In a bid to prove crypto isn’t a scam Justin Sun Tron CEO has employed a former employee of SEC to head Tron compliance department.
Through SEC previous employee expertise and eight years’ experience, Sun hopes Tron platform will come out as a fully regulated and licensed working under strict regulations manning the crypto space. Sun believes regulations are an open channel to full adoption of digital coins. He further echoed his remarks in San Francisco during the NiTron summit by saying;
“At Tron, we are optimistic about regulations, and we want to ensure we fully comply with regulations in place not only in the US but also in Japan, Korea, and China. And to ensure we follow SEC’s guidelines we have a former SEC employee. Moreover, I think blockchain is the new operating system and regulation is its gateway to adoption.”
Young but Ambitious
At 28, Sun is proving everyone wrong by making BitTorrent Token (BTT) available on BitTorrent peer to peer file sharing platform. BTT will be available to the masses through Binance Launchpad. Through making BTT available on BitTorrent platform Sun will be able to prove crypto is not a scam and shut haters down while at the same time fast-track the adoption of blockchain technology.
BitTorrent has over 100 million users spread across 138 countries. He bought BitTorrent in 2018 June at $128 million. With BTT aside Sun believes games can also propel the adoption of blockchain technology further.
Similarly, it can also help decentralize the internet. When it comes to decentralization, Tron network gives rights to players while game developers have full control of their games. Tron gaming section has five to three games uploads per day, and at that rate, Tron game collection will be huge within a short time.
Challenges Sun Faced
But all hasn’t been easy for Sun, while launching BTT on BitTorrent. This is after Simon Morris said Sun’s blockchain platform Tron can’t measure up with BitTorrent speeds when it comes to transaction rates. From Morris Remarks, Tron was hit with a plagiarism allegation in June 2018. Tron was accused of plagiarizing codes from other projects including Ethereum. Sun termed the plagiarism allegation as a misunderstanding.
On the other hand remarks of Morris were dismissed by Reddit users who called him an incompetent, and disgruntled former employee of BitTorrent. Morris was the chief strategy officer of BitTorrent. Although Sun faced these challenges, they haven’t deterred him from forging ahead.