The market for cryptocurrencies has a promising future, and the year 2018 was merely a correction after the excessive growth that occurred during 2017. This was explained by Changpeng Zhao (CZ), the CEO of Binance, in a live interview for Bloomberg.
Forget About 2018. Focus on What Really Matters
In the interview, CZ recognized that 2018 has been difficult not only for investors and fans of cryptocurrencies but also for the development of projects in general, nevertheless he stressed that “there are no worries” regarding the performance in the future medium and long-term because he believes that there is still quite a lot of confidence in these technologies:
2018 has been a tough year in terms of pricing for cryptocurrency, and I think a lot of projects are not making out of this year, so it’s a correction year … I think people in the industry are still very confident of the future, so there are no worries about that.
Binance: Improving Everyday to Provide The Best User Experience
According to CZ, the strategy and business philosophy sustaining Binance have not changed at all; in fact, he noted that the company’s expansion plans are now more aggressive and structured, offering more services to a larger and more heterogeneous public:
Our strategy has not changed at all. We have launched one fiat exchange so far, and we are about to launch two or three in the next month or so. Next year, we still want to build ten more fiat exchange and we’re also launching our decentralized exchange which is a very important core blockchain technology-based exchange. None of our plans change, and we’re pushing very aggressively.
Builders Are Key To The Whole Ecosystem
CZ ended the interview pointing out that although the price of a token is one of the most discussed topics by the community and the media, what really matters for the future of a cryptocurrency is the development of its technology and the confidence users have in its potential.
For this, instead of Hodling, the Binance team promotes Buidling: a word that seeks to explain the confidence in the development of applications and scenarios of real use that allow giving a value to the currency and its blockchain beyond speculation:
“I think price is a very strong traction for a lot of speculators. But the industry are going to grow by builders, those that build applications and the actual adoption of cryptocurrency in the long-term.”