Tom Yang is the Chief Marketing Officer (CMO) of Gate.io. We caught up with him to talk about his move from traditional technology to crypto, web3, bear markets, and other topics related to crypto and blockchain technology.
Daniel Jiménez (DJ): You have recently joined Gate.io after spending many years working for traditional tech giants, what made you decide to join the crypto sector?
Tom Yang (TY): That’s right, I’ve spent most of the last two decades working at leading tech companies and in recent years it has become clear that blockchain technology is fast becoming the future of finance and technology. As soon as the opportunity to join the crypto industry presented itself, I took it with open arms and joined gate.io like CMO.
With the rise of web3 and the metaverse, and countries like El Salvador adopting crypto as legal tender, it is undeniable that blockchain technology has a bright future ahead of it. I feel that it is still early days and that cryptocurrencies are in a unique position to reshape the world.
DJ: Speaking of Web3, what potential do you see in Web3 and what effect will it have on the average consumer?
TY: Considering that Web3 is envisioned as the next iteration of the internet, built primarily on blockchain technology, making it decentralized and giving users control over how their data is used, I see a lot of potential for Web3 in our future.
Blockchain technology is highly secureso it already gives the average user a sense of comfort, knowing that everything they do online is safer than before and gives them better control over their data and how it’s being used by the platforms.
That’s not to mention the potential in NFTs, DAOs, fan tokens, and beyond their current uses.. gate.io, For example, it is heavily involved in the future of web3, we are actively investing in projects in the space through our investment vehicles, Gate Labs and Gate Ventures.
DJ: You mentioned the adoption of Bitcoin as legal tender in El Salvador before, do you think the current bear market will negatively affect the possible plans of other countries to adopt cryptocurrencies?
TY: El Salvador has definitely been a pioneer in terms of cryptocurrency adoption for countries And I don’t think the current bear market will necessarily negatively affect other countries’ plans. In fact, I think it can speed it up.
The global economy is facing an uphill battle, so many different sectors are affected by this and many emerging markets are seeing their currencies rapidly devalue as economic uncertainty continues. It is quite possible that we will see more developing countries look towards Bitcoin or other cryptocurrencies to fight inflation and invest for the long term.
DJ: Speaking of the current bear market, how has Gate.io responded to the market downturn in recent months?
TY: Bear markets are for building. In gate.io we are currently working on our global expansion plan. We recently established dedicated operations in key markets around the world, including Turkey, Vietnam, Brazil, India and more while also shifting focus to offering our users a more personal and localized trading experience. We have obtained a number of regulatory licences, including a VFA Class 4 license in Malta, a DMCC license in Dubai, a license in Lithuania and our subsidiary Hipo Finance has obtained a custody license in Hong Kong.
So we are really focusing on building strong foundations in these markets and others around the world so that when the market finally changes, we are ready for it. We have also just announced zero fee trading on most of our spot and futures trading pairs, as a way to provide some relief to our users during these tough economic times.
DJ: What role will LATAM play in the future of Gate.io?
TY: Okay, Latin America is definitely an area that we are focusing on. In addition to establishing localized operations, we have recently launched an ambassador program called “Student Ambassador” which aims to recruit students from around the world to act as Gate.io ambassadors at their local colleges and university campuses.
This project started in Latin America and we are giving priority to countries in this region to test and launch this project. We have been working on community engagement and education projects by organizing meetups at the local level throughout the Latin American market where newcomers and experienced investors come together to discuss all things cryptocurrency in a safe and comfortable environment.
DJ: Speaking of educational initiatives, do you think the big players in the industry are doing enough to ensure that crypto investors understand the market and the risks involved in investing in crypto?
TY: I think, as with most things, there is room for improvement. Nobody has ever said “there are too many resources available on this topic“. The world changes every day and cryptocurrencies are paced much faster than many other industries, so leaders need to take a proactive approach to ensure they offer the most educational and informative content on all things cryptocurrency. , especially in different languages. Crypto is global, so it makes sense for content to be presented in a simple and understandable format in native languages.
We recently launched the Learn initiative. We regularly produce educational content in written and video formats. We have developed crypto-related courses and workshops, so we are definitely pushing educational initiatives. Many leaders in the space are doing the same and I appreciate it, education drives investors to make more informed decisions and leads to wider adoption, but time will tell if that is enough or if more can be done to drive education in the crypto world.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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