Crypto doesn’t need blockchain or tokens, says Tether’s CEO.

In the year By 2024, the crypto industry must provide users with “real-world use cases and applications” that aren't based on tokens or the blockchain, according to Tether CEO Paolo Arduino.

“Crypto doesn't need a blockchain, it doesn't need a token,” he told Cointelegraph in an exclusive interview.

Arduino argues that the next crypto-killer app should focus on the fundamental value provided by cryptography, which includes peer-to-peer transactions and privacy protections.

“It could be a booking system or an Uber competitor,” Arduino explains.

According to the CEO, introducing a token would create a centralized point of failure and increase the likelihood that the project would be considered a security risk by regulators.

“Many projects that issued tokens are now in the midst of the SEC,” Arduino said.

To be decentralized, this system does not require blockchain technology, which is “slow and requires a global commonwealth.”

“BitTorrent didn't have a blockchain and was decentralized,” he added.

To learn more about Arduino's crypto vision for 2024, watch the full interview on our YouTube channel and don't forget to subscribe!