Justin Sun, the CEO and Tron founder, is willing to prove crypto is not a scam, by hiring the SEC former official to be the first compliance director. Sun is out to show that cryptocurrency is not a scam – despite hyperbolic emotional protestations by antagonists who say that it is.
He believes that tailored regulation is going to promote the mainstream adoption of cryptos by stamping out con artists.
Justin Sun fully embraces regulation
The CEO of Tron said that they are prepared to embrace regulation there fully. They have hired their first head of compliance that previously worked for the SEC for almost eight years.
Justin Sun stated that they want to ensure they are fully regulated in not just the United States but also in Korea, Japan, and China in the future.
The blockchain merely is like a new operating system. It is believed that the world is going to need to embrace the blockchain. And, there is also a lot of optimism about how it is going to be regulated.
According to Justin Sun, the SEC also sees the blockchain as a good chance for innovation in the United States. He hopes that during 2019, the SEC is going to license and regulate coin-based exchanges. This year is going to be the year of full regulation.
He made the remarks at the NiTron Summit in San Francisco on the 18th of January. During the conference, he shared the stage with NBA Hall of Famer Kobe Bryant, where both of them discussed the challenges of entrepreneurship.
Sun also posted an amusing photo of himself on Twitter with the retired NBA superstar holding a Tron mascot which was wearing a Los Angeles Lakers jersey.
The enormous ambitions of the young founder Justin Sun
Justin Sun has just 28 years, but he has vast ambitions. He really desires blockchain and crypto to be widespread and regularly used. One of the ways he actually hopes to do that is to launch the BTT or BitTorrent Token on the Binance Launchpad. BitTorrent is a peer-to-peer file which shares protocol that boasts 100 million users in 138 countries. Justin Sun acquired BitTorrent for $126 million in July last year. The BTT is crypto linked to the BitTorrent file-sharing platform.
BitTorrent has been rocked by unflattering allegations in recent times from a former Tron executive who has trashed the project.
Two weeks ago, the former chief strategy officer Simon Morris said that there is no way the Tron blockchain may handle the high rate of transactions of BitTorent. Morris has been dismissed as a disgruntled, as well as incompetent former employee on Reddit.
However, this is not the biggest scandal which Tron suffered. In June last year, it was reported that Tron plagiarized code from Ethereum, as well as some other projects and also, changed the file names to make it even harder to identify the source of the system. Sun called this scandal with plagiarism a misunderstanding.
In the meantime, Sun also brushed off these setbacks and charges ahead as he believes this year is going to be a watershed year for cryptocurrency industry. More importantly, Sun thinks that video games are going to help bring blockchain into the mainstream and also decentralize the Internet.
According to him, the first application of the blockchain is for games. A lot of people do not know this fact. Some of them even say that blockchain does not have any use for games. However, looking at the Tron blockchain, you will see that games are tremendous there.
Games on Tron give rights back to the players
Tron has three to five application uploads into the Tron network on a daily basis. That is why Sun talked about 2,000 apps this year in his speech. They see massive adoption.
According to Sun, most of the blockchain games present on the Tron network are democratized as they give rights back to the players. He said that people will have the ability to own their own custom characters, and can also sell those custom characters to some other players, or also trade with one another. In the meantime, developers will feel inspired as they are able to control their own games.
Opposite of this, Sun also says that if you publish your video game on Android or iOS, it is controlled by Google or Apple.
He noted that Google and Apple will take their cut, controlling your publishing. They can also delete the game if they want to. However, on Tron people are able to build their traffic volumes and they don’t have to pay a middleman to distribute their game.