Zilliqa: the latest news about the project and ZIL’s roommate
Fundstrat has recently published a comprehensive report on the Zilliqa (ZIL) project and its objective to capture the ASEAN market.
To deepen this research yesterday, December 10, a private event was held by Zilliqa together with Fundstrat, whose moderator was Tom Lee, managing partner and Bitcoin Circuit head of research of the investment company. During the event Tom Lee began by explaining the economic situation of this last period, between inflation and Covid-19.
The year 2020 is showing the problems of centralized governments and Bitcoin is the best asset to invest in according to Lee, also because it is the one with the best performance between 2019 and 2020.
The value of gold, Lee explains, hasn’t gone bad either, but to really protect yourself you need something decentralized like digital currencies.
Fundstrat, who has been writing and studying crypto since 2017 and boasts one of the largest research teams, has done a lot of research on crypto markets, which is why she has also focused on Zilliqa in her reports.
For those who don’t know it, Zilliqa is a blockchain as a service that also supports dApps and is currently expanding into the DeFi sector. In fact, one of Zilliqa’s goals is to monetize DLT technology by helping companies use it and create partnerships and strategies in order to have a growing number of dApps based on their blockchain.
After Lee’s speech, the Zilliqa team then took the floor, starting with co-founder Amrit Kumar who told about himself and how he entered the crypto world. Kumar explained that he had started studying Monero for his privacy when he approached the industry, but that Zilliqa was born mainly to solve the blockchain’s scalability.
Zilliqa, coin and news about DeFi projects
As we were saying, Zilliqa is now also working on DeFi, for example with the Zilswap project, a sort of decentralised exchange similar to Uniswap but for tokens based of course on the Zilliqa blockchain.
For the past few months Zilliqa has also had its own stablecoin, XSGD, which has been trading on the Singapore dollar. The reason for this choice lies in the fact that the team has set itself the South East Asian area (ASEAN) as its target, as the population grows by 1.1% every 5 years and the unbanked are at 50%.
This is precisely why Zilliqa has identified the ASEAN markets as a breeding ground for the adoption of crypto and Open Finance. Finally, Zilliqa offers fast transactions around 45-90 seconds and low fees, so it would be well suited to everyday use.