Binance Founder CZ Discusses BNB, BNBChain, and Its Ecosystem

Original Article Title: "Binance Founder Changpeng Zhao Discusses BNB, BNBChain, and Its Ecosystem"

Original Article Author: RPC Cat Friends Club

Original Article Source: Wu Shuo Blockchain

Guest Introduction:

David Namdar (X@namdar): CEO of BNC, also a Co-Founder of Galaxy Digital, with over ten years of experience in cryptocurrency and capital markets. He currently serves as the CEO of BNB Network Company (BNC), a Nasdaq-listed company, leading a BNB-centric digital asset treasury project, dubbed the "BNB version of MicroStrategy" by the outside world.

CZ: Founder and former CEO of Binance, he is also one of the most influential entrepreneurs in the global cryptocurrency industry.

David: Alright, good morning, CZ. Great to see you. CZ: Good morning, David. Nice to see you too.

David: I'm very excited to have this conversation with you. We've known each other for a long time, and it's been a fantastic journey. The recent market has been exciting, especially today as BNB is hitting a new all-time high. How are things on your end? Where are you joining us from?

CZ: Things are going pretty well. I'm currently in Tokyo. As you said, BNB is hitting a new all-time high. I'm not entirely sure of the reasons behind it, but I believe your efforts have certainly contributed, so thank you. Overall, things are good.

David: It's great to hear that. I'd like to take a moment to look back. The journey we've had in the crypto space has been remarkable. Going back to 2017 when BNB was just launched, it really stood out in that wave, being the first project to break the mold and was quite innovative at the time. How do you view the evolution of these years? Did you ever imagine it would grow into such a thriving ecosystem?

CZ: That's a great question. Initially (in 2017), BNB was an ERC-20 token on Ethereum, solely used for fundraising. We knew back then we would develop a blockchain that was public, decentralized, and so on. But I didn't actually expect it to grow into a complete ecosystem. So seeing all of this now is really fulfilling. To be honest, in the past seven to eight years, most of my time was spent running centralized exchanges. During that time, I didn't actually dedicate much time to the BNB Chain. Over the past two years or so, I had to deal with the U.S. government, handle U.S. government cases, fly to the U.S., spend four months in jail, and other such things. So in the past 7–8 years, we didn't actually invest much time and effort into the BNB Chain. Nevertheless, the community has grown. Especially this year, we started to pay more attention to the BNB Chain. I'm also now focusing more on the BNB Chain — I don't have anything else to do.

CZ: And you are also in this ecosystem, which is really powerful. This year, we have seen the BNB Chain really thriving. This is a good thing. I think even today, the BNB Chain is still "underdeveloped," and the entire ecosystem is also still "underdeveloped." This means there are still many opportunities for different projects to grow. Overall, I think it's great.

David: Yes, I completely agree. Recently, I have indeed been waving the flag for BNB outside, and have been doing my best to explain to investors the difference between BNB (as an asset) and BNB Chain (the entire ecosystem), and how it has evolved to no longer be tied to any single company. How do you usually explain this difference to everyone?

CZ: Yes, many people are confused because many media outlets like to refer to BNB as the "Binance Coin." This is related to history: indeed it was called that at the beginning. We later tried several times to reshape the brand, hoping to distinguish the two. BNB initially had more rights on the Binance centralized exchange, but now, as you said, it has become a self-sustaining ecosystem. BNB is a native asset on multiple blockchains, currently including BNB Smart Chain, Greenfield, opBNB, and previously the Tendermint-based BNB Beacon Chain. In the future, BNB will also be the native token of multiple blockchains adopting updated technologies.

CZ: BNB is the token that powers the decentralized ecosystem of the BNB Chain, and it is very different from the "Binance company's token." Although Binance's centralized exchange still offers fee discounts using BNB, that is just one of many use cases. Centralized exchanges also provide BNB holders with opportunities to participate in some profit-sharing airdrops, such as Launchpad, Launchpool, Binance Alpha, etc. But again, this is a part of BNB's equity. BNB itself is a very thriving and large ecosystem: there are multiple DEXs, perpetual contract DEXs, lending protocols, stablecoins, etc., on-chain. There are many things on the BNB Chain. In fact, I also find it quite difficult to explain to many people clearly, and everyone is easily confused - so I think you are better at this aspect than me. Thank you for your help.

David: No, not really, but thank you for your praise. Let me tell you, what I am really doing outside now is providing explanations as much as possible. You know, we have also discussed many times: I have been in this field for a long time, witnessing various evolutions. I have seen many people come in and leave, as well as iterations and innovations, especially driven by regulatory factors. Right? So for me, being able to explain clearly how this "evolution has happened" now, including what you have built over these years, and you are one of the best builders in the industry, this is a great thing.

David: In my view, BNB is a collection of many things, and it has already shown that over the years it may be the most iteratively upgraded chain. Every chain - such as Ethereum - has its own roadmap, many different ideas, and upgrade visions. We also know that Bitcoin has many "political factors" in terms of BIPs (Improvement Proposals), with many iterations as well. So, in a sense, BNB can be considered one of the most successfully upgraded and evolved chains in recent years.

CZ: Yes. I think every chain has actually been evolving all along. The BNB chain has indeed evolved more, as it evolved from a Tendermint-based blockchain. It was initially an ERC-20 token, then migrated to the Tendermint blockchain, became an EVM-compatible chain, and also grew into a layer two solution (opBNB). Next, we have Greenfield (storage layer). There are still some new variants being considered and developed. From this perspective, we have evolved more structurally. Most other blockchains start from one architecture and then maintain it, while from the perspective of the BNB chain, the BNB token is the native asset across multiple blockchains. The underlying technology can evolve over time.

CZ: I have discussed this with some core developers several times. They are looking at what the "next generation" will be: the next generation of architecture should be able to provide 100x, 1000x throughput, greater capacity and stability, lower fees, and should have a "full understanding" of AI and be AI-ready; at the same time, it should natively support stablecoins, RWAs, and more. There are many discussions on this. I hope our mindset, and the community's mindset towards BNB, is that this coin will be the native coin across multiple blockchains, and the technology will continue to evolve rapidly. I hope we can achieve this together.

David: Yes, totally agree. Moreover, a large part of this is about the community, as you mentioned. Over the years, the community has been motivated by you, the BNB Chain team, and all participants. I have been observing this myself and have seen a high level of enthusiasm from the outside world. You mentioned stablecoins several times just now, so let's delve deeper. The "stablecoin story" is in its prime right now: with the recent Circle IPO, coupled with Ethereum's performance over the past few months, Wall Street and many investors are starting to realize the potential of stablecoins, and the impact of the Genius Act. I would tell everyone that in many ways, we see very strong growth of stablecoins on the BNB chain, even surpassing Ethereum at some stages. So, how do you view the stablecoin landscape on the BNB chain? From a global perspective, do you see stablecoins as a "USD ETF"?

CZ: There is so much to talk about regarding stablecoins. People now realize that stablecoins may be one of the biggest businesses in crypto. The centralized exchange Binance has a strong influence on "which projects can be listed," but in terms of profitability, I believe Tether may be the most profitable company per capita in human history. For example, they make $13-15 billion in profit per year with about 200 employees, which is too exaggerated. So now everyone wants to do stablecoins. Circle has also achieved some success. In fact, about two years ago, BUSD was halted by NYDFS, but it grew from 0 to $23 billion in two to three years; and that was during a relatively "anti-crypto" government period (the Biden administration's "war on crypto"). But USDC was not halted, so it continues to grow and is now publicly listed.

CZ: Now there are thousands of projects trying to create stablecoins, which is great. I think it will bring more diversity, some will provide higher returns, some will have new features, and so on. But if you really look at the stablecoin landscape, my impression is: stablecoins are not actually that necessary domestically in the United States. Although today in crypto, the largest stablecoins are dollar-denominated and pegged to the dollar, in the U.S., there is ACH, and domestic transfers are relatively easy. The massive use of stablecoins is actually in international scenarios outside the U.S. Stablecoins help make the dollar more dominant globally; frankly, every country wants their currency to be more widely used globally. For example, China's renminbi also hopes to become a globally dominant currency, as do other countries. Stablecoins are one way to achieve this. They help crypto, help the blockchain industry better integrate into the traditional financial system, and give crypto practitioners a stable, at least fiat-denominated value anchor in the ecosystem; which is also very helpful to various countries. So, from a pure economic benefit perspective, countries should incentivize the development of their own stablecoins.

CZ: Back to the BNB Chain ecosystem. Historically, USDT and USDC did not offer strong native support; they only recently started issuing natively. I believe Tether has not yet issued natively on the BNB Chain, while Circle has, but also only recently. So, there is a gap, a niche to be filled here. I think USD1 has filled that niche very well, and in the past few months, we have seen it grow very strongly. So, I think stablecoins will continue to exist, becoming a major player — to be precise, a very big race. Looking back a few years, I myself did not understand it well at the time. When we first started Binance, I was thinking: Who would use stablecoins? Why not just use fiat? But stablecoins have indeed solved many problems: international transfers are much easier using blockchain; the blockchain is borderless, helping to keep prices in sync across different exchanges; and it is also a more user-friendly "fiat form." Because of this, it has grown very rapidly and will continue to grow. There are still many opportunities in the stablecoin race on the BNB Chain as it is not yet fully developed. We see the significant growth of USD1, and I actually expect more development there.

David: Yes, I agree as well. This brings us back to NYDFS. They have indeed been causing issues. Even since I first entered this field, New York's BitLicense has been slowing down innovation—not just in New York, but also across the United States and even globally, as many regulators look at New York's BitLicense and use it as an excuse to hinder the development of crypto. So the "war on crypto" started earlier. Now, looking at many stablecoins, I will also go back to the original Tether. Tether was born out of industry demand: people were moving value between different exchanges, and existing financial infrastructure was trying to block it. Tether played its role and grew into what you mentioned—a company that is the most profitable in the industry and globally. With the increasing activity on the BNB chain, the demand for stablecoins will naturally be captured and will help support this activity.

David: Next up is the next area, RWA. I think we have finally reached a turning point in RWA growth. Over the past few cycles, we have seen "start and pause": from the earliest real estate tokenization projects to some fund tokenization. But now we are indeed seeing a lot of RWA activities picking back up. How do you see our current position in the RWA adoption curve? And what are some observations you have made around the BNB chain?

CZ: We have been in this field for more than ten years, as "hardcore believers," believing that everything will be tokenized. Not only buildings, traditional money market funds, but even "people" can be tokenized; virtual things too. So everything can be tokenized, but it is not easy. I personally think that more traditional financial instruments will be tokenized first because they are more suitable for trading. For example, real estate, with less price volatility and low trading volume, has poor liquidity. If you tokenize a building, because the price is relatively stable, the trading volume will not be high; without enough trading volume, people will not place large orders on the order book, leading to even poorer liquidity. If you want to enter or exit with millions or even larger amounts, it will be very difficult, and abnormal price behavior may occur.

CZ: Not every asset is easy to tokenize. Cryptocurrencies, because of their high price volatility, have actually formed a "feature" that makes everyone more willing to trade, resulting in higher trading volume. Additionally, when you tokenize a building, if you want to buy the entire building, you must buy all the tokens on the market; the last few token holders may not want to sell, causing the price to spike. Furthermore, owning "pieces" of a building does not necessarily mean that you can live in it, in other words, how to enjoy what kind of economic usage rights and economic benefits. There are also regulatory concerns: when you tokenize a building, is it considered a security? Or something else? Who will regulate it? In large countries, this issue is particularly prominent because the financial market may have multiple regulators; in other countries, this may not be a problem, but the regulatory framework is still crucial—what can these tokens do, and what can't they do? Many questions are still unanswered today.

CZ: I think RWA will be big, it will get bigger. If stablecoins are also considered RWAs (many people do count them as such), it's already big. Other upgraded assets will also be very interesting. But personally, I believe that traditional financial assets will be tokenized first, followed by bulk commodities that are easier to conceptualize and redeem (such as oil, wheat), and then finally other things.

David: That makes sense. That's also one exciting aspect for me in the current cycle: many crypto players are venturing into the traditional financial realm like never before; at the same time, we see some TradFi (Traditional Finance) players trying to enter the crypto market. For example, Galaxy – I think they are recently one of the first, maybe the very first, companies to tokenize their equity, you should have seen the related news. We will see more attempts like this. Whether there will be a real demand, whether the crypto community will really be interested in participating in the "tokenization of stocks" in the traditional financial market – this remains to be seen. Now, back to the topic of "transitioning value from centralized exchanges to decentralized exchanges" and other future areas. In a recent BNB AMA, you mentioned: If you were to start over, in your early twenties, you would work on an AI Agent and a privacy-focused DEX. This point resonated strongly with me. When you contemplate that inflection point – I've also heard you talk a lot about the "future landscape," about how the crypto market is moving from centralized exchanges to DEX. How do you think this will evolve?

CZ: Of course. First, to respond to another point you mentioned: the tokenization of stocks. I think this is the "most obvious" thing to do because which country does not want their stocks to be accessible to a global audience? The issue is, most stocks will be categorized as "securities." Around securities, each country has very strict laws (most have regulatory bodies like the SEC), and then there is some kind of international SEC alliance. So now some people issuing stock tokens are trying to bypass many "circles" by separating "tokens" from "securities."

CZ: This will bring issues: the token price and the stock price are not in sync, which is not right. In my view, if there is a price difference, you should buy the cheaper one and then redeem it into the more expensive one; as more people do this, the price difference will disappear. But the reality is that the price difference has always existed, indicating that the process from start to finish has not been connected. In my definition, this means that this product "is not yet working." But I do believe that the tokenization of stocks is a big market, and we need regulators to provide very clear guidance – what can be done, what cannot be done, etc. I know many countries are piloting this, whether in the U.S., UAE, or other countries, etc.

CZ: Back to AI. I think AI will increase people's interaction volume by 3-6 orders of magnitude, like from a thousand to a million times. In the future, each of us will have thousands to tens of thousands of agents working for us in the background. There will be agents to transcribe this content – maybe AI is already transcribing this podcast episode. Hopefully, in the future, there will be agents to edit videos, pick out highlights, help me remove wrinkles, and then post them online, and monetize in some way. For example, people can watch one-third for free, to see the remaining two-thirds, they need to pay a little, or even just pay a "tiny fraction of a penny." All these transactions will be "high-frequency, low-cost." I believe blockchain is the only solution that can handle this type of transaction. AI will significantly increase the transaction volume on the blockchain.

CZ: At the same time, blockchain can also do a lot for AI: for example, "AI security," such as privacy protection, secure training, secure data collection and usage, etc., can all be achieved through blockchain in a truly user-controlled manner. I have also talked to some AI companies: they will use blockchain to achieve "transparency in the algorithm development process", allowing people to peek inside, because right now it is a black box. We do not know which data was used for training, but it seems like AI can always provide answers. For example, if I ask AI to summarize any book — —if AI has that book, I am not sure if it has paid for each book; I am not sure if AI has paid $10 for each existing book; if I ask it to summarize a paid web page, AI can inexplicably do so. Therefore, AI has many potential issues that can be addressed by blockchain. I once again believe that this is a huge industry. Or better put: at least in my lifetime, there are three foundational technologies — the Internet, blockchain, and AI. The Internet still has many opportunities, but the latter two have just begun; all three have great room for growth, especially the latter two have tremendous potential.

David: I completely agree. I have also spent a lot of time researching the AI market and its evolution. Last year, I was pondering many ideas, such as establishing a bank specializing in serving AI agents — each of us will have thousands of agents, conducting "trillion-level" transactions every day, exceeding the scale our brains can comprehend. We need an ecosystem based on blockchain, that is scalable to accommodate those activities. You have also mentioned that AI cannot KYC, cannot open accounts with exchanges and banks. So, without blockchain intervention, this would be impossible. Looking back to 2017–2018, I was involved in one of the earliest AI agent projects, but it did not materialize, called "Botchain." When you have unlimited, unimaginable "machine-to-machine" communication, we need to trace, and those records must be verifiable and on-chain. This way, during audits, one can see: where my LLM/agent pulled data from, where yours pulled from, and what agreements they reached over a period of time.

David: Now, I would like to backtrack a bit from the topic of CEX and DEX because this is another fascinating issue in the market. Looking back over the past few cycles, centralized exchanges have long been key drivers of many activities and the "first stop" for many people in crypto. Now we are seeing rapid growth of DEX, which I believe is a trend that both of us expected to continue. How do you think this trend will evolve over the timeline?

CZ: This trend is very clear. In the more distant future, DEX will be larger than CEX, this point is very clear. As you said, CEX, in my opinion, is the "stepping stone" for people entering the crypto world. Users from Web2 will find it easier to start with email and password, with customer service and someone to guide them. The concept of custody platforms is also easier to understand, as it conceptually resembles a bank. But as they gain more experience, they will say: now I have my own wallet, can manage it myself, which gives me more freedom and control, and also means more responsibility (like protecting the device). Once people grasp these concepts, they will transition to DEX.

CZ: So I 100% believe that in the future, DEX will be bigger than CEX. Therefore, the on-chain — chain ecosystem — is very important. That's why, in my view, in the long term, the "chain ecosystem" is far more important than any centralized exchange. In this sense, I am forced to no longer spend time on centralized exchanges, which is actually a good thing. Now I can spend more time contributing to the decentralized ecosystem. And it's actually quite interesting because once you get used to it... I would say, currently, for ordinary people, the decentralized ecosystem is still relatively difficult to use. The trading volume is increasing, quite significantly, but for ordinary users, using decentralized products will show a lot of random strings, a lot of random numbers on the screen — how to deal with that? Even in a centralized exchange, there are many numbers, but at least they are understandable. We need to as a community make products better and more user-friendly. But "on-chain, decentralized" is definitely the future; otherwise, we wouldn't be in this industry, right?

David: This also ties in with what excites me about the market today. Looking back at my career: I come from the traditional financial world, but now I am a "crypto enthusiast," a "lifelong cryptonian," and will always be so. I have always been trying to connect the crypto market with the capital market: trying to create a Bitcoin ETF, getting Galaxy listed, and helping other companies go public. In every cycle, I try to help as many people as possible see opportunities, to become a small bridge between the two markets. In terms of where we are today: we see a lot of activity flowing from centralized exchanges to decentralized exchanges, but at the same time, the vast majority of wealth and capital in the world still flows through traditional finance, through centralized exchanges and markets in the traditional world.

David: I believe the truly huge opportunity now is "Digital Asset Treasuries." This is the achievement Michael Saylor has made in the past five years. In fact, I just talked to someone about it: Michael Saylor wasn't always a Bitcoin believer. On the contrary, since you and I entered this field, we have always held high the flag of Bitcoin, while also doing our best with BNB and have always been believers for the long term. I also often tell people: you might be the person I've seen in the industry who can make everyone take a step back and stay focused at every fluctuation — "focus on holding the offer, don't get shaken out by the fluctuation." Fluctuation is a "feature," especially when you are in a rapidly growing asset class. As the regulatory environment improves and investors' awareness of the potential and value of digital assets increases, I think Saylor has led the trend, advancing in front, understanding the potential of these assets as they enter governments' and companies' balance sheets, along with Japan's Metaplanet's Simon, today's David Bailey and Anthony Pompliano, many people are holding up the flag of Bitcoin, helping people understand how these assets can uniquely enter government and corporate balance sheets.

David: I am also very excited to tell everyone the story of BNB and explain how special and unique of an asset it is. Based on this, whether from an investor's perspective or as the CEO of a leading digital asset custodian company, I see a need: we must focus on a few truly special, unique crypto assets because not all crypto assets are the same. You and I are very clear about BNB—there is something special here. Over the past few months, it has indeed outperformed Bitcoin; from the beginning, it is one of the few assets that can outperform Bitcoin. When you think about the digital asset custodian and the new wave, how do you see this market and the opportunities within it?

CZ: There are many things to unpack here. First, let's go back to basics: humans like to use "categories" to understand things, thinking it's easier; such as "traditional finance vs. Web3," "Web2 vs. Web3." But in reality, there are no boundaries: ultimately, it's all finance, just using different technologies. Traditional finance can completely use blockchain technology; banks can use blockchain technology; and crypto companies should also deeply integrate with the traditional financial markets and market structure. We shouldn't draw lines to separate but should fully integrate—terms are just used to help people better understand. In this sense, crypto companies should tap into existing markets (fundraising, finding developers, acquiring resources), and existing financial markets should also adopt new technology.

CZ: Regarding Michael Saylor, my intuition is that he probably started to be active in the public eye around 2017–2018, or maybe even earlier. Once he understands, he has a very strong belief. We ourselves have gone through this: first learn, then "transition" or "completely transform," becoming a staunch believer, and then you can ride through the volatility because you can see the longer-term future—not the price of tomorrow or the day after tomorrow (those are unpredictable), but the trends five or ten years from now. This is interesting. Saylor invented a new framework, and he did try to explain this at different times, but I didn't fully understand, but I respect him for it. This new framework allows crypto companies to raise funds from the traditional market. The traditional market is bigger, and many investors can buy company stocks but cannot directly buy crypto; by buying "indirectly related to crypto" stocks, they gain easy access to Web3. Once they have this indirect gateway, they will continue to pay attention to crypto and will help the ecosystem grow.

CZ: In this regard, Saylor has used a very simple strategy to build one of the most successful companies in the world. Although he is a hardcore fan (Bitcoin Maxi, only focusing on Bitcoin), there are also many other very successful cryptocurrencies, including BNB and many other public chains. Looking at the success of Binance (a centralized exchange): if it only listed Bitcoin, it wouldn't be as successful; it's precisely because it listed multiple assets that it attracted a large number of users into crypto. You and I both agree that BNB has shown strong performance and has many use cases. We are at the intersection point you mentioned: connecting traditional finance with Web3 finance. Tools like DAT allow crypto companies to access traditional market funding and also allow the traditional market to participate in crypto, benefiting both sides. The more people are exposed to BNB or other crypto assets (whether directly or indirectly), the more they help the crypto ecosystem.

CZ: This is something that is "extremely mutually beneficial" for both parties: once a company or investor has indirect exposure to BNB, they may recommend it to friends; if they know developers, they might say, "Why not develop your protocol on BNB?", "Why not use BNB for this?", "Why not use another cryptocurrency for that?" This will help the ecosystem grow. An important point is that in the decentralized world, it is not driven by a specific company or individual. I am not "driving" everything about BNB; I do what I need to do, but I do not manage everyone in the ecosystem, and they do not report to me. The more people tie their incentives to the ecosystem, the more they will contribute, in turn helping everyone in the ecosystem. Even in a decentralized world, if we can help more people form a "symbiosis," it will also drive ecosystem growth. So I think this is a great thing: Michael Saylor set a precedent, and now we are adopting it, and you are leading the way, which is fantastic.

David: Thank you for your recognition. Like we have discussed through many crypto cycles, this can be said to be a path that was not initially anticipated. You have spent a lot of time communicating with various governments and company executives. We early on envisioned: one day governments would buy Bitcoin, Ethereum, BNB, and other digital assets. But back then, we did not realize that a "corporate form" could emerge, whose goal is to maximize the "amount of Bitcoin or BNB per share," to accumulate these assets, becoming very large holders; this provides investors with an incredible way to gain exposure to these assets and ecosystems. More importantly, as you mentioned: through obtaining this exposure, everyone will step-by-step delve into the ecosystem, forming a special "flywheel."

David: I often cite the example of El Salvador (the trip we took together a few years ago). El Salvador did something special: adopting Bitcoin, making itself "stand out." From the perspective of "actually holding Bitcoin," they also received a nice return on their invested dollars; but the bigger return was "putting themselves on the map," gaining worldwide recognition. They attracted entrepreneurs, developers, and investors from around the world. When 10,000, 20,000, 100,000 people enter a small country, the compounding effect of scale will fundamentally change the trajectory of that country in a generation's time. We see similar phenomena all over the world: as long as a country opens up regulations, attracts innovators, entrepreneurs, and capital, opens the door to crypto, they will eventually reap more and more dividends over time.

CZ: Absolutely. I completely agree. Before Michael Saylor, if someone had told me, "You can create a publicly traded company to buy cryptocurrency assets," I would have thought it was too crazy: how could that work? This also reflects my insufficient understanding of the public markets, traditional financial markets— even though I have been in fintech for many years, I have never operated a publicly traded company, so I didn't understand. Saylor clearly has more experience, and he figured it out. And then El Salvador is also very interesting: this is a case where leadership is very clear— President Bukele. If it weren't for his push, we wouldn't have gone there (why would I go there?); if it weren't for his push, Binance would not have set up a customer service office there, and so on. I think this is a classic case: a country that quickly or early enough adopts new technology can reap greater dividends.

CZ: Let's take a look at the United Arab Emirates (UAE) again. The UAE has always been "pro-crypto, pro-AI," attracting many entrepreneurs. The UAE doesn't have many natural resources—there is oil, but not much else; it's a desert. But now it is a world-class, prosperous city (two cities). Everyone likes it there, the economic performance is very good, and the country is growing rapidly. I believe that those countries that adopt technology early and in the right way will grow very fast. This goes back to the innovation we see: DeFi, AI, and so on. If a country can adopt these new things, the economy will continue to grow.

David: I also like such examples. The achievements the UAE has made in 10-20 years are quite amazing, the growth is compounding. As a wrap-up, if we talk about your vision for BNB and the entire crypto ecosystem in the next 10-20 years: how do you see the "possibilities and potential"? How would you measure "success"?

CZ: My perspective is: how many people can we help with BNB. Many companies do not focus on poor countries, underdeveloped countries, such as Africa, Southeast Asia, because the ROI is not obvious at the moment. But if you look at Binance (the company, not the BNB chain), there are many users in Africa today, and these users currently bring in little revenue; I think in ten years, they will bring in a lot of revenue, and there won't be anyone else there. We help them first by allowing them to access finance; afterwards, they will reap rewards, and the platform will also receive returns in a proper manner, which is a win-win.

CZ: For BNB, the opportunity is even greater because it is a decentralized, open network and protocol. What I want to do is: bring the next few billion people to the next wave, providing them with the next stage of new financial technology—the "next generation of financial technology." As the world's population is likely to continue growing, we should empower 10 billion people or more and provide them with financial services. That is the goal in my mind. It is not a price target, not a competition with other public chains or surpassing Bitcoin. As you said, BNB has indeed outperformed Bitcoin historically, which is amazing and challenging; but I don't think that is the right "benchmark." The right "benchmark" is: as a community, how many people can we help. The more people we help, the more people join the community, and this is a phenomenon of self-growth. We should continue to do this.

David: I think this is a beautiful answer; thank you. I always try to keep everyone in the right mindset: focus on the long term, focus on building, focus on helping others. This is a beautiful vision.

CZ: Exactly. I think you have this mindset. You are one of the best personalities I have met in the industry; you have been in this industry for a long time and are very mission-driven. So when you say you are willing to take the lead, we are all excited. Whether you need me personally, YZi Labs, or any of our affiliated companies or teams, we are happy to provide support. At the same time, other participants in the ecosystem, or participants outside the BNB chain ecosystem, we are also very willing to seek their help.

CZ: I believe that enabling collaboration across the entire ecosystem and expanding the ecosystem is very important, as it will benefit everyone.

David: Absolutely. This has always been my way of working: collaboration. I also like to tell everyone that I have defined "Why I Love Crypto" as the most non-zero-sum game in the world. Good participants are all striving to increase their market share. In fact, one more point I want to summarize is: think about the "next billion, the next two billion" people, they will only live in a world where crypto is becoming increasingly important. This is a beautiful future vision.

CZ: Absolutely, indeed.

David: CZ, it's been my pleasure. This conversation has been very enjoyable, thank you, it's been a great discussion. CZ: That's great, thank you very much.

David: Goodbye for now.

Original Article Link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia