Changpeng Zhao, the CEO of Binance, recently took part in an AMA and shared his opinions on how cryptography has developed.
Changpeng Zhao Says Individuals Will Not Be Involved in Binance Cryptocurrency Listing Process
CZ, CEO of Binance, claimed in an AMA that the banking industry is growing more inefficient and that the rise of encryption has nothing to do with the failure of banks. Simply said, cryptocurrency is a way for people to invest.
“The better the banking system, the better cryptocurrency.”
CZ
He continued by saying that the developers had to focus on making encryption simpler to use. If banks are particularly eager to cooperate with and engage with encrypted firms, he thinks that the assistance of banks will be the biggest problem in the face of regulation in various jurisdictions.
Traditional Financial System and The Encrypted Financial System
Both parties stand to gain from the market achieving true and practical liquidity integration between the conventional financial system and the encrypted financial system. CZ declared that he thinks financial education and support for banks are very significant and that we should spend a lot of time and effort on them.
On the other hand, it is encouraging that Hong Kong is adopting cryptocurrencies. He thinks Hong Kong is wise as China’s “encryption testing ground.”
About Listing Projects on Binance
Furthermore, CZ has stated that he is unfamiliar with the majority of the projects listed on Binance and that he does not take part in the listing process. The main aspect taken into account by the independent committee that assesses requests for listing on the exchange is the number of registered users on Binance.
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