Sun Yuchen attended the Hong Kong Crypto Finance Forum, sharing industry insights and development suggestions

Author: ChainCatcher

On April 8, the Hong Kong Crypto Finance Forum was grandly held at the Hong Kong Convention and Exhibition Centre. Sun Yuchen, the founder of TRON, was invited as an important guest to attend, participating in a wonderful roundtable discussion on “Essential Infrastructure – Building the Future Blueprint of the Crypto Finance World” alongside Google Cloud Strategic Advisor Michael Yung, StakeStone Chief Strategy Officer Rose Li, PoPP Co-founder Andrew Sato, and Humanity Protocol Founder Terence Kwok. They shared TRON’s latest business achievements, emerging business models, and profound insights into industry development.

TRON’s Business Achievements and Emerging Models

In his speech, Sun Yuchen first introduced the significant achievements TRON has made in its business. He emphasized that TRON is committed to building a centralized cryptocurrency infrastructure, providing everyone with a platform for decentralized asset issuance, trading, and the use of various stablecoins and applications. Currently, TRON has developed into a global payment clearing network, connecting with all cryptocurrency networks worldwide, with user numbers approaching 300 million.

In terms of on-chain business data, the total issuance of stablecoins on TRON has exceeded $66.7 billion, with daily settlement amounts reaching over $30 billion. Furthermore, TRON maintains close contact with major exchanges, wallet providers, and various developers in the industry to jointly promote the development of the crypto finance ecosystem.

It is worth mentioning that Sun Yuchen is the largest shareholder and investor in the Trump family project cryptocurrency initiative, World Liberty Financial. This project is in the process of globalization and will undergo significant development work on TRON. Sun Yuchen stated that the project team is strong and will launch many meaningful applications, with TRON continuing to provide support and follow up on project progress to maintain a leading position in the infrastructure field.

Compliance is an important topic in the cryptocurrency industry, and Sun Yuchen elaborated on this. He pointed out that since Trump’s election, the compliance process for the entire industry has made significant progress.

Sun Yuchen believes that in the future, U.S. regulatory agencies are expected to approve more compliant financial products, such as ETFs, beyond Bitcoin and Ethereum, creating an overall environment that encourages the development of cryptocurrencies.

In terms of combating crime, TRON, in collaboration with Tether and blockchain intelligence company TRM Labs, has established the T3 Financial Crime Unit (T3 FCU) to combat financial crime. Since its establishment, the unit has frozen a total of $130 million in criminal funds related to cryptocurrencies. Additionally, TRON has cooperated with law enforcement agencies in Hong Kong, the U.S. Department of Justice, and Spanish law enforcement to jointly combat criminals in the cryptocurrency field, reflecting TRON’s proactivity and sense of responsibility in maintaining industry safety.

Cross-Chain Challenges and Security

Regarding the cross-chain field, Sun Yuchen believes that the biggest challenge lies in security. In recent years, incidents of cross-chain bridge theft have been frequent, with cross-chain bridges and exchanges accounting for over 95% of cryptocurrency theft cases, and the proportion of cross-chain bridge thefts even exceeding that of exchanges. The reason is that cross-chain and cross-chain infrastructure are usually web3 projects, which have relatively less investment in resources and security compared to exchanges. Some cross-chain bridge project teams consist of only about thirty people, with very few focusing on security, while the number of teams engaged in hacking and penetration far exceeds those related to cross-chain projects.

As technology develops, the means of network attacks are becoming increasingly diverse, with security risks not only from mnemonic phrase and private key leaks but also from front-end and multi-signature setups that are not absolutely secure. Sun Yuchen emphasized that cross-chain development must be promoted only under the premise of ensuring security to make blockchain usage more convenient and simple.

The Combination of AI and Blockchain and Future Imagination

In terms of the combination of AI and blockchain, Sun Yuchen shared TRON’s plans and vision. He stated that the company has been dedicated to developing a payment AI Agent product related to cryptocurrency. Sun Yuchen believes that current regulations on AI are too strict and that AI should be managed as a person, granting it human rights rather than merely viewing it as a tool.

He proposed an important direction for the combination of AI and blockchain is to achieve the humanization of AI rights. Specifically, the plan is to issue ID cards for AI, allowing them to have TRON addresses and cryptocurrency addresses, enabling them to open accounts, make payments, and collaborate with other AIs or humans, with the option to choose between paid or free services. In this way, AI is endowed with payment channels and human rights, and subsequently, payment channels like Ethereum will also be integrated.

At the end of the roundtable discussion, Sun Yuchen offered suggestions for the development of the cryptocurrency industry. He emphasized the importance of continuous communication with regulatory and law enforcement agencies to combat crimes related to Web3 and cryptocurrencies. TRON hopes to convey a message to the entire industry and society that cryptocurrencies do not welcome criminals, and those who use cryptocurrencies or related tools for criminal activities will be dealt with.

Sun Yuchen also actively defended the reputation of the cryptocurrency industry, pointing out that the proportion of crime associated with traditional banks and cash is far higher than that of cryptocurrencies. Coupled with TRON’s efforts in establishing the T3 FCU to combat cryptocurrency crime, he is confident about the future development of the cryptocurrency industry.

Sun Yuchen’s speech at the Hong Kong Crypto Finance Forum comprehensively showcased TRON’s achievements and plans in business development, compliance construction, and technological innovation, providing valuable ideas and suggestions for the future development of the cryptocurrency industry, attracting widespread attention both within and outside the industry.

It is reported that the “Hong Kong Crypto Finance Forum” (CryptoFi Forum Hong Kong, CFF) aims to build a dialogue and cooperation platform to promote the development of the global crypto finance industry, inviting representatives from government and regulatory agencies, universities, academic research and consulting institutions, mainstream financial institutions, and asset management platforms, as well as analysts, influential figures, and business leaders active in related fields, to gather and discuss the cutting-edge directions and compliance applications of crypto finance and Web 3.0 technology, promoting the compliance and scaling development of the entire industry.