Note: The original article was written by Work in Fintech!

This is the first interview in the series of "Interviews with Fintech and Web3 Leaders" with William Quigley. In this in-depth interview, Matthew Cheung, founder of Work in Fintech, talks with William Quigley, a leader in the technology and financial technology industry.

In this conversation, William opened up to us and shared his growth trajectory, from his involvement in the early financial industry, to becoming PayPal’s first institutional investor, to co-founding Tether, and building WAX, the world’s most active blockchain platform.

William Quigley’s Early Career and Journey into Venture Capital

William’s career began in the 1980s with the Andersen Savings and Loan Crisis, which introduced him to the world of modern finance and securitization. In 1994, he saw the huge potential of the Internet and transitioned from Disney to venture capital. After leaving Disney, he co-founded a venture capital firm with his partners and established the concept of investing in emerging technology fields, especially focusing on consumer Internet.

Tether and the Beginning of the Stablecoin Concept

In response to the dissatisfaction with the complexity of cryptocurrency trading, William and his partners launched Tether, the first stablecoin backed by fiat currency. He explained how Tether revolutionized the cryptocurrency trading field by providing traders with stable assets. In addition, he also talked about the challenges faced in convincing banks to work with Tether, and how this innovative concept has gradually gained recognition in the cryptocurrency community.

The rise of NFTs and WAX

William discussed the background of the birth of WAX, which aims to digitize virtual items in video games and gradually expand into the field of NFT. He revealed the limitations of Ethereum in the early days and why WAX needed to build its own blockchain to handle NFT transactions. He shared his unique insights on the future of NFT, emphasizing that NFT is not limited to collectibles, but will play a key role in a wide range of industries from digitized legal currencies to digital assets such as passports and legal documents.

Advice for startups and newcomers in fintech

William advises young people to gain basic experience in large companies to gain a deeper understanding of the operating models of successful companies. However, he also emphasizes the importance of finding opportunities in market potential that large companies may ignore. He believes that artificial intelligence, blockchain and digital monetization assets will continue to shape the future and bring unlimited possibilities for innovation and entrepreneurship.

The Prospect of Blockchain and Artificial Intelligence

He predicted that within the next decade, all fiat currencies will be digitized, and AI will play a vital role in auditing smart contracts and decentralized finance (DeFi) models. He stressed that while AI may replace some jobs, it will also create new opportunities, especially in the blockchain and fintech sectors.

For anyone interested in the future of fintech, cryptocurrency and blockchain technology, this interview is undoubtedly a feast not to be missed. William Quigley draws on his deep industry experience to provide valuable career advice and insights into the rapidly developing technology field.

For the interview, please visit: https://www.youtube.com/watch?v=W877zuNnqkI

*Friendly reminder: This article is for popular science purposes only and does not constitute any investment advice!