Stablecoin 2.0: The Blueprint for Global Digital Economy - TOKEN2049 Singapore 2024

hello everyone I know this was a quite a busy event in a hope I can say something uh doesn't waste your time and make you feel Worth to stay here so I'm the founder CEO for WCN and we are a new startup FX on a uh step coin payment area but I'm not new in crypto so I did my first investment in crypto in 2013 and the parent company cth group focus on crypto area since 2016 we have United to more than 200 Port portfolio companies in crypto area but why we start to launch a new Step coin and why we want to focus on the new infra of State coin payment so the first thing I want to share with you is about the transition from E money to State point because a lot of people think we already have a PayPal we have Ali pay of V pay so the the job is finished right there's nothing to do with payment but I need to say the job is never never finished if we look at the current status about the globalization about the real world digital payment we know the friction is steer there is is steer there think about it we have 8 billion people in the world but how many people have the access of the fin Financial Service how many people have the access of the bank account the bank all the payment company what they doing now is not a real digital payment what they doing now is electronic payment what they are send you are sending basically you are sending in money and there are three you know pinpoints for the current e money the first thing I already mentioned it's about the inclusion how to include as most of people as we can from the world because people should be have the should be granted to the access because a lot of people they complain the globalization state but how can you expect it uh you know very prosperity uh economy but you don't have access to the payment structure so that's the first thing and the second thing the friction so when people Wow money especially they do crossw payment and the traditional company traditional broker they charge incredible crazy high commission right because we know in Singapore a lot of uh helpers in know maze they walk in Singapore they want to war money to their Hometown and the broker to charge 20% some sometimes they charge more than 20% for their payment it's not fair right and the third thing is uh over regulation I'm not talking about the regulation should not be there regulation should be in place but we never encourage the over regulation so that means if the government is not happy if any regulator is not happy they will freeze your account they reach the hand to your account and grab your money and that's not fair I have to say so that's why we need a step coin payment but then the next question is uh a lot of people say we already have u u DC and they have a 90% share combin and you know what else you want to do in the St coin area they s the step point is down but I want to repeat it's never be that easy step coin payment the job is not finished it's not finished yet if you look at the current state coin so do you think they really State coin from my personal understanding they're not real State coin they're just I call them company donor that's are several companies they print digital donor and then you have to trust the company you have you have to trust the management team trust their capability their integrity their honesty and to do with the how to manage the treasury right if they made mistakes the cost is on your side so basically we want to improve the current state coin we want to bring the state coin for now to State Point 2.0 what we do we're focus on the four aspect the first thing is that we want to focus on the you know of incentive so now UDT UDC all those step Co they don't give you any incentive they take all your interest and they don't give any incentive to the bank to the you know Distributors it's not fair right it's not fair I know they they have very good life but uh they take all the profit so what we do is uh you know we want to offer better incentive to the users to the Distributors to all the participants in the ecosystem and the second thing we want to do better is the governance CU now you may heard you know past year when the government the they break down they bring down the uh SUV right there's a background of the uh uh the you know um the cicon Wy bank and then the USC get deped and that happened again and again it happen a lot for UD as well get dep Okay the reason is that nobody knows where the money goes to so where the where the people make decision make right decision uh well they use the underline assets to invest in TS or even more higher risk assets you never know what do you need to do you just need to trust that people right and that's not the real step coin step coin should be the most important infra of web three but the current state Point product is is is the opposite is totally not web three it's a 100% centralized so what we want to do is we want to bring this community into the governance we want to let the people decide where we should put the money to we want to people know you know the real time of prefer Reserve because you cannot R A AER to write a testation report for you you know the PWC they wrote the uh aing report for aound and then it turns out to be a big hole right I'm not talking about any specific audience fir but just you cannot trust right so we want to do we want to do it in a web three way we want to bring the community back in the governance and the third thing we definitely want to do better is the accessibility if you ask your friends have you heard about the US UDC all the step coin they may heard about it but the next question is can they really can buy can they really need to get access of the state coin so the answer is no now the accessibility for State coins qu limited what we want to do is uh we want to bring the next 1 billion four billion users think about the traditional internet users there are 4 billion users but how many users in Step coin there only 100 million users or 200 million users less than 5% so how to bring in the other 95% users into step coin that's a serious question and we want to integrate with the current you know b2c platform alip we CH Tik Tok we want to make everyone accessible to the St coin and the last the last thing is uh you know the usability the usability so we want to maximize the usability why this the market cap in the past over the past 10 years the market cap of Step coin is only 170 billion is not a great success to me I think is too slow if you look at it current crossb payment it's 108 Tron right it's not B it's tring we are still two small the G still earning not finished yet U UDC they dominant when the market cap is 170 billion but how about let's say in the next 10 years what uh when the market cap reach to 10 trillion do you still believe they get 90% of the market share I don't believe I don't believe it so we want want to maximize the usability everybody can use State point for Asset Management to pay salary to pay their rent to buy daily stuff in a 71 convenience store that's our dream we want to bring the state Point into a real use case so that's the that's what we want to do and the last thing we want I want to share is uh to unlock what the possibilities for the digital future so let's just think about longer the next five years 10 years 20 years how will be the word look like right so what can State coin really do personally I I'm a strongly believer step coin can unlock the uh huge potential of asset management so in the future you can use step coin to do the OneStop Asset Management if you want to buy stock if you want to trade crypto you want to trade uh commodity all gold silver everything everything you want to buy you have a universal payment solution and that will be State coin you cannot find another uh State uh payment solution so that's for One Stop asset management and the second the second uh potential for State coins to be used in the AI era because in the AI era the use case will be there will be a machine need to be need to pay another machine $100 how can you know the machine do it will the machine machine write a check or they use the credit card no definitely not the only solution will be the smart contract will be the blockchain driven in know blockchain technology driven Automotive smart contract payment and that's St coin payment and the last thing is about how to make a customized payment say now you send your kids abroad your kids are in in your University you want to support you want to support him right but the real thing is you don't want to give him a big money uh at one time you may need the the wasting term you may need him to wasting term and sometimes you can put additional terms say if you get a triple A then you get the money if you don't reach to the Mone you don't get the money you have to earn your own money and that's how to make the payment purely 100% customized and what we can do is use the state coin so I talked to my partner uh John Patrick John was the legend in the payment industry he was the president for Visa Global and he L the IPO of Visa in 2008 I told I asked him where's your passion so what's what's the next job you want to do he said what I want to do is something bigger than visa and the step coin we truly believe step step coin is much bigger than Visa thank you thank you all