According to Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange Binance, it is currently impossible to kill bitcoin and its underlying blockchain technology, so governments and regulators must use blockchain technology and cryptocurrencies.
“I don’t think anyone can kill Bitcoin given that this technology, this concept is now in the heads of 500 million people,” Binance CEO Changpeng said in a pre-recorded interview aired during the CoinDesk Consensus 2021 virtual conference. You can’t just destroy it (bitcoin). ”
Fighting Bitcoin and other cryptocurrencies now will be like refusing to accept Amazon’s online business model when the e-commerce giant first started in the early 1990s, Zhao said. Cryptocurrencies are not meant to kill traditional finance or government-backed fiat currencies, but to provide more “freedom of money.”
“A cryptocurrency is simply a new tool that can increase the freedom of money around the world. I don’t believe cryptocurrencies are competing with regulators and we have a way to work together.”
Binance, the largest cryptocurrency exchange by volume, is regularly subject to heightened regulatory scrutiny. American writer, statistician, and former trader and risk manager Nassim Nicholas Taleb, author of the economic bestsellers Black Swan (2007) and Risking Our Own Skin. The hidden asymmetry of everyday life ”(2018), called Bitcoin a financial pyramid.