A recent crypto conference in Hong Kong, known as TOKEN2049, saw a gathering of some of the biggest names in cryptocurrency and blockchain technology.  

Among them was Phil Chen, world-famous technologist and head of HTC’s blockchain division as decentralized chief officer (DCO), giving his thoughts on the latest developments in the crypto space while discussing his team’s recently released blockchain phone, the Exodus One.

In an interview with NewsBTC, Chen noted that the Exodus is one of the world’s first-ever blockchain phones, adding that he believes it is the only one which enables users to own their private keys.

Calling the feature “a foundational principle of the decentralized web” on which Exodus was built, Chen says it gives users not only ownership over their Bitcoins, but also the very same architecture to own their digital identities and personal data.

When asked what he envisioned for the future, Chen said the goal was to get every person with a smartphone to “start owning their identity on their phone,” and empowering them to connect to all crypto networks.

The DCO also likens centralized private cryptocurrencies that are not based on blockchain — such as JPM Coin and Facebook Coin — to intranets, in reference to surveyed, permissioned, secure internet systems used by corporations before the advent of the internet.

While Chen acknowledges there is room for both decentralized and private coins, he believes the issue lies with private coins being “fundamentally surveyed capitalism,” as opposed to the neutral, borderless, and censorship-resistant nature of Bitcoin. For these reasons, he sees them as antithetical to one another.

Source: www.newsbtc.com

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