TechFlow News — On August 23, Cobo was invited to attend the 2022 Singapore Digital Economy Forum. During the event, Dr. Changhao Jiang, Co-founder and CTO of Cobo, stated that the most significant trend the industry needs to watch is the evolution of the blockchain world into a multi-chain, multi-layered network. Multiple public blockchains, as well as application-specific blockchains, will thrive and coexist. Meanwhile, as more blockchains adopt modular blockchain architectures—breaking down chains into multiple layers—many blockchain applications will be built across these different layers. All these developments will lead to a more fragmented ecosystem in terms of users, applications, and asset distribution.
This fragmented ecosystem presents new challenges for custodians and dApp developers. Since most users expect a unified interface and integrated products to interact with this fragmented landscape, it is crucial for digital asset custodians and technology providers to keep pace with these challenges.
To address these challenges, Cobo has established a three-generation roadmap in technology and product development. The first generation is centralized custody solutions, where customer keys are managed by the platform. This caters to clients from the traditional world who require a Web2-like user experience. The second generation is smart contract-based custody—Cobo Argus. It is essentially a set of smart contracts enabling institutions to seamlessly interact and collaborate with various dApps (such as DeFi, NFTs, GameFi, etc.). The third generation is a dedicated custody blockchain, Cobo Chain, providing a universal solution for accessing cryptocurrency applications and managing assets in a multi-chain, multi-layered blockchain environment.
