While the mainstream media often highlights the probable impact of non-financial players in the cryptocurrency space, only crypto-enthusiasts notice the decade of work put in by today’s crypto giants. Leading one of the world’s largest crypto-exchanges, Binance, CEO Changpeng Zhao recently featured in a video to share some insights about the company’s roadmap and its contribution to the crypto-ecosystem.
Zhao started the interview by clarifying that Binance is no longer just a crypto-exchange. He added that the company now had a diverse line of businesses, including fiat exchanges, Binance Labs for project investments, Binance Launchpad for public funding and Binance Research for information distribution, to name a few.
Surprisingly, Binance has maintained an organic and dynamic approach towards the addition of businesses into the BNB ecosystem. Instead of paying institutions, Zhao said,
“What we do in return is help them (business withing the BNB ecosystem) market. So I’ll retweet them and will try to help public publicize them. We just got to be reactive in order give the proper support for this ecosystem.”
CZ added that Binance chooses two features as its primary differentiators, speed and ease of use. In his own words,
“Without speed, you don’t get liquidity.”
The young entrepreneur stressed on Binance’s vision to give back to the society through various blockchain-based charities. Such efforts on Binance’s part have improved efficiency and transparency, he claimed. CZ added,
“With the transparency increased, there’s more people willing to donate. Today, if you donate 1 BNB, you can track it to see which school it went to Uganda and which kids it helped.”
This can also be used as a measure to counter corruption associated with traditional charities. Binance also leverages its charity drive to increase crypto-adoption by allowing donations through BNB only, ultimately increasing crypto-awareness in new demographics.
Concluding the interview, Zhao shared his excitement about increasing crypto-participation by non-financial giants, stating, “the more the merrier.”
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