OKX Star: The next era will be characterized by users holding funds on-chain themselves, rather than through institutional custody

The founder and CEO of OKX, Star, shared a keynote speech titled "Everything on Chain, Self-Custody is the Future" at this year's Token 2049 conference in Singapore. Star pointed out that the next era of finance will see users holding their funds on-chain themselves, rather than through institutional custody. He used the mobile phone industry as an example, stating that traditional finance, like Nokia's closed system, will eventually be replaced by open systems like DeFi. Star emphasized four key characteristics of on-chain systems: transparency, openness, portability, and globalization.

The infrastructure is ready, with Layer 2 capable of processing over 10,000 transactions per second, the market capitalization of Bitcoin ETFs surpassing that of gold ETFs, and a gradually improving global regulatory framework. Self-custody adopts a "verify first, trust later" model, allowing users to instantly view reserve and transaction data. Combined with technologies like multi-signature and abstract accounts, the security is on par with banks. Crypto companies can also leverage big data and AI for comprehensive on-chain anti-money laundering monitoring.

OKX has obtained licenses in the United States, the European Union, Singapore, and other regions, launched the self-custody wallet OKX Pay and the Layer 2 solution X Layer, and collaborated with institutions like Mastercard and Tether to build an ecosystem. Star concluded, "The future of finance is not in vaults, but in your wallet."