According to the CEO of the world's largest cryptocurrency exchange, it is no longer possible to destroy bitcoin and its underlying blockchain technology, so governments and regulators must accept them.

“I don’t think anyone can shut down the bitcoin project, given that this technology is in the heads of 500 million people,” said Changpeng Zhao.

Fighting Bitcoin and other cryptocurrencies now would be like refusing to accept Amazon's business model when the e-commerce giant was just getting started in the early 1990s, he said. Cryptocurrencies are not meant to eliminate traditional finance or government-backed fiat currencies, but to provide more freedom for money.

Zhao noted that he does not intend to fight with any governments or countries, and doubts about Binance's work are more related to a lack of regulatory clarity:

    “We are not going against governments. Now is the time that the rules are not very clear. They are still being created in most states, so there are some gray areas. We just need to work together and clear things up. "

It seems that Zhao does not have a clear strategy for his company, although Binance is actively involved in almost all trendy crypto innovations (DeFi, NFT and tokenized real assets):

    “I am not discerning enough to predict the future and which direction will be popular. Binance is organized so we do a lot of experimentation. "

Zhao said he tries to make fewer top-down decisions, especially when it comes to so-called “big” projects like Binance Smart Chain (BSC):

    “Binance Smart Chain came out of nowhere. This was not my idea. BSC is an independent blockchain and we do not control it. The projects work there independently "

According to him, he and the company have benefited from the success of BSC because the Binance coin (BNB) has increased significantly in value, and Zhao and Binance remain large holders of BNB. Unlike Ethereum, BSC operates on the basis of a Proof-Of-Staked-Authority (PoSA) consensus mechanism, which is controlled by 21 node operators elected by BNB holders. Some analysts speculate that the BSC validators may be linked to Binance in some way.