Binance Boss Changpeng Zhao: Nothing Can Stop Bitcoin

Bos Binance, Changpeng Zhao (Binance)

JAKARTA - Changpeng Zhao "CZ" as the owner of the world's largest cryptocurrency trading, Binance, revealed that currently, nothing can turn off Bitcoin crypto money. Likewise with the underlying blockchain technology.

The statement was expressed by CZ in a virtual conference held by CoinDesk. CZ also added that governments and financial regulators inevitably have to accept the emergence of crypto money and blockchain technology.

"I don't think anyone can turn it off now, given that this technology, this concept, is in the heads of 500 million people", Zhao said as quoted by CoinDesk, Friday, May 28.

"You can't delete it", Zhao added.

Zhao likens the resistance to Bitcoin and other cryptocurrencies as well. According to him, this is like the rejection of Amazon's internet business that occurred in the 1990s.

He emphasized that crypto here is not intended to kill traditional money or fiat money which is supported by the government, but to present “freedom money”.

“(Cryptocurrency) is just a new tool that can increase the freedom of money around the world. I don't see them (crypto) rivaling the (financial) regulators ... and there are ways for us to work together”, explained the boss of the Binance crypto exchange.

The statement is in response to the strict scrutiny of US financial regulators of the cryptocurrency exchange platform Binance. A number of financial regulators in other countries also question Binance's business for not having its headquarters in a particular country.

CZ stated that Binance has no intention of going against any government or country that has doubts about how Binance operates.

"We are not against the government. Sometimes the regulators or regulations are not very clear. They are still being built in most parts of the world so there are some gray areas. But (we) were just experimenting and working together to find out".