Paribu CEO Yasin Oral evaluated the turbulent year 2022 and talked about the New Year’s goals.
Over the past two years, there has been a general uptick in the cryptocurrency markets as decentralized finance has become widespread and centralized institutions in this field have increased their activities. However, in the rising period, liquidations started with the leveraged transactions made by the central institutions operating in the sector by borrowing and the tightening policies of the central banks that followed. This reversed progress in 2022. Paribu CEO Yasin Oral evaluated 2022, which is seen as a difficult year due to the risks brought by rapid growth and the events at the global macro level. In addition, Oral shared his targets for 2023 with the public.
Paribu CEO Refers to What Happened in 2022
Paribu CEO Yasin Oral evaluated one of the most important events of 2022 as The Merge, where Ethereum was upgraded to a new version.
Talking about what happened in the crypto industry this year, Oral said the following about the industry;
“When the risks posed by the leading sector players are added to the negative effects of the interest rate hike in terms of cryptocurrency prices, bear market effects have started to be seen. Security vulnerabilities in decentralized products, problems in centralized products and companies negatively affected the cryptocurrency markets in 2022. There were problems on the central side, especially due to the lack of internal control of companies and the effect of malicious actors in the ecosystem. This has increased the need for internal audit, external audit and regulation for cryptocurrency trading platforms. Although the value of crypto money markets decreased due to the problems experienced on the central side in terms of market value, the developments in the field of technology continued in the decentralized world. One of the highlights of 2022 was the seamless transition to the new version of Ethereum. On September 15, the Ethereum community switched to a newer technology, proof of stake, leaving the proof of work system used to protect the network and keep it running.”
Paribu CEO argued that the concept of NFT is more important than the term investment. Mentioning the usefulness of NFT, Oral underlined that there is a great interest in NFTs from all walks of life and major players in all sectors.
Oral talked about the integration of NFTs that meet with video games, music and different entertainment tools. Paribu CEO stated that the NFT industry was productive in terms of integration in 2022 and popular brands also contributed to this.
Referring to the gaming industry in the crypto industry, Oral said;
“The speed of the game industry to adapt to innovations and the reshaping of dynamics such as P2E (win as you play) has caused investors and developers to turn to this field. The gaming industry, which maintained its growth stability, continued to grow in a combined manner, becoming the target of the blockchain networks needed for the construction of P2E. As the transaction volume and user numbers of blockchains increased through games, performance metrics showing that the network is reliable and usable also increased.”
Paribu CEO Yasin Oral Talked About His Goals for 2023
Paribu CEO Yasin Oral announced that the crypto industry entered the new year in the shadow of the crises experienced last year. Commenting on 2023, Oral said, “In general, in such periods, it is possible that prices will stabilize and the foundations of the next optimistic market will be laid. Bear market periods are periods when innovation in core products does not stop, and even when developers take a more active role. We can say that 2023 will be such a year.” said.
Believing that the new year will be more productive for the crypto industry, Oral continued his speech as follows;
“After the crises experienced this year, it is likely that there will be new developments especially in terms of regulation. Here, we can expect that legal regulations will be gradually implemented abroad and in our country, especially for centralized structures holding user assets and stable currencies whose value is anchored (pegged) to nominal currencies. It seems that 2023 will be a year in which the sensitivity of central stock exchanges in terms of security, management and customer assets will continue to increase. Already, the European Union has brought the legal regulations on this issue to the final stage; It will start to be implemented in 2024.”
CEO Oral did not neglect to evaluate the Paribu side of the new year. Oral gave the message that Paribu will continue its investments.
Talking about Paribu’s goals and New Year’s goals, Oral said;
“In 2023, we will continue to continue the projects we have developed on decentralization. We will continue to invest in technology and expand our team, as we do not build our company strategy according to market movements. We continue our investments with Paribu Ventures, which we established with a fund of 30 million dollars. We currently have more than 15 investments. In 2023, our investments will continue to increase. We will start working more on our integrations in our collaborations. It will also be a year when we focus more on decentralization and technological support in projects such as Paribu Cineverse involving NFTs. In addition to developing the technological infrastructure in Paribu, we continue to work on technological products that will directly contact the end user. 2023 will be a year for us to introduce Paribu users to our different products other than Exchange and to touch people’s lives more.”
CEO Oral also touched upon the support Paribu offers in terms of culture and art. Oral said the following on the subject;
“As Paribu, we believe that the values that carry us to the future should be preserved, developed and accessible to everyone. For this reason, as a technology company, we take responsibility and support the field of culture and arts with our sponsorships. This year, we continued to contribute to the field of culture and arts by adding new ones to our existing collaborations. We will continue to increase our support in 2023.”
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