Binance’s Zhao calls India the natural frontrunner in the Web3 startup’s space and it seems that the metaverse along the Web3 will create even more financial freedom, unique experiences, and transparency according to the founder of the exchange let’s read more today in our latest Binance news.
Underscoring the role of India in Web3 and the metaverse, the Binance founder and CEO Changpeng Zhao said that India is the natural frontrunner in the next generation blockchain applications:
“India is a huge market, as well as a leader in technology, and therefore will be a natural frontrunner for web 3 startups. We are looking forward to working with outstanding startups in India.”
Binance’s Zhao said that the tokenomics are more fluid and can be accessible by the users compared to equities in web3:
“So overall, I think that web3 will be much more user-powered and user-owned compared to web2.”
According to Zhao, the extent of decentralization of web3 will depend on various elements:
“If the current financial system becomes less restrictive, more freedom driven, low cost, and less inflation, then there is less incentive for users to move to decentralization.”
Reaffirming the commitment to web3 and metaverse, Zhao thinks the blockchain technology will power the future of the digital lives and the internet:
“Web3 and the metaverse will create more financial freedom, transparency, secure information delivery, and other unique experiences.”
NFTs, DEFI, and Web3 assume bigger significance and the world’s biggest exchange positioned itself as the one-stop solution for this infrastrcuture:
“We are no longer just an exchange – we are now the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider.”
Dismissing the concerns about binance’s issues with regulators, Zhao said that the crypto exchange license in Dubai and Bahrain only shows that the company is committed to regulatory compliance:
“I’m also proud to say that we’ve grown our international compliance team and advisory board by 500% last year alone…. We understand the importance of regulation and we look forward to growing the industry in a responsible way.”
At the start of the year, Zhao with $96 billion in net worth ranked the world’s 11th richest person and he owned only BTC and BNB.
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