While 2018 was a sluggish year for most cryptocurrencies and businesses associated with it, Binance clearly stood out and grew its business by making wiser decisions. The exchange wants to enter the new year with the same zeal and enthusiasm and hence has shared the outlook for 2019.
Binance sets out seven goals for 2019
Taking on Twitter on the Christmas eve, Binance’s CEO Changpeng “CZ” Zhao released the exchanges’ end-of-year letter where he shared his thoughts on 2018’s developments and what he foresees for the year 2019.
— Binance (@binance) December 25, 2018
The letter begins by mentioning
“2018 has been a hell of a year, definitely not the easiest of years, but looking back, real progress has been made”
The letter lays special emphasis on #BUIDL and says 2018 was a #BUIDL year for Binance. It goes on to mention the real achievements of Binance this year which included fiat-to-crypto exchanges in Uganda and Jersey, Security Token Exchange licenses in multiple locations, building of Binance Chain, with a native on-chain DEX, launch of multiple programs and verticals such as Binance Labs (incubator), Binance Academy (education portal), Binance Research (research reports and platform),Binance Philanthropy (charity), Merger of Trust Wallet and of course constant evolvements of security layers, while keeping customers funds #SAFU.
The letter further reflects on the year 2018 at the start where CZ admits that volatility ruled the day, as prices collapsed, ICO projects failed to deliver on expectations, regulators began to crackdown and multiple security incidents resulted in millions of dollars in losses.
To quote CZ from the letter where he added that the freedom of crypto was bound to come with a bit of chaos.
“We, as a young industry, were not very united. There were fights between projects, between people, and stupid forks that triggered further drops in price,”
Apart from this year in review CZ also gives 7 goals which the exchange would focus on in 2019. These include
- To add more functions to Binance.com;
- To launch the Mainnet of Binance Chain, featuring high-performance DEX to realize instant transaction (one-second confirmation);
- To set up ten fiat-to-crypto exchanges across the world;
- To build more partnership with players swimming in this sphere;
- To widen the adoption of BNB;
- To invest or buy more blockchain projects of more interest;
- To establish blockchain charity institutions marked by characteristics of authentic transparency.
Binance under CZ’s leadership is headed in the right direction and looks like it will have a fantastic 2019 with the targets it has in mind
Will Binance be able to replicate the success in 2019 that it had in 2018? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.