On October 24, Chanpeng Zhao, the CEO of Binance, a cryptocurrency exchange platform, talked about cryptocurrencies, blockchain technology, and the impact that digital assets can have on social work.
During the ongoing World Investment Forum, Zhao, or CZ as he is more popularly known, spoke about how the world of cryptocurrency has developed so rapidly over the past five years. Zhao said that the seventeen Sustainable Development Goals [SDG’s] proposed by the United Nations can be achieved by solving the issue of transparency.
According to the CEO, the financial system has completely destroyed the faith that people have in the financial industry and blockchain, with its transparent technology, can change that scenario.
He added:
“The world of blockchain technology has a lot of use cases and has to be remembered by everyone. Personally, I believe that with better transparency we can have 100 times better results.”
CZ then moved on to talk about the cons of fiat currency movement. The Binance official stated the example of almost 80 percent of charity transactions disappearing without a trace, which would not have happened if it had occurred over a distributed ledger.
He said that the social impact will be tremendous and the world of charity work will improve a lot with the help of digital assets.
Zhao was candid enough to admit that the lack of tangibility, achievement, and purpose will be overturned by the use of the technology. He stated that the world of cryptocurrencies is important for investments to reach the respective receivers. He also stated:
“Moving money to deal with social problems is also another way to increase adoption. The sheer number of people who have donated to the BCF is also amazing, and I would like to thank Justin Sun who donated $3 million to this cause.”
The Blockchain Charity Foundation, the charity initiative by Binance, is aimed to use blockchain technology to conduct more effective charity donations. The BCF has also partnered with the United Nations Development Program [UNDP] with the Foundation also claiming to have donated $1 million to the United Nations.
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Source: AMBcrypto
Original Post: Binance CEO talks cryptocurrency, Tron [TRX]’s Justin Sun and more at the WIF
