Former Mt.Gox CEO Highlights Centralized Risks and Scam Projects in Blockchain Industry

According to Odaily, former Mt.Gox CEO Mark Karpeles expressed concerns about the excessive centralized risks and the prevalence of scam projects in the blockchain industry during an interview at Korea Blockchain Week. Karpeles emphasized that many projects in the industry are either scams or fail to introduce any significant new content. He stated, 'There are too many such projects, and I have to use the word 'bad' in a very broad sense because they are either scam projects or projects that do not bring any particularly outstanding new content.' Karpeles also advocated for Hierarchical Deterministic (HD) wallet technology, suggesting that if HD technology had been available during the Mt.Gox era, the infamous incident might have been avoided. HD wallets are designed to securely manage and generate multiple pairs of public and private keys from a single master seed.