An currency quietly revised BNB white paper, zhao changpeng so response

According to reports, coon has revised airbnb's white paper, removing a clause about the company using 20% of its profits to buy back the company.

Below: the version on the left shows the original description (highlighted in red) when it was first published in 2017, and the new version on the right. Coon bought back 829,888 BNB in its latest (seventh) deal, worth about $15.6 million.

For the changes in the white paper,Currency,Zhao changpeng, CEO of the company, explained that the change was made to clarify the facts:

"We recently updated our white paper, in order to better describe how we burned BNB. For example, we remove the buyback reference, because we didn't actually buy BNB, only by burning BNB to reduce supply. We have deleted the language of interests, because some places are more tend to profit linked with securities, but we wish BNB away from such links. So, we need to describe the fire work, and burned down what we should be burned."

A coon spokesman confirmed that airbnb still burns 20% of its profits.

But the fact that the white paper has been updated without due process is itself an issue worth exploring. According to the source, the move may be related to coon's attempts to use compliance terms and terms related to the securities industry.

"My first impression is that this seems likely to be a positive adjustment because the goal is compliance," said one cryptocurrency executive. "I think this is a positive step toward better compliance."

However, Stephen Palley, a lawyer and regular contributor to the Wall Street journal, said that if regulators were behind coon's decision, the changes might not be enough to avoid further problems. "A change in wording in the white paper does not necessarily affect a regulator's analysis of whether something is safe."

Moreover, burning only a portion of the tokens does not bring the same benefits to the token holders as share buybacks.

New version of white paper (V1.2)

Click to viewWhite paper comparison between the two versions.

Click to view the original article

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