AllianceDAO founder Qiao Wang believes that it is not Bitcoin, Ethereum, or Solana, but TRON that truly provides banking services to the financially isolated masses. His views have sparked discussion on Twitter.
Qiao Wang stated in a tweet that he understood some things in 2023 that he found difficult to accept. He pointed out that neither Ethereum, Bitcoin, nor Solana truly provide banking services to the unbanked population. These public chains are either too unstable, too expensive, or too new.
It is TRON that provides banking services to people around the world without bank accounts. He mentioned that the majority of stablecoin activities in emerging economies are conducted through TRON’s USDT, which is supported by data on the chain and conversations with the people in these countries. TRON has benefited from its significant first-mover advantage as one of the earliest public chains to adopt low transaction fees and support USDT. It also benefited from Binance creating a huge sales channel for it when it was listed on exchanges.
In conclusion, Qiao Wang stated that TRON’s success in these countries is not a coincidence. It may be shocking, absurd, or disgusting, but he uses this example to constantly remind himself to maintain objective thinking and be adaptable.
TRON founder Justin Sun replied to Qiao Wang’s tweet, stating that everything is still in the early stage for TRON, and their vision is to serve the global population of 8 billion people. He expressed the need for more people to assist them in achieving this vision and stated that they are willing to do anything for it.
dForce founder Mindao Yang also retweeted Qiao Wang’s tweet and believes that TRON and USDT were adopted as a result of early competition between Binance, Huobi, and OKEx. At that time, these exchanges issued BUSD, HUSD, USDK, and other USD stablecoins but were unwilling to support each other’s public chains and stablecoins. TRON and USDT’s neutral characteristics, along with the support from major exchanges (listing, TRC network support, etc.), led to their massive adoption.
However, some community members pointed out that USDT is also a product owned by Bitfinex, a cryptocurrency exchange. Despite not having a close relationship with the United States, USDT has gained adoption in most non-Western markets.
Solana, USDT, Ethereum, Bitcoin, and TRON are mentioned in the article.
Related reading:
Blockchain detective ZachXBT announces temporary departure from Twitter, various public chains emerge ZachXBT meme coins.
Solana breaks $120, dog-themed meme coins BONK and WIF gain momentum.