Binance CEO Changpeng Zhao spoke on Wednesday at the annual meeting of the World Economic Forum, cryptocurrency He said those in the industry should focus on the fundamentals of crypto technology rather than being distracted by the money in the industry.
Binance CEO Changpeng Zhao (CZ) spoke virtually with Medha Parlikar of Casper Labs for the Blockchain Center in Davos 2023.
Binance CEO CZ: “Focus on Fundamentals, Not Money”
“Once the waves come in, all the hype goes away and it’s the basics that matter,” Zhao said in a remote video talk. In our industry, we’re so close to money… a lot of people get distracted and that’s all they focus on.” said.
The chat focused on various topics such as the current state of cryptocurrencies and how to build it, as well as asking some personal questions to learn more about Parlikar CZ.
Parlikar started off with a joke about CZ’s hair, but soon returned to more serious matters. With the backdrop of the bear market and the shocking realities of various major industry crashes in 2022, CZ reminded viewers to get back to basics, put FUD aside, and get back to basics to be safe and reliable.
In his statement to the crowd, CZ said:
“There are three parts to building trust. We are in an industry where we can use technology that does not require trust. We can be more transparent, proof of reserve, Merkle trees, and third, building trust over time. If we can consistently demonstrate that we are reliable, we can gain the trust of our users over time.”
*Not investment advice.
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