Binance and her plans for the future
The interview started with the Binance question. Changpeng explained that people usually consider Binance as a big crypt-currency exchange office, which is certainly true, but CZ sees much more in it. The best way to describe Binance right now is:
"We are building an ecosystem. We are trying to be a provider of infrastructure services for tomorrow's block industry. Right now our ecosystem consists of an exchange, wallet, lab, charity program, news, academy, and more. We hope that some of them will become an infrastructure for the industry as well. "
Zhao further explained that while 2017 was the year of growth, when we talk about the volume of business and the number of people who registered Binance, the current year 2018 is the year of construction. The current situation and the decline of the market this year commented with the following words:
"In fact, it gave us enough time and space to build a stronger base. Now that the market is up again, we'll be ready. "
He went on to plan Binance for the future:
"... I could share some ideas with you, but those ideas are still changing."
At the end of the conversation, he had yet to comment on what he wished people to recall when the word Binance was said. He responded to this question that he wanted people to think and use the word Binance as a verb, as they use the word Google (googlovat) every day. Well, that's a really good ambition and we keep our fingers coming out. And what is the ultimate goal of Binance? So he and he shared with us:
"Being an infrastructure service provider - that's our ultimate goal. Today, if you drive along the road, you do not think of driving on the road - you just drive. Find the road and drive. We want to be just that road. "
Institutions' entry into cryptosphere
In addition to general inquiries about Binance, CZ was questioned about what institutional resources are meant to penetrate into the world and how it could impact the whole area.
Zhao responded immediately and said "institutional participation is a very good thing." Particular attention was paid to Fidelity's planned entry into cryptographic markets. It is a transnational company that manages more than $ 2 trillion. He explained that after the entry of Fidelity into the market, the overall market capitalization will increase significantly. He also said that institutional investment would improve the stability of virtual currencies globally, thereby increasing adoption (encryption) in society. And this will lead to another crypto-threatening growth, as people begin to cryptome more interested and jump into a fast-moving cryptomimeter train.
"I think it's very positive. It's only a matter of time. I do not know how fast it will happen, but I'm sure it will happen. "
He also added that most of the institutional capital came from the United States, where they also have the strictest regulations. It is therefore supposed that the influx of this money is likely to come from Europe and Singapore, due to the lax regulatory requirements for registering companies.
Final words
Although the situation in the cryptographic markets, which have seen relatively high sales in recent days, is quite bleak, CZ is clearly convinced of the long-term growth of the cryptogenic market. So we'll see if his bullish outlook will become a reality that we all wish.