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Charity and stable coins lead to considerable acceptance of cryptocurrencies

April 30, 2020

At Virtual Blockchain Week (VBW), Binance’s founder and CEO, Changpeng Zhao (CZ), argued this Stable currencies and nonprofit initiatives can lead to significant acceptance of cryptocurrencies.

CZ also discussed Binance Academy’s work with Chinese government institutions on blockchain projects and announced that it hopes that Binance can influence the shape of the country’s regulatory strategy.

Cryptocurrency charity programs promote acceptance

During his “informal chat” with VBW hosts, CZ stated that crypto-based charity programs are driving global acceptance of cryptocurrencies.

Charity and stable coins lead to considerable acceptance of cryptocurrenciesCharity and stable coins lead to considerable acceptance of cryptocurrencies

“If I’m going to give you a crypto donation, you’re more likely to get a wallet or register an account on an exchange to accept it.”he explained. “This type of adoption is a positive first contact for many people. So acceptance is increasing. “

“We also see that it improves Binance’s reputation […] We were received much better in many cases […] Countries due to the charity. So there is some selfishness. “

Stable coins promote acceptance among traders

After speaking to Cointelegraph, CZ said that he believed it Stable currencies will help promote acceptance among traders and retailers.

“Before [las stablecoins] It was like two extremes: either you were in USD or Fiat, [o] on BTC or Ethereum or BMB, and the price fluctuates against Fiat, “he said, adding that cryptocurrencies” can be really problematic for a shopkeeper because their spending is fixed “.

CZ describes stable coins as an “intermediate step”, The claim that tokens denominated in Fiat solve the problem for individuals and traders who want to be in cryptocurrency but still need to cover their expenses with Fiat money.

Binance is seeking to partner with the Chinese government on DLT

When asked about Binance’s plans for the recently launched Blockchain Research Institute in Shanghai, CZ said that the institute, together with the Chinese central government, will focus on researching applications for distributed general ledger technologies (DLT).

“Chinese government agencies are keen to learn more about blockchain,” he said. “They are very smart in the sense that they said, ‘Well, if we want to understand that, let’s understand, let’s not be strangers trying to regulate a range of experts.’

“We work closely with the governments there and they respond very quickly.”he affirmed and emphasized: “We want to influence this process.”

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