Former OKX CEO Jay Hao is stepping into a new role as COO of CIFDAQ. In his interview, he shared insights on the future of Web3, security in the crypto industry, and lessons from the recent WazirX hack.
Jay Hao's Appointment at CIFDAQ
Jay Hao has been appointed as the global COO of CIFDAQ, an AI-driven blockchain company. In his new role, Hao plans to focus on innovation and creating a robust ecosystem that includes blockchain technology and decentralized finance. The main goal is to offer users a platform addressing issues like security and scalability.
Importance of Security in Web3 and Crypto Industry
Hao emphasizes that security is crucial in the Web3 and crypto industries. The decentralized nature of these technologies shifts the responsibility for asset protection from institutions to individuals, necessitating robust security protocols to safeguard funds and data.
Lessons from the WazirX Hack and the Future of Crypto
The WazirX hack highlights the need for operational security. According to Hao, such incidents underline the importance of internal controls and threat detection systems. The future of crypto expects broader blockchain adoption across various sectors and clearer regulations.
Jay Hao envisions the future of the crypto industry involving widespread adoption of decentralized systems and deeper integration of Web3 technologies with traditional finance. Educating users about security should be a priority for the industry.