Binance CEO Interview: Future of Exchange, Binance DEX, and BNB

so we finally corner cz. you had a very
busy day at the second day of the Binance conference how's it going so far I think
things are going great the energy level was high everyone's – I learned a lot of
stuff at this conference myself so I think things are going quite well do you
think that we are starting to be more rational right now what do you think's
happening I personally think the crypto space actually now today is much
healthier than he was a year ago so we're actually much healthier than ever
the there's the tons of good opportunities to invest now contrary to
at the at the all-time high and there were tons of bad opportunities to invest
and people invest in those but I think today right now there's lots of really
good opportunities the valuations are good we see now the guys were you're
building today they are they have really good projects I even had a hackathon
with us I talked to all six of the finalists and all six of them I just
talked to them now again for the next steps of a different type of potential
co-operation and how to make them into applications so that now they're really
good projects going on and you can see that everybody who's participating here
they are they're very still very enthusiastic and I think right now
there's like a conference every day and the number the number of people going to
conferences the number of people working in this industry are increasing so the
the industry still going very strong even though the price of dropped a
little bit since last year but if you look at two years past if you look at
more than two years ago you're like two years ago it was like $300 for a Bitcoin
so today's $3000 it's not too bad at all now we saw like fundamental changes in
finance I saw a star Fiat exchange you know not just a binary now you're going
beyond so what's kind of the vision for finance going into 2019 so I think I
said a few times in different places where we do want to build five to ten
Fiat on-ramps around the around different parts of the world hopefully
spreading out from different continents so that's one that goes for – this year
which is to get the Fiat on-ramps Marcus as well
we see that that's a limiting factor for the industry growth right now so we want
to help the industry grow and attack the market and so far the Jersey market just
overwhelmed with demand so so that shows there's a pent this pent-up demand there
so at the same time so CR is one way so right now the way I view it is although
most of the monies is going Thea so this much
the crypto market cat so we need to get the Fiat coming in on the flip side on
the other side of it we are working on the decentralized exchange so the – Dex
will come Iverson so I don't think competes at all I think the people who
use centralized exchanges and decentralized exchanges and we so well
that's three categories really so there's there are people who use Fiat to
crypto centralized exchanges and now you can't really decentralize anyway because
the banking relationship you can't do it then that there are people who are using
crypto to crypto centralizing these changes no because there's very high
liquidity faster systems etc and then this exchange take care so we're
security you got to rely on exchange some people view that as less secure
some people view that is more secure than doing themselves and then there's
the guys who want to control their own private Keys want to be on more yeah
more anonymous so most of the guys in the core community are heavy power users
that and they're they're loud they speak more and they other they want to use Dex
so we see that not really competing we're just offering different solutions
to different people and we always let the user shoes and we let the market
choose so if the market today the market is now definitely choosing the
centralized over decentralize these changes because the centralized ones are
much bigger so the market already yeah and you know but I think everyone kind
of have the same view that the central exchanges will be the future so we want
to provide those options and let the market decide and we see the same number
of assets like the ERC 20 tokens that we are familiar with trading on the
decentralized x exchange or is that gonna be different so I think over over
over time we will see more coins traded on the decentralized exchange because
there's less control and that's la is decentralized initially we we because
though it's – change the native chain and but I – you can eat your own tokens so
some of the ERC20 tokens make – the tokens and we already
have confirmation our number of large projects were doing that they have to
migrate completely from etherium on to finance yes so basically if you use if
you're only using ERC 20 as a token there's known that this there's no real
reason for you to stay on ethereum where spine is chained you'll get one
second transaction confirmation one confirmation is final so it's a much
faster chain and the transaction fees are cheaper so if there's a lot of
advantages for them to move to the bonus Chan and which or which integrates a
native Dex decentralized exchange so you don't have to use a slower more
expensive distance-wise exchange so there's a lot of benefits for the tokens
to migrate if you're using some other feature of the smart contract on your
theorem that not talking issue is it not talking issues related then we don't
support that on – change initially so then you probably have to stick with er
c20 so it's like financially would not be turing-complete whilst I go have my
features that are built in but then it's not like a theorem where it's like
absolute like crazy anything yes absolutely so that's exactly right
so the Binance chain actually a very simple chain where to create a token you
don't you don't write a small contract so you just you just specify a few
parameters you specify the token name the token symbol and how many
decimals you have and pay a small fee actually relatively large fee initially
we want to we want to block out the scammers I pay a fee in BNB and boom you
have your current you have your token so it's a much easier to use much less
programming involved and so because we don't have the smart contract
there will be no EVMs virtual machines to be faster so it's a much condensed
special-purpose chain but we we target while application so I'm more of the
application type of guy I like to put things into real application use and buy
because it's faster we think your hand are much larger you are you capacity is
throughput so more hopefully more people use it awesome okay we have it like you
know right now STOs are very hot so kind of the main jargon that we here
right now so what's your view on sto what Finance have security tokens or
it's not going to be something for you sure so sqe is definitely a very
interesting space but excuse relates very heavily to regulatory regulations
so we already have a to regulatory licenses at different places with
different partners long term islam with our motor stock exchange so that's
probably the most proper security license you can have outside of the US
so but we are still hundreds enter what are we supposed to do or what can we do
or can we not do with it so we're and that's not our strength so
we're kind of waiting to see how other people do it and once other people
figure out what they do I cannot do then we can potentially copy them shamelessly
and then grow that so that's a Truffaut answer let them step on some mines if
they blow up you know and it's not so much we want to avoid stepping on mines
just that it's not ours threaten strong point it requires a lot of lawyers a lot
of guys in the regulator space so those guys were have better expertise in that
area than we did we're violence is more of a technology
shop so and the community it was just technology driven so we want to do what
we do best it's awesome like more personal question I've seen you a lot on
Twitter a lot you know you're interacting a social media a lot more
what's the weirdest place you've ever used Twitter or Instagram I'm not too
sure so I think I used to I used Twitter the most right so I just somehow got
used to it and then I don't I don't really use Instagram that much because I
don't the repost features missing but on Twitter I just speak my mind I just be
myself so I think my personality do comes through Twitter
sometimes I attack people sometimes I'm very polite sometimes I stay away from
from certain topics so I just be myself and I think just having that interaction
with the community that's also a very good place for me to learn our user
feedback so Twitter as much like as much as salt as much as salty people are on
there sometimes to get a bad feedback there's a lot there's also a lot of good
feedback so yeah I learned a lot from Twitter as well tattoo well actually so the tattoo
conversation came up a couple of times deeper on Twitter but I was in Singapore
with the word eagle with the Jared Gareth and Luke and the Luke he already
had a Bitcoin tie to you and he said he's gonna get a mark home market cap
did you look at Luke is the second guy from our market camera so he's gonna get
a coin market cap 2t and then he's gonna bind it get a minus 30 I was like what
if he's gonna get a minus that to you Oh what am i I can't just sit around
so said okay let's get a bonus to do and that Garrett's pitching tents that he's
gonna get a bonus to do as well so the three of us went to a tattoo shop in
Singapore I got it like about a month ago so now it's killed really well I
like it yeah actually I'm okay with one for now I think I think for me the bonus
logo is very meaningful I think if you want to tie to something on your body if
you meaningful to you so I don't I never encourage other people to get the –
tattoo but I think when they want to do it it's meaningful it's meaningful
enough for them well actually the – that we stuff it has meaning but it's very
meaningful for me so that makes sense right so but – as a project it's very
meaningful for me I think even if we change the logo tomorrow this load was
still meaningful to me so I'm okay with having it on my body the ballast had to
solve it's symmetric both horizontally and vertically and it's got actually got
two squares on the two squares means that the business asks and they overlap
the overlap part is the center square and then the other two squares they form
a chain so you actually saw the chances in the middle and then so there's a
trade and when you get trades going on chain you can have a decks so there's a
lot of meaning inside this logo that people don't know about so there's a
story behind it yeah so it's cool it's Pournami I like it yeah but I don't
think I'll get a second tattoo anytime soon I'll tell you oh yeah thank you so
much for the interview thank you so much for being here and I mean keeping
everything awesome all right thank you so much for all the help and everything
else thank you so much thank you

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