Topp is interviewed by Mavericks host Joey Garcia, a globally recognised expert across the DLT and blockchain space, a Director of Xapo and Head of Policy and Regulatory affairs. During the interview/ Joey and Topp discuss the future of blockchain technology and different perspectives that enable those defined as mavericks to see the world differently and motivate them to push for change.

Topp also shared his views on the future of stablecoins, value exchange in Web 3.0, closed and open financial systems, and the fundamental integration of traditional fiat currency banking with blockchain technology, one of Xapo Bank’s primary value propositions.

Speaking on the future of decentralised finance (DeFi), Topp said: “If you talk short term, my grandmother or my grandfather will not be able to use decentralised finance; we need to humanise this technology. People know how to use Skype or Zoom, but nobody knows what TCP/IP protocol is; people know how to use Gmail or Hotmail, but nobody knows what SMTP protocol is.

“We need to humanise DeFi first. Then, when money is no longer paper-based, and everyone is embedded in Web 3.0 and can log in to their web wallets like they log in to their emails now, DeFi will take off. However, because DeFi only allows you to convert value from digital to digital, not physical to digital, you will still need an exchange platform as a transition, or a bridge, from the old world to the new. Otherwise, how will you be able to convert fiat to crypto?”

On how the move towards digital will further transform lifestyles in Southeast Asia, Topp said: “Blockchain is going to democratise value sharing in the same way the internet democratised information sharing. People will be free to choose which platform they want to exchange value.

We need more education, but restricting or banning the technology doesn’t work. Retail investors drove previous waves of Bitcoin growth, and we’re still seeing more and more retail customers onboard blockchain technology. I believe that the next wave of growth will be driven by institutional investors, even to the extent that some counties’ central banks will be in Bitcoin.

Speaking of the future of global economic growth over the next five years, Topp concluded: “I see the biggest focus development in Asia, the Southeast region in particular.

Right now, we live in a fragmented world - there is a decoupling between China and the US, and there’s an East and West divide and a global North and South inequality. Supply chains have been disrupted after Covid... it is clear that we are moving towards de-globalisation and a more fragmented world.

In ASEAN, we are the ones who swing the vote; we do not pick sides, we do not have the ageing population issues, and we are rich in natural resources. I believe the investors will need stability in this new fragmented world, and they will see the Southeast Asian region as the new S-curve. After 2024 we will see unprecedented growth in investment going into South-East Asia because of these various factors”.

To watch the whole podcast episode, visit https://www.xapobank.com/podcast^[3]

To explore the range of accessible and safe private banking benefits that Xapo Bank offers and to apply for membership, visit: https://www.xapo.com/membership^[4]

Hashtag: #XapoBank

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} Xapo Bank’s website. (www.xapobank.com)
3. ^{^} https://www.xapobank.com/podcast (www.xapobank.com)
4. ^{^} https://www.xapo.com/membership (www.xapo.com)