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The CEO of Binance spoke about his vision for the future of the Web3 industry and India’s “fundamental role” in the development of cryptocurrencies.
Changpeng Zhao stated in an interview with Inc42 that India is a “natural leader” in the development of the Web3 industry and blockchain. According to him, this is a huge market and the most comfortable country for Web3 startups.
The head of the largest cryptocurrency exchange in the world shared his thoughts on how the Web3 industry will develop. Zhao is confident that the tokenized economy is more flexible and accessible to users. The new economy, according to the businessman, will be more manageable and truly owned by users, unlike Web2.
The degree of decentralization, Zhao says, will depend on a variety of factors. For example, if the current financial system becomes less restrictive and freer, cheaper, and less subject to inflation, then there will be less reason for users to move to Web3. However, in his opinion, it is the blockchain that will determine the future of the Internet and digital reality.
Metaverses and Web3, says the founder of Binance, will provide greater freedom, transparency and security.
“We are no longer just an exchange – we are now the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider. Last year alone, we increased our global compliance team and advisory board by 500%,” says Chapren Zhao.
Recall that earlier the businessman said that cryptocurrencies are not the best tool for circumventing sanctions, as they are too traceable, and governments, together with law enforcement officers, are increasingly monitoring such transactions.
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