Changpeng Zhao: Individuals Will Not Be Involved In Binance Cryptocurrency Listing Process

Key Points:

• According to Changpeng Zhao, the banking industry is becoming increasingly inefficient, and the collapse of banks has nothing to do with the development of encryption technologies.
• He said that the most challenging issue is securing the support of banks, particularly if banks are extremely eager to cooperate and engage with encrypted companies. He thinks this will be the case if banks are particularly interested in working with encrypted enterprises.

Recently, Binance CEO Changpeng Zhao participated in an AMA and gave his thoughts on the evolution of cryptography.

In an AMA, Binance CEO Changpeng Zhao stated that the banking business is becoming increasingly inefficient, and that the failure of banks has nothing to do with the growth of encryption. Cryptocurrency is simply a method for people to invest. People do not jump into crypto after failing their banks since they want various forms of assets. 

“The better the banking system, the better cryptocurrency.” He added that the developers should concentrate on making encryption easier to use. He believes that the largest issue in the face of regulation in various regions is the assistance of banks, if banks are especially eager to work and interact with encrypted firms. 

In this method, the market may achieve true and convenient liquidity integration between the traditional financial system and the encrypted financial system, which benefits both sides. He stated that he believes bank support and education, particularly financial education, are extremely important and that we devote a significant amount of time and energy to them. Hong Kong is embracing cryptocurrency, which is a welcome move. As China’s “encryption testing ground,” I believe Hong Kong is prudent.

In addition, Changpeng Zhao has indicated that he does not participate in the process of listing projects on Binance and that he is not familiar with the majority of the projects that are listed there. The number of registered users on Binance is the primary factor considered by the independent committee that evaluates applications for listing on the exchange.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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