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Sirgoo Lee, CEO of Dunamu, offered his vision for thoughts on blockchain technology and UDC 2021, a blockchain conference Dunamu hosted from Sept. 1 to 2.
"When blockchain goes beyond the technical conversation and starts being applied to our everyday lives, that's the moment of no return, when blockchain becomes permanently installed into the zeitgeist," Lee said on the second day.
Lee offered his thoughts on each of the conference's six categories: NFTs, smart contracts, DeFi, CBDCs, enterprise blockchains, and payments.
Regarding NFTs, Lee said he was honestly surprised at how much the ecosystem has grown.
"Even back in March and April, when we were getting ready for UDC 2021, we didn't think NFTs would have gotten to where they are now, just a few months later," he said.
"NFTs are a technology that can be applied in multiple industries, from art to games."
Lee predicted that one day we'll reach a point where people convert memorable moments in their lives into NFTs on a regular basis.
On smart contracts, Lee described them as the foundation of the blockchain ecosystem.
"Smart contracts are the technological element that have allowed blockchains to be applied to a variety of industries. They have expanded the spectrum in which blockchains can operate."
On the topic of DeFi, Lee remarked on how quickly the sphere was evolving.
"Compared to last year, the number of use cases for DeFi has clearly increased," he said.
He spotlighted Onther's DeFi projects, commenting that he was curious to see how or whether they'll apply it to their research for the Bank of Korea's CBDC.
Regarding CBDCs, Lee remarked that 86% of countries around the world have devoted research into CBDCs, and that 60% of countries have already started tests or trials.
"After three years, South Korea is in the testing phase, and I'm curious to see how CBDCs develop here."
Commenting on enterprise blockchains, Lee observed that "The reason why companies haven't adopted enterprise blockchains quickly is that they're still waiting for a suitable enterprise blockchain."
"But the more enterprise blockchains evolve, the more we'll start seeing firms adopt them," he added.
On the subject of payments, Lee pointed to Visa's trials of crypto payment services, calling it the moment blockchain enthusiasts have waited for.
"The blockchain community has waited a long time for crypto assets to be used in payments," he said. "And Visa has ended this wait by joining the market."
Adding his closing comments, Lee stressed that "it's important to offer blockchain services that are convenient and easy to use in our everyday lives."
Radiating positive vibes, Lee said, "I truly feel that the future of blockchain is bright."
UDC 2021 articles are sponsored by Upbit.