Tech Talks Daily
00:16:32 · Neil C. Hughes, Harvey Liu
[00:16:32] S0: Yeah. [00:16:33] S1: And we do... When when there's strong local authority or strong local regulations, we actually... We just act proactively, like, forbid those... Forbid access to all those those areas. For example, US, UK, Singapore, Mainland, China, which just blocked access. So we we are bringing a a global brand. But if locals are already, like, the strong authority will oppose to us and tell us that maybe certain things that we don't need to do, we we always happy to to cooperate. At at the same time, we we also looking at to get the proper license for the bigger market. For example, Europe. In Europe, we can... We're trying to get MiCA. In in the Gulf regions, we're trying to get VARA from UAE, and that's also in the progress. I think in the future, we will be... We will also looking at maybe just going to the local... Localized market when those proper licenses is in place. Yeah. [00:17:28] S0: And for any founder listening, especially in this space, behind the technology, when people are trusting a platform with their money, what responsibility should founders accept when engineering or risk decision could have on maybe direct financial consequences for their users? Any advice here? This must be... Is... I would imagine it's one of those things that might keep you up at at night, but anything you could share around that under the heavy burden of responsibility there too.
00:17:56 · Harvey Liu
[00:17:56] S1: Yeah. I think there's lots of things you need to consider. For example, I think, especially in the crypto world, for securities is most important. So recently, there's exchanges being being exposed to hackers, so they lose money. I think eventually, this this type of thing as a founder and CEO, you you you have to take responsible for it. But I think that the top priority for us is to make sure we run a periodic security audit with hacking with these top security forms, make sure we don't have any vulnerabilities on our platform. That's on the on the infrastructure side. Also, on the... I think on the operational side, we also have rules. We have just identified maybe fraudulent and every... Like, system loopholes. We have kill switch. When we see something really going bad, we can we can just do a temporary suspension on certain operations. So make sure there's no no money actually losing from platform to the hackers on the platform. So that's very important. I think on operational side also, I think it's not not just only the the securities will cause users loss. Maybe certain type of, like, a fraudulent projects. Like, maybe just... There's so many shitcoins, meme coins, all these kind of, like, projects sort of similar. Eventually, it's gonna cause investors to lose lots of money. So we are actually very, very strict on on the listings on our platform. So we only listing some of the top of major major projects in the system. And, also, we look at maybe better quality projects like stocks and The US stocks and commodities. Those does have investment grade values like those kind of projects we listed. So make sure the users who buy or trade our platform, they they get the real values, and, eventually, they can make some money. So that's what we believe. Yeah.
00:19:55 · Neil C. Hughes
[00:19:55] S0: And, of course, as this is a tech podcast, we have to bring in AI at some point. It's almost the law now. How are you seeing AI in improving the industry? What excites you around AI in the industry? Anything you're seeing there?
00:20:07 · Harvey Liu
[00:20:07] S1: Well, there's there's... I would say it goes both ways. I think AI in one hand, they will help us to to improve our efficiencies in many ways, actually. They they... We can. We are building... Now, we are building AI agents to help the user to place trading orders so that make the user more convenient. We also do AI analysis for the coins then maybe may make some just suggestions to the users or traders. And internally, we're also using AI tools to assist us to do coding or or creating new features and do internal audits using AI tools. But I I think there's also a downside to AI is that I think the increasing usage of AI, especially the the increasing capabilities of AI may potentially causing some stress because I think lately, there's many, I would say, many bugs or or many system faults actually have been out there for a long time, but recently being cracked by AI AI big models. And the hackers actually utilizing those bugs and then trying to to get the... Or try to hack into the the centralized systems to get the user response. So that happens also. So I think, eventually, what AI might also do is that there's people just talking maybe just when the AI and then maybe the quantum computing comes together, they might eventually crack the the the Bitcoin private keys and all that kind of things. So... But I think a I think when technology grows, I think the the capabilities of the counterparty grows as well. So I think all of users and programmers and founders, they also are aware there's potential risks. So we we would invest more just to increase our security and prevent the the disasters to happen, and we have... Also, we build a systematic plans. When something really bad happens, we we will... We'll have a kill step switch or or backup plan to stop it. Yeah.
00:22:15 · Neil C. Hughes
[00:22:15] S0: And the industry has come so far in the last decade. It's really evolved and matured now. And I'm I'm curious if you were to look to the future. How do you see the future of DeFi and decentralized exchanges and and even how prediction markets could fit in the next generation of financial platforms. How do you see all this evolving?
00:22:34 · Harvey Liu
[00:22:34] S1: Well, that's that's the exciting part actually being part of this industry, I think. Even as a a founder of the centralized exchange, I do see there's greater potential maybe in in in the decentralized exchange. And, also, as the success of hyperliquid is is actually creating examples for everyone else. I think decentralized might be, I wouldn't say, a 100% alternative, but I think it's very good supplement to what centralized is doing... Exchange is doing. So, basically, what it does is it allow users to to still have their own... Managing their own cryptocurrencies, but at the same time, they can trading on the platform. And, also, the the decentralized exchange will create a a a new type of ecosystem. Basically, there's... The projects can run their own market making or run their own, how do you say, liquidity pool of those decentralized exchange. It'll help the users to better understand or better get involved with the the project itself. So I think LeveX as a centralized exchange, we also are looking at maybe expand. We actually a little bit planning on starting a similar projects maybe in the future. But at this moment, we we want focus maybe on increasing more features on our own platform, maybe put more gamy... Gamifications on the on the trading, lots of new tournaments, to get users more involved. And in the future, we definitely... We we might as as a as an investor, maybe we we take part of of DeFi as well. So I think this definitely will give us more more more future, like, rooms. Yeah.