Founder and CEO of crypto exchange Binance, says the Chinese President’s endorsement of blockchain will inevitably drive mass adoption of crypto.
During an interview with Bloomberg Markets: Asia on November 15th, Zhao gave his perspective on the likely global impact of the recent intervention by President Xi Jinping.
President Xi Jinping made a call for China to accelerate its adoption of blockchain technologies to drive innovation and industrial transformation.
On this endorsement of a pro-blockchain strategy by China, Zhao said:
“It’s super positive. China’s very pro-technology, so 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.”
On the competition that will follow later, CZ added: “I think we’re going to see a race there.”
The CEO argued that while the president may have confined his comments to the underlying technology”
“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.”