Bybit CEO Ben Zhou’s Vision for Blockchain and Crypto Trends in 2024
DUBAI, United Arab Emirates
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January 05, 2024 05:00 AM Eastern Standard Time
Ben Zhou, co-founder and CEO of Bybit, the world’s third largest crypto exchange by volume, has laid out his target for crypto in 2024: to further transition Bybit towards decentralized technologies.
Decentralized Finance (DeFi) Growth
“DeFi represents a paradigm shift in financial services,” Zhou said. “Characterized by unprecedented decentralization, efficiency, and accessibility. Bybit is contributing to this movement by integrating multi-wallet features and acting as an easy portal to decentralized apps and services.”
Bybit’s focus on user-friendly DeFi access and a vibrant NFT ecosystem comes under the banner of “Bybit Web3,” which can be accessed from its award-winning platform. “The true value of crypto lies in decentralization,” Zhou said. “We are not interested in creating more walled gardens — we are committed to democratizing financial services. So if technological complexity is an issue for people, we want to make it simple, safe, and accessible.”
Central Bank Digital Currencies (CBDC): A New Asset Class?
Zhou is interested in the emergence of CBDCs on public blockchains, which will be a significant shift in the digital economy. “Bybit is exploring ways to integrate these digital currencies into our platform, and we hope to expose these CBDCs to a free and global market, which will lead to a new and interesting way of valuing and exchanging currencies.”
AI Trading Becomes the Norm
AI integration with blockchain technology is a rapidly evolving concept that Bybit is exploring. “The first step for us was integrating AI with our trading tools, and we now offer incredibly sophisticated trading bots to any of our users,” Zhou said. “The convergence of AI and blockchain promises to enhance the efficiency and adaptability of blockchain networks, providing new opportunities for business insights and decision-making.”
Bybit WIll Capitalize on Phenomenal Growth
“Finally, we need to foster a knowledgeable workforce capable of driving innovation in this sector,” Zhou said. “We have been growing our headcount globally and seeking the best team to support our transition to the next phase of crypto adoption.”
In 2023 Bybit grew its share of the spot crypto market eightfold and maintained a top three position in derivatives and global crypto trading volume.
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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