CZ: Not Running an Exchange Now, BNB Chain is Developing a New Version that is Faster, Cheaper, and More Privacy-Focused

BlockBeats News, June 20th, Binance founder CZ participated in the Galaxy Brains podcast and was interviewed by Galaxy Research Director Alex Thorn. CZ stated that he is no longer running the exchange platform, allowing him more time to interact with developers and express excitement about some new features of the BNB Chain. He mentioned that the BNB Chain is currently being developed for the next version, which will be faster, cheaper, and incorporate more privacy control. CZ also advised blockchain developers not to implement major upgrades during a bull market but rather to progress significant updates during quieter bear markets.

CZ acknowledged that a year to a year and a half ago, he was skeptical about RWAs, unsure if such assets would see any trading activity or if they could gain traction. However, the rapid development of RWAs has surprised him, with stablecoins, oil futures, AI stocks, and other assets gaining good acceptance within the crypto community. This indicates that there is a global demand for avenues to access these assets.

Crypto should not be seen as a separate industry but as a new technological tool that makes financial transactions faster, cheaper, and more transparent. He believes that traditional financial institutions can leverage blockchain technology, and crypto companies can offer services similar to traditional finance such as loans, savings, stock trading, remittances, and payments. In the future, there should not be a clear distinction between traditional finance and crypto; instead, it should evolve into a more global, faster, and lower-cost financial industry.