TRON and BitTorrent CEO Justin Sun delivered his keynote speech for this year’s largest FinTech community gathering called the Singapore FinTech Festival 2021 and its an event organized by the Monetary Authority of Singapore that focuses on topics such as API, Big Data, Blockchain, Machine Learning, Regulatory Technology, and Tech Risk.

Asides from TRON being in attendance for this event, industry giants from different fields were also present such as Microsoft, PayPal, Tencent, Ant Group, and Mastercard just to name a few.

Justin Sun shared his thoughts about the advantages of Web 3.0 which is a decentralized infrastructure. He stated that TRON would be fully committed to the growth and development of Web 3.0.

Compared to the traditional SWIFT, TRON is permissionless and it provides instant transfers of USDC, USDT, TUSD, and other stablecoins to its users with minimal fees.

He also pointed out the most important feature for Web 3.0 is the smart contract which opens up opportunities and possibilities for all developers to build DApps on TRON blockchain covering nearly all industries including finance.

Justin Sun also mentioned that Web 3.0 is also applied to fields such as GameFi, which allows players from different countries to earn monetary returns while playing games.

Then its player data such as scores, ranking, and other game-related information would be kept on the blockchain while its players can reuse and verify on any other blockchains, hence safeguarding assets and data.

Lastly, since the SFF 2021’s topic was all about Web 3.0, Justin Sun told everyone that BitTorrent Chain is the perfect example for an infrastructure that is capable of bringing all parts together for 7 billion users worldwide.

What is Web 3.0?

Web 3.0 is known to be the reinvention of the World Wide Web and it is the third generation of internet services for websites and applications that focuses on using an only machine-based understanding of data to provide a data-driven and Semantic Web.

It is known to be developed using artificial intelligence technology and would be operating only through decentralized protocols which are the founding blocks of blockchain and cryptocurrency technology.

The perfect example for Web 3.0 application is Apple’s Siri which can provide a summary of large amounts of information into knowledge plus useful actions for everyone.

What is Singapore FinTech Festival?

Singapore FinTech Festival (SFF) is an annual event running for 6 years now and it is known to be the largest FinTech festival in the world and it is also a knowledge platform for the global FinTech community.

SFF is organized by the Monetary Authority of Singapore and aims to provide the latest information on the development of financial services, public policy, and technology.

Justin Sun’s presence in the Singapore FinTech Festival provides the industry giants and potential future partners all the information that they need to know on what TRON can bring to the table for Web 3.0 such as their solutions to provide a better and reliable digital finance industry.

For more news and updates, see Tron Spark.