TechFlow news on November 27 — Sisi, Binance's new media marketing manager, held a live conversation with Sky Guo, founder and CEO of Cypherium. During the livestream, Sky Guo discussed the segmentation within the public blockchain space and explored future practical applications of blockchain technology.
Sky Guo believes both public and private blockchains can be used for CBDCs, but compared to private blockchains, public blockchains offer better usability and robustness. Public blockchains are simple to operate, low-cost, and accessible without membership fees. The high transparency and trustworthiness of public blockchains are crucial for any international business.
Regarding the unique characteristics of blockchain technology, Sky Guo highlighted several points: first, blockchain does not rely on banks; second, it reduces the risk of single points of failure, making CBDC systems resilient against system collapses, hacking, physical damage, and natural disasters. Additionally, blockchain enables a distributed decision-making and consensus mechanism, facilitating multi-party governance, and it can also assist in combating financial crimes.
