Binance Sets 7 Big Goals for 2019
2018 is a dismal year for the cryptocurrency industry as nearly every major cryptocurrency falls at least 90 percent from its all-time high. But Binance, the world’s largest crypto exchange by the trade volume, has managed to stand out by pushing through a massive expansion internally and internationally over the past 12 months.
On December 25th, Changpeng Zhao or CZ, CEO and co-founder of Binance, released an end-of-year letter on the company blog, rounding up the year gone, laying out the exchange’s 2019 priorities and expressing a positive outlook for cryptocurrency in the coming year.
The letter begins by CZ’s reflection on several factors contributing to the prolonged bearish market in 2018. Firstly, price overswung on the upside in 2017 was bound to correct itself sooner or later. Secondly, some ICO projects from 2017 failed to deliver in 2018. What’s more, regulatory uncertainty around the world and deep disunity amongst blockchain players are blamed for the price downturn in the crypto market.
In the midst of the chaos, Binance has reached some impressive achievements in 2018 although it is only 18 months old. According to CZ, 2018 was a #BUIDL year for the trading platform. This year saw Binance to set up fiat-to-crypto exchanges in Uganda and Jersey and to obtain Security Token Exchange licenses in multiple locations. The leading crypto exchange launched a number of business units including Binance Labs (investment fund), Binance Academy (a free education portal ), Binance Research ( the research arm), ,Binance Philanthropy (charity) to support the future game changers of the industry and to use the blockchain technology for social good.
Besides, Binance has been ramping up efforts to develop its own chain dubbed “Binance Chain” which features 1-second block times and 1 confirmation finality and the decentralized exchange(DEX). The exchange also created a safety fund (SAFU) to insure users against accidental losses.
In addition to the thoughts on this year’s developments, CZ outlines Binance’s 7 goals for the year ahead. Binance will add more features on its website, the mainnet of Binance Chain will go live several months later. It will launch up to 10 fiat exchanges around the world, establish more partnerships with industry leaders, increase use cases and adoption of BNB, invest in or acquire more interesting projects, and create true transparent charities.
He is quite optimistic about the future of the industry and Binance, saying that “But looking forward, I know this much: blockchain will stay, crypto will stay, Binance will stay. And our industry will grow stronger than ever!” And he hopes 2019 will be a year of growth.