On October 24, Chanpeng Zhao, CEO of Binance, a cryptocurrency trading platform, talked about cryptocurrency, blockchain technology, and the impact of digital assets on social work.
According to the CEO, the financial system has completely destroyed people’s trust in the financial sector, and Blockchain, with its transparent technology, can change this scenario.
He added:
“The world of blockchain technology has many uses and needs to be remembered by everyone, and I think we can achieve 100 times better results with more transparency.”
CZ discussed the disadvantages of the movement of fiduciary funds. The CEO of Binance gave the following example: Almost 80% of the charitable business disappeared without a trace, which would not have happened if it had happened in a largely distributed accounting ledger.
He said the social impact would be significant and the world of charity’s work would greatly improve with digital resources.
Zhao was sincere enough to admit that the use of technology would nullify the lack of tangibility, success, and purpose. He said that the world of cryptocurrencies is important for investors to reach the respective recipients. He also said:
“Moving money to solve social problems is another way to increase acceptance.” The large number of people who donated BCF is also incredible, and I want to thank Justin Sun, who has donated $ 3 million for this reason. “
Blockchain’s charity initiative aims to use blockchain technology to make donations more effective. The BCF also worked with the United Nations Development Program (UNDP), which also claimed to have donated $ 1 million to the United Nations.