Kanav Kariya, president of Jump Crypto, spoke on Sunday about the need for a better trust layer in cryptocurrencies. The executive believes that with the collapse of centralized exchanges, there is now increasing collective pressure to build a stronger and faster trust layer.
Kanav Kariya added that FTX’s alleged fraud would have been considered fraud 100 years ago. It’s a cruel trick to surface in an industry premised on the abstraction of trust, and in an environment of declining social trust, cryptocurrencies and the abstraction of trust make more sense than ever The breakup has had a serious negative impact on our industry and, in my opinion, greatly outweighs the positive impact. Low trust dramatically slows innovation and progress.