If it wasn’t enough for Binance to be the biggest crypto exchange[1] by trading volume in the world, such is its popularity[2] that it will now launch its own blockchain. Dubbed the ‘Binance Chain’ (give that genius a can of coke), the new blockchain is due to arrive in the “coming months” according to a Tweet today.
The Binance Blockchain
The Tweet gave a little more detail. It said the following:
“Binance is pushing for blockchain adoption and doing many things to help advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can easily issue tokens.”
So the company is looking to advance the entire crypto industry and, let’s be honest, it’s in a pretty good position to do so. With a current daily trading volume of $645 million USD, Binance’s reach is second to none.
The Binance blockchain is hoping to provide a basis for new cryptocurrencies and ICOs.
Global Scale
As with nearly everything crypto, the idea is for global adoption, and Binance’s incentive on this project is no different. Global adoption[3] means an actual change in the way the world perceives finance and does business.
Speaking[4] at the ‘Decrypting Blockchain for Business’ event in Singapore, Binance CEO Changpeng Zhao (CZ) said that the new Binance blockchain will revisit an old vision of crypto in order to increase adoption to a global level.
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CZ said further that Binance will be “pushing really hard into that space (payment adoption),” considering the average person is still not using crypto to pay
