Jay Hao, the CEO of the digital asset exchange OKEx, took part in Cointelegraph China HUB, an online interview column started by Cointelegraph China. In the past, Hao has stated that blockchain will eliminate transaction barriers, improve efficiency and ultimately impact the development of the global economy. But what does he think about the world of blockchain now?
Cointelegraph: Is cryptocurrency a niche industry developing with uncertainty and volatility? And how did OKEx overcome the volatility of the industry to become one of the top exchanges?
Jay Hao: As you said, the cryptocurrency industry itself brims with uncertainties, and it is OKEx’s innate mission to be prepared to meet new challenges on all occasions. In the past year, the lowest price of Bitcoin reached about $3,300 and the highest exceeded $13,000. Especially in the past three months, the global financial industry has encountered massive fluctuations under the influence of COVID-19. 24/7 free-to-trade cryptocurrency has reacted even more in this plunge.
“For exchanges, the biggest challenge brought by such huge fluctuations is the stability of the trading system and risk control under such extreme market behavior.”
So, my team and I have consistently held a consensus: in the world of cryptocurrency, technology strength must be the key to building any crypto ecosystem. In the past year, we have polished the construction of the system without stopping, and we have carried out hundreds of significant upgrades. Our unique super matching engine and Lightning 2.0 system ensure that the platform can run stable even under extreme market conditions, and also the order processing speed has ranked high on the world’s top options exchanges lists. This is indeed a matter of pride.
CT: Can you give some details about OKEx’s expansion plan or overall strategy?
JH: From my point of view, reputation is the foundation of an enterprise, especially in the crypto world. In addition to the well-known reasons why…