Michael Casey speaks during the Upbit D Conference held at the Shilla Hotel in Seoul on Nov. 14, 2024. AJP Han Jun-guAt the Upbit D Conference (UDC) 2024 held at a hotel in Seoul, Casey emphasized that a core issue in past financial crises was the breakdown of trust in institutions. He proposed that reducing reliance on centralized entities, including crypto exchanges, could enable individuals and communities to establish mutual trust through shared data ownership, supported by AI-blockchain integration.
Formerly a chief columnist for The Wall Street Journal, Casey is known as the first mainstream journalist to report regularly on Bitcoin. The blockchain expert previously served as chairman of Consensus at CoinDesk, the world's largest blockchain media outlet.
While working as a bureau chief for The Wall Street Journal, Casey recalled witnessing Argentina's severe financial crisis, highlighting a significant breakdown in trust toward both the government and the currency.
Casey also referenced the 2014 bankruptcy of the major cryptocurrency exchange Mt. Gox, which lost 850,000 bitcoins to hacking, as another instance where trust was compromised. He emphasized developing ways to ensure trust in digital assets, advocating for well-structured government regulation and new systems merging AI with blockchain.
The Upbit Developer Conference (UDC) is South Korea's leading blockchain conference, organized by Dunamu since 2018 to promote the development, ecosystem growth, and popularization of the blockchain industry.
This year's event is themed "Blockchain: The Power to Change Reality." The conference delves into the expansion of blockchain technology across various industries and its transformative impact on reality, exploring its influence from the perspectives of trends, finance, policy, technology, and culture.
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Kim Joo-heon & Han Jun-gu
jhkim123@ajunews.com
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