You can also read this news on BH NEWS: Arthur Hayes Promotes Aptos for Finance Solutions
Arthur Hayes, the founder of BitMEX, advocates for the Aptos (APT) blockchain as a remedy for the inefficiencies plaguing traditional finance. Speaking at the Aptos Experience conference in Seoul, he shared insights from his time in conventional financial sectors, highlighting issues like transaction delays and settlement errors that stem from outdated systems.
Hayes pointed out that traditional financial institutions often suffer from slow transaction processes, where transfers can take one or two days to complete. He questioned the rationale behind such delays in an age where data transmission is instantaneous, suggesting that these inefficiencies are due to archaic practices that have not kept pace with technological advancements.
He asserts that decentralized exchanges (DEXs) built on the Aptos network can solve these problems by offering 24/7 trading and immediate settlement. By eliminating intermediaries like brokers and custodial services, transactions become faster and more efficient. Hayes believes that this shift would allow any individual with a digital wallet to participate directly in the market, reducing the reliance on traditional financial institutions.
At the time of his comments, Aptos (APT) was trading at $5.81, marking a 4.8% decrease over the previous 24 hours. Hayes’ advocacy underscores the potential for blockchain technologies like Aptos to significantly improve the efficiency of financial markets by streamlining operations and reducing dependency on longstanding intermediaries.
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