Who Is Changpeng Zhao (CZ) from binance?

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“Cryptocurrency will survive regardless of any one country. Most countries that try to ban tokens like bitcoin cause their citizens to want cryptocurrency more.”

Changpeng Zhao CEO of Binance (@cz_binance)

Binance CEO Changpeng (CZ) Zhao is the richest man in the world in the cryptocurrency industry and one of China’s ten richest people with an estimated fortune of about $2.6 billion. Photographed in a dark blue hoodie, Zhao appears to have become the face of Crypto’s Secret Billionaire “whales” Club. . Sources: 10, 13

Imagine that the Binance exchange is like the old wall street exchange. Only its quicker, more efficient, more transparent and anyone can exchange value in a matter of seconds. Anywhere, anytime. Especially from your smartphone. 

The applications for the healthcare industry are immense. Not just saving enterprises, governments and people time. But by creating a more efficient system as a whole. Combine this with smart contracts and encrypted technology, means that hours of time and millions in resources could be saved and diverted to the patients that need the care right now. 

Understanding binance in 7 ways

1. Who is Changpeng (CZ) Zhao

2. When was binance founded?

3. What is Binance?

4. What is binance coin?

5. Is cryptocurrency safe from hackers and centralisation agendas?

6. How would he advise future innovators in their industry?

7. Will Binance smart chain be the death of Ethereum? 

the Future Of Cryptocurrency?

1. Who is Changpeng (CZ) Zhao

Zhao took his first role in the cryptocurrency world when he co-founded the cryptocurrency wallet company Blockchain info, now known as Blockchain.com

Zhao also worked at the Beijing cryptocurrency exchange OKCoin before founding his company, which is one of the largest cryptocurrency exchanges in the world, based initially in China.

Eight months later, in February 2015, he announced he would leave OKCoin and return to Shanghai to become CEO of Binance, a company focused on providing cloud-based trading technology to exchange operators. A subsidiary of Zhao’s founded an exchange development company, BijieTech, which provided cloud-based exchange systems to a number of Asian exchanges. He gained access to the world’s largest cryptocurrency exchanges such as Mt. Gox, Bitfinex and Bitstamp, as well as to China’s largest exchange. Sources: 7, 10

He shares that intially “I decided to apply for a job as an analyst at a global financial services company in London and left to become the research and development manager of the London office of the Beijing cryptocurrency OKCoin. It was a good introduction to the world of decentralised finances. 

I then quit my job at OK coin and in July 2017 founded Binance, a cryptocurrency exchange platform”. Sources: 1, 7, 8

He shares that “the move was perfect for me, there was a lot of interest in the cryptocurrency market in China and huge growth potential, so I had to make a decision. It is now the largest stock exchange In the World based on trade volume And there are more than 1.5 million active users and over 2.4 million users on the platform. Sources: 1, 3, 12

2. When was binance founded?

The Binance company was founded in July 2017 and held an initial coin offering (ICO) for investors. His commitment to crypto was clear from the start, when he sold his house in Shanghai to be able to afford the venture. Bitcoin fascinated him so much that he sold his only house outside Shanghai to get everything – in Bitcoin. Sources: 0, 1, 12

Beijing has monopolized the Chinese market – with companies like OKCoin and Huobi based there, Zhao’s exit could be a boon in the dark. While many large blockchain companies are seeking China as a market to gain a foothold, Binance, which is originally from China, is one step ahead. Sources: 6, 16

The company was originally founded in Hong Kong but was forced to move its offices to Japan after the Chinese government banned trading in cryptocurrencies in September 2017. Binance was not welcomed there, however, and moved its offices back to China in October 2017 after a legal dispute with the central bank of China. Sources: 14, 15

3. What is Binance?

Binance is the cryptocurrency exchange founded by Changpeng Zhao and He Yi in July 2017. Binance started with an Initial Coin Offering (ICO) and has since grown into one of the largest global cryptocurrency exchanges, both in terms of volume traded and market share by web traffic.

4. What is Binance Coin (BNB)?

Binance Coin (BNB) is an exchange-based token created and issued by the cryptocurrency exchange Binance. Initially created on the Ethereum blockchain as an ERC-20 token in July 2017, BNB was migrated over to Binance Chain in February 2019 and became the native coin of the Binance Chain.

Binance Coin has seen massive growth in interest throughout the years. Several rounds of token burn events have appreciated BNB price and pushed it up as one of the top-10 cryptocurrencies by market capitalization. BNB can be traded in over 300 trading pairs across 120 exchanges tracked. 

5. Is cryptocurrency safe from hackers and centralisation agendas?

In response to a Twitter complaint on June 2, 2019, Zhao clarified that there is no country – a specific blockade that prevents people from trading on decentralized exchanges like Binance’s DEX. CZ also explained:

“Binance is always ready for new hacker attacks and suffers from new ones every day, but due to the improvements we have made in the last few months, we are the safest exchange on the market.

Zhao said that to remain relevant, they may have to adjust their business model, as the collateral set out in the DeFi protocol has risen to more than $11 billion this year. Sources: 2, 5, 17

6. How would he advise future innovators in their industry?

What advice would you give to entrepreneurs just starting out in cryptography in 2019?

CZ shared “just stick to what you believe in, the cryptocurrencies and the dAPP’s and start as a trader invested coin. Invest in the team, the project and the problem they solve for humanity at large.

If there are a pump and dump, or if there is a frontal attack or there is fake transaction volume, we will have fairness for both investors and retail investors on our platform. Sources: 4, 9

7. Will Binance smart chain be the death of Ethereum? 

In 2020 during the pandemic, Binance Smart Chain went live on main-net, activating the parallel blockchain to Binance Chain that will enable the creation of smart contracts and the staking mechanism for BNB. Any interested individuals and/or organisations can gather BNB stakes to become a validator of this new blockchain.

Binance Smart Chain aims to be the “Ethereum Killer,” says Zhao, and to provide a solution for users and developers frustrated by Ethereum’s soaring transaction fees. We will seek a second block that will make it much faster than decentralised exchange,

“Zhao told the crypto briefing. The symbol of the stock exchange, the BNB, is of course, One reason Binance has achieved billion-dollar company status.

Anyone who wants to buy a cryptocurrency like the Vietnamese Dong can do so on the Binance exchange, but they do not have to. Sources: 11, 15, 16, 17

CZ

SUMMARY

All in all, much of Binance’s success has been attributed to its founder and CEO, Changpeng Zhao, known to his 465k Twitter followers as CZ.

He met Bitcoin in 2013 and joined Blockchain info, where he worked as a developer for several years.

In the years since, Zhao has worked on numerous cryptocurrency projects, including Blockchain Info, and was also CEO of OKCoin. 

In 2017 he founded Binance after selling his house to invest in a new future of decentralised finance. Today in 2020, Binance and Binance smart chain are solving many challenges that will connect every day people with the immense potential of blockchain and the cryptocurrencies. Saving time, energy and resources along the way. Watch this space.

Call to embodiment – Script

Click the link above and explore the world of Binance for yourself

How does CZ’s story inspire your life and journey?

He courageously leaned into a vision that he believed in. Stood up to traditional banking systems in China, one of the most powerful economies in the world. 

What can we learn from his journey?

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Rory Callaghan
Rory Callaghan

Founder Selfcare.global

Rory is the founder of selfcare.global and author of SelfCare – Lifestyle medicine for the people. He has a background in sports science, human movement, exercise physiology, yoga, pilates and a masters degree in physiotherapy. He takes a human, nature and spiritually energetic approach to good health, wellbeing and longevity. Over time he has developed an integrated, holistic and functional tool belt that helps him consult with high performing humans and entrepreneurs. His passion is to merge ancient wisdom with the modern lifestyle. Empowering people on their own journeys, whilst co-creating thriving :blue zone” communities & longevity hot spots.

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