The Defiant - DeFi Podcast Why Yat Siu Believes Altcoins Will Surpass Bitcoin
Oct 21, 2025
Yat Siu, co-founder of Animoca Brands and a visionary in Web3 and gaming, shares insights on digital identity and the future of altcoins. He unveils plans for a Hong Kong dollar stablecoin, emphasizing its potential to combat digital fraud. Siu discusses the creation of the Mocaverse, a system allowing verifiable identities across chains, and argues that altcoins might collectively eclipse Bitcoin due to their innovation and utility. He also predicts that upcoming games, like GTA 6, will drive mainstream adoption of crypto in gaming.
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ZK Proofs For Private, Verifiable Identity
- Mocha plans to use zero-knowledge proofs to preserve privacy while enabling verifiable reputation and data custody.
- Storing user-controlled data on-chain can address GDPR-like custody challenges by shifting custodianship to users.
Make Scores Portable, Not Identities
- Make reputation portable across chains so an ID’s score can be read by other ecosystems without revealing identity.
- Use attestations and shared proofs so parties trust scores while preserving privacy.
KYC Wallets Were Being Resold
- Animoca found up to 80% of KYC'd project winners were not the original signees because wallets were resold for airdrop access.
- This highlighted why verifiable, non-transferable identity attributes are necessary to prevent airdrop farming.