Next, Zhao is traveling to the Turkish Capital Markets Summit, set up by the Turkish government, with intentions to \u201csupport that market proactively\u201d when it comes to putting in place a regulatory framework.\u00a0<\/span><\/p>\nFeatured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"Changpeng “CZ” Zhao, blockchain expert and CEO of leading cryptocurrency exchange Binance, is more than optimistic about the future of blockchain and digital currency, saying the industry will only get bigger over the next few years. In an interview with Bloomberg published this week, he takes on the future of blockchain-based technologies, discusses the recent positive developments in China, and comments on international regulation efforts and the role Binance is playing to foster their development.\u00a0 Comments by ECB Last week, Bitcoin was called \u201cnot real\u201d and \u201cnot the future\u201d by former European Central Bank (ECB) president Jean-Claude Trichet, who is worried about the volatility of cryptocurrencies and what impact that may have on the market.\u00a0 In response, Zhao highlighted the immediate relevancy of time frames: Bitcoin, being that it’s still a nascent technology and a smaller cap instrument, inherently has volatility. He reminded listeners that the fundamentals behind the technology are sound, and that in the longer term \u2014 one, five, or ten years on the horizon \u2014 the industry will only get bigger and prices higher. China Leading Blockchain Development\u00a0 He discussed recent comments about blockchain made by Chinese President Xi Jinping, calling them \u201csuper positive.\u201d Zhao believes that China, who is \u201cvery pro technology\u201d and investing heavily into blockchain initiatives and education, will set the bar for the rest of the world when it comes to the industry, saying: \u201cit\u2019s harder to move faster than China, I think we\u2019re gonna see a race there.\u201d As for cryptocurrencies, Zhao reiterated the connection between the digital coins and blockchain and said that since they go hand in hand, in the future \u201cwe\u2019ll see a very strong adoption [of cryptocurrencies]” in China. Zhao also shut down the recent rumors that Binance is opening an office in Beijing. Though he does say that the exchange is hoping to work with and follow recommendations made by Chinese financial authorities:\u00a0 “Our strategy is very simple. I think we want to follow the recommendations very closely and we want to promote the Blockchain technology research and development.\u201d Binance: Role in Regulation When it comes to regulation elsewhere, Zhao called it “a race towards adoption.” He spoke on the role that Singapore has as a key market player in the area, saying that the country\u2019s regulators have an in-depth understanding of blockchain technology and promote \u201crigorous but also sensible\u201d crypto regulation. Related Reading: Throwback! One Year Ago, 50% Bitcoin Price Dump to $3,000 Began Binance also recently signed a memorandum of understanding (MoU) with the government of Ukraine to advise on a regulatory framework. Next, Zhao is traveling to the Turkish Capital Markets Summit, set up by the Turkish government, with intentions to \u201csupport that market proactively\u201d when it comes to putting in place a regulatory framework.\u00a0 Featured Image from Shutterstock<\/p>\n","protected":false},"author":521,"featured_media":404506,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12132],"tags":[10768,428,1273,1310,1558,3631],"class_list":["post-404500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-binance","tag-bitcoin","tag-changpeng-zhao","tag-china","tag-cryptocurrency","tag-regulation"],"acf":[],"yoast_head":"\n
Blockchain and Crypto: Binance CEO Has High Hopes for the Future<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n