BitMEX founder Arthur Hayes stated that the Aptos (APT) network could solve many problems in the traditional finance (TradFi) world.
Disruptions to Traditional Finance
Speaking at the Aptos Experience conference in Seoul, Hayes said his experiences in traditional finance had shown him how old-fashioned and inefficient the sector was, with disputes over money transfers, clearing delays and stock deliveries common.
Arthur Hayes: “As an ETF issuer, you don’t want to deal with all that hassle, so you move everything to an Aptos DEX. With a DEX, you get 24/7 trading and instant settlement. In a world where data just moves, it’s hard to understand why it takes a day or two to trade stocks, bonds or securities.”
Hayes said decentralized exchanges (DEXs) could revolutionize the trading of traditional financial products. He added that the reason exchanges are resistant to changing their policies is because they fear their true value as intermediaries will be revealed.
Elimination of Middlemen
Hayes argues that an Aptos-based DEX could eliminate unnecessary time losses and intermediaries, and that many problems for firms like BlackRock could be solved this way.
Arthur Hayes: “When you eliminate the middlemen, there is no need for brokers anymore. Anyone with a wallet can be a broker. There is no need for asset custody services because the chain itself provides the custody or an easy-to-use wallet. Traditional exchanges and brokerages, firms that make a profit on the flow of payments, become redundant.”
Predictions About the Future of Aptos
Recently, Hayes predicted that Aptos could overtake Solana (SOL) this market cycle, stating that Aptos could become the second-best Layer-1 blockchain in the next one to three years.
Arthur Hayes: “I will say this on this platform and share more information later in the summer. Aptos will pass Solana in the Layer-1 game. I won’t say more than that. I think Aptos could be the second Layer-1 behind Solana in this cycle.”
At the time of writing, APT is valued at $5.81, down 4.8% in the last 24 hours.
Hayes’ views show how blockchain technology could fundamentally change the world of traditional finance. Platforms like Aptos have the potential to redefine how financial markets operate by improving transaction efficiency and eliminating intermediaries.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
