Binance CEO Changpeng Zhao called 2018 a ‘correction year’ and remained optimistic for the future of crypto markets.
In a Bloomberg interview, Zhao expressed his optimism for the crypto industry’s future in the interview where he elaborated on the bear market which resulted in a market crash in November this year.
When asked about how the price correction affected Binance’s plans, Zhao said that Binance launched one fiat exchange, plans to launch two or three “in the next month or so,” and ten more fiat exchanges next year. He added:
“None of our plans changed, we are still pushing forward very aggressively.”
With regards to increased government involvement as well as regulations in the crypto industry, CZ is of the view that currently, many countries are facing uncertainty. He mentioned that the cryptocurrency industry needs clarity on regulatory frameworks.
Zhao stated that the crypto industry is in the need of regulations that foster innovation rather than hamper its growth. He concluded the interview on a positive note saying that he is optimistic about the industry’s future.
Binance Labs, the firm’s innovation arm, has been rapidly expanding and creating new avenues for the future of blockchain and cryptocurrency.
Binance has been particularly interested in Africa and the Middle-East, noting that these regions could prosper with the implementation of blockchain technology.