One of the most influential people in the cryptocurrency community is Changpeng Zhao (CZ) and he was interviewed about the current and future status of blockchain and cryptocurrency. The founder and CEO of Binance shared his opinion about the market, prices and his belief that blockchain will have a greater impact on the world than the internet.
The impact of blockchain on the world
The above interview dates from November 27 and CZ says he is not following the daily cryptocurrency price promotion. According to him, price forecasts are difficult to make in the short term because the market is not handling news as well and it is reacting too strongly. However, he is a strong advocate of blockchain and its potential global impact. He even seems to believe that it can become bigger than the internet itself.
“The market always reacts excessively. It is very difficult to predict the price in the short term, but if you look 3, 5, 10, 100 years further into the future, then blockchain will have a greater impact on our society than the internet. At the moment about 0.1 percent of our population has crypto, maybe even less, so there must be a thousand times more people with crypto. We know that this technology is not going away; it’s going to change the world; it’s going to change our lives. “
He also points to the fact that cryptos have a limited offer. More people will become involved in the industry and if this happens, the price can only rise, CZ said.
The role of crypto and blockchain in China
China remains a hot topic within the crypto community. Although cryptocurrencies are still discouraged, the government is actually pro blockchain and is pushing for further acceptance.
CZ also confirmed China’s “Blockchain, not Bitcoin” policy. He says, however, that the possession of bitcoin in China is not illegal. Zhao also believes that China is a strong proponent of mining.
From the government’s perspective, CZ understands that it imposes restrictions on cryptocurrency’s and stock exchanges. He thinks this is in preparation for their own central bank coin:
“It is very logical for the Chinese government to say: the Chinese Central Bank issued currency should be the only one used in the country. It may only be used for online payments. It does not become a cryptocurrency such as bitcoin, where you can do whatever you want with it. China wants to promote its own currency instead of the other cryptocurrencys that are not controlled by them. “