The story of Binance is that which sounds like a fairy tale to anyone who hears it , in a world where Tech companies go through a lot of birth pangs before standing strong, the speed at which Binance got weaned has given a lot of companies hope
Take the right steps and you will flourish
Overnight successes look attractive to us and always motivates us to do something meaningful with our Lives, but we always fail to evaluate the level of work the person who we admire put into becoming who they are
Whenever we hear names like Jeff Bezos or in this case Changpeng Zhao (CZ), we are only concerned about the Billions they wield without caring about their back story
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CZ has a very intruiging history. He is a graduate of Computer Science from Montreal's McGill university. He first built a system that helped match trade orders for the Tokyo Stock exchange
He also developed software used for Futures trading for Bloomberg Tradebook. He quickly rose through the ranks due to his proficiency, getting three promotions in a space of two years and was sent to lead Teams across the world
He quit and moved to Shanghai in 2005 to start Fusion Systems which ended up building some of the fastest high-frequency trading system for brokers
After discovering Bitcoin in 2013, he worked for prominent Blockchain Companies like Blockchain.info where he worked in the wallet team and also at OKCoin where he briefly held the position of the CTO
As a testament to his faith in Bitcoin he sold all his valuable possessions including his house and went all in on Bitcoin in 2014. This action is one which very few people would have taken at that time
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Starting from 2015 , CZ has taken actions and also produced things that singled him out as a person of excellence, he is someone who knows what's needed to be done and when the time for decision comes he does not waver
This was what enabled Binance to have a very successful ICO which made the prize of the BNB token to rocket from 10 cents to $13. CZ owns most of the tokens and has made a wise economic decision of using 20% of its profit every quarter to shrink the MarketCap of the token by 50%
I have always told people. Binance was not an overnight success, it just took off like a Rocket. And this was all because of the Man behind the Codes
The company was able to attain it's current heights because it had a CEO who had experience of what works in the Money Market and he was also fearless in executing what needed to be done
Binance is making more and more moves to secure it's place as a Leading Blockchain Company by delving into Blockchain Education which will a major area where the Blockchain is lagging.
Many people are yet to know what the Blockchain entails and Binance is aiming to use it's wide reach to solve those problems
It is this constant moves that will make Binance to continually reign in a Blockchain world where other companies are only concerned about ploughing in profits
If you don't Innovate or undergo constant business development, your business will die. no matter how much you are making
We have seen what befell Poloniex and how the Exchange fell from prominence and with the look of things, other greats like Bitfinex might suffer the same fate
So the key to Binance rise was Hardwork and a little dose of Non-conformity
Thanks for Reading
