able to guess the user's intent based on their input and provide relevant results. Now, we also need appropriate prompting engineering to help users ask the right questions to obtain accurate answers. This is an important direction for development that can improve the usability and user experience of blockchain and smart contracts.

BlockBeats reported on September 13th that during the Token2049 conference in Singapore, Nic Carter, the founder of smart contracts, spoke about stablecoins appearing on Bitcoin. Tether was originally issued on the Omni blockchain, but over time, its usage on Bitcoin has decreased while other blockchains, such as Ethereum, have adopted stablecoins more. One way to increase the value payload of each byte on the Bitcoin blockchain is by incorporating stablecoins. This can increase the economic density of Bitcoin to meet various needs, including as a monetary tool. In short, developing stablecoins on Bitcoin has enormous potential, whether through settlement on the Lightning Network or creating synthetic stablecoins based on Bitcoin. This will help meet the needs of different users, thereby increasing the practicality and attractiveness of Bitcoin.