Binance CEO: China is Setting the Precedent as a Blockchain Superhouse

Since President Xi Jinping’s endorsementfor blockchain development acceleration in China, this nation has heeded to these calls and is continuously making incredible moves in this arena. 

Changpeng Zhao, commonly known as CZ, the CEO, and founder of crypto exchange Binance, stipulated that the Chinese President’s calls will do wonders as they will instigate mass blockchain adoption. 

During an interviewwith Bloomberg Markets held on Nov. 15, he delved into the issue of how President Xi’s intervention could impact the blockchain space globally.  

CZ noted: “It’s super positive. China’s very pro-technology so that China will invest very heavily in blockchain technology and on the educational front as well. Given that China has now made that move, every other country in the world will have no choice but to follow or move faster. But it’s going to be pretty hard to move faster than China to be honest.”

CZ acknowledged that China was aiming at setting a precedent in the nascent blockchain technology as other nations could follow suit based on its exceptional interest in this area. He also added that blockchain and cryptocurrencies go hand in hand.

CZ stipulated: “You can’t learn just about blockchain without learning about cryptocurrencies. So I think we’ll see a lot more people who understand Bitcoin, Ether and other cryptocurrencies. So we’ll see very strong adoption there.”

CZ believes that China is making a colossal sprint on blockchain, leaving other nations in its wake. 

Image via CNN