At the Consensus 2021 conference, Changpeng Zhao, CEO of Bainance Exchange, noted that there is no transparency in governments’ approach to digital currencies, saying that no institution can destroy bitcoin or the Blockchain, and that governments should embrace it. Accept this technology.
to the the report CoinDesk, Zhao talks in a pre-recorded interview. In this interview, he states:
I do not think anyone can do it now [بیت کوین] Disable; Because we have to keep in mind that this technology, this concept, exists in the minds of 500 million people. You can not delete it easily.
According to Zhao, the struggle to eliminate bitcoin and other digital currencies is like rejecting Amazon’s Internet business model in the 1990s; When this store had just started. Elsewhere in the interview, he noted that digital currencies were not created to destroy the traditional economy or government-backed Fiat currencies, and that they were born to create more “monetary freedom.”
Zhao said in this interview:
Digital currencies are just one new tool to increase monetary freedom around the world. I do not look at them as a competitor to lawmakers, and there are ways they can work together.
He also referred to Bainance as the world’s largest exchange in terms of trading volume and the strictness of lawmakers. According to him, bitcoin and other digital currencies face special legal challenges after experiencing unprecedented popularity.
It’s not just about American lawmakers; Government agencies around the world have raised concerns about Bainance’s activities, while Bainance has previously claimed that it does not have a headquarters in any particular country or region.
Zhao noted that his company does not intend to confront any government or country. He added that the ambiguities surrounding Bainance’s business were likely due to a lack of legal transparency. He added:
We are not at war with governments. We have seen many times that legislators or legislatures do not have much transparency. Legislation and legislative bodies [در این حوزه] Are taking shape in different parts of the world; For this reason, there are many ambiguities in this area. However, we must experiment and work together to overcome these obstacles.
Zhao does not seem to have a clear approach to binance. The interesting thing is that Bainance has a strong presence in every branch in this field, from defense to non-parable tokens and tokenized assets. He said about this:
I’m not smart enough to predict what will happen in the future, what will become popular, or what project users will accept. Bainance is more organized in such a way that we do a lot of testing and experiment with different issues.
In another part of his interview, Zhao said that he tries to take a less top-down approach to decision-making, and this approach becomes more prominent when it comes to big projects like China’s Bainance Smart. Bainance Smart China is a China-specific Bainance blockchain that has become a strong competitor to Ethereum in recent years. Zhao says about this:
Bainance Smart China suddenly entered the market and my idea [هم] Was not.
Zhao’s remarks about Bainance are probably in response to increased hacker attacks and security breaches in Bainance-based smart chain protocols. In recent months, we have witnessed widespread attacks on these protocols, and some of them are included in the list of the largest security breaches in the history of Difai. Because China’s Bainance Smart is tied to the Bainance Exchange, many claim that Zhao and Bainance Exchange are responsible for the attacks. Zhao said about this:
Bainance Smart China is an independent Blockchain and we have no control over it. Projects on this Blockchain also operate very independently. If I talk to them, they [هم] They talk to me, but I do not talk to them at all.
However, he noted that the success of Bainance Smart China also affects Bainance Exchange; Because BNB acts as the main token of this blockchain. It should not be forgotten that Changoping Zhao and Bainens are known as the largest holders of BNB tokens.
Unlike Ethereum, Bainance China uses the PoSA consensus protocol, and network control is in the hands of 21 nodes selected by BNB holders. Some experts say that Smart China Binance Credentials are somehow related to Binance.
Zhao had previously stated that China’s Bainance Smart had to sacrifice decentralizing elements to achieve scalability; This issue has become one of the problems of the Ethereum.