Solana

Aptos

Arthur

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/arthur-hayes-advocates-for-aptos-as-a-solution-to-traditional-finance-issues/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Arthur Hayes Advocates for Aptos as a Solution to Traditional Finance Issues</a> 
Arthur Hayes, the founder of BitMEX, asserts that the Aptos (APT) network can address numerous challenges in the traditional finance (TradFi) sector. During his speech at the Aptos Experience conference held in Seoul, Hayes highlighted his experiences within the traditional finance sector, emphasizing its outdated and inefficient nature. He pointed out frequent issues such as delays in money transfers, settlement discrepancies, and stock deliveries.
<h2 id="challenges-in-traditional-finance">Challenges in Traditional Finance</h2>
Hayes explained that the inefficiencies he witnessed in traditional finance often stem from outdated practices. He noted the problematic nature of transactions that take one or two days for completion, questioning why in a world where data moves swiftly, financial transactions lag behind.
<blockquote>
 Arthur Hayes: “As an ETF issuer, you wouldn’t want to deal with all these issues, so you would move everything to an Aptos DEX. With a DEX, you get 24/7 trading and instant settlements.”
</blockquote>
He believes that decentralized exchanges (DEX) could revolutionize trading in traditional finance products, stating that the reluctance of exchanges to adapt stems from a fear of exposing their real value as intermediaries.
<h2 id="eliminating-intermediaries">Eliminating Intermediaries</h2>
Hayes argues that utilizing a DEX based on Aptos can eliminate unnecessary delays and intermediaries. This approach could resolve many issues for firms like BlackRock, according to him.
<blockquote>
 Arthur Hayes: “When you eliminate brokers, anyone with a wallet can be a broker. There’s no need for custodial services, as the chain itself provides storage or a user-friendly wallet.”
</blockquote>
He contends that traditional exchanges and brokers, which profit from payment flows, would become redundant.
Hayes predicts that Aptos could surpass Solana (<a href="https://en.coin-turk.com/solana-meme-coin-frenzy-gains-momentum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a>) in the current market cycle, potentially becoming the second-best Layer-1 <a href="https://en.coin-turk.com/omni-network-signs-600-million-ethereum-deal-with-ether-fi/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a> within one to three years.
<blockquote>
 Arthur Hayes: “I will state this on the platform, and share more information later: Aptos will surpass Solana in the Layer-1 game.”
</blockquote>
As of the writing, APT is valued at $5.81, reflecting a 4.8% decline in the last 24 hours. Hayes’ insights illustrate how blockchain technology may lead to significant changes in traditional finance, with platforms like Aptos poised to redefine the operational efficiency of financial markets by removing intermediaries.
The post <a href="https://en.coin-turk.com/arthur-hayes-advocates-for-aptos-as-a-solution-to-traditional-finance-issues/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Arthur Hayes Advocates for Aptos as a Solution to Traditional Finance Issues</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Arthur Hayes Advocates for Aptos as a Solution to Traditional Finance Issues

Table of Contents

COINTURK NEWS

Other articles published on Sep 16, 2024

North Carolina Blocks CBDCs with New Law

Crypto Trader Accumulates $990K Transacting Neiro Tokens

Dogefather Elon Musk Resurrects SNL Skit, Sends Dogecoin Price Flying

Memebet gives Dogecoin, Pepe utility through GambleFi

Is Toncoin Price Ready for a Major Uptrend? Key TON Levels to Watch

a16z Crypto Selects 21 Startups for Fall 2024 Accelerator Cohort

Join our free newsletter for daily crypto updates!