Bhas also worked to help cryptocurrency adoption, as about 50 partners adopted the As the years draws to an end, cryptocurrency exchange Binance looks back at the world of digital assets and its achievements through 2018 in a year-end review.
The review was posted in the form of a letter by CEO Changpeng Zhao where he discusses crypto prices and multiple initiatives from the company, including Binance Academy and Binance Research.
2018 – ‘A Hell of a Year’
CZ called 2018 a “hell of a year” saying it had not been the easiest, but real progress was made.
Regarding the price declines seen he listed multiple factors that could have been a cause including that prices overswung in 2017, ICOs not delivering, and even “stupid forks.”
CZ focused a lot on Binance’s #BUIDL policy in the review.
Regarding this, he mentioned Binance’s new fiat-to-crypto exchanges in Jersey and Uganda and its Security Token Exchange licenses obtained in multiple locations which he says will be put to good use in 2019.
CZ also stated that “Binance has been building the Binance Chain, with a native on-chain DEX.” This is expected to be available in a public test net in January 2019.
Another crucial step for Binance was Binance Labs, the exchange’s investment fund which has already invested in 23 projects.
Binance Academy was launched which provides free educational materials on the blockchain and crypto industry as well as Binance Research, which provides free institutional grade research to the public.
Binance also launched Binance Charity, the exchange’s philanthropy program, which has collaborated with the United Nations and other organizations to utilize blockchain for good.
To protect users against accidental losses, Binance created the #SAFU Fund to ensure the safety of their crypto holdings.
Binance has also pledged a $10 million standing bounty against hackers who attempt to hack them.
Binance has also worked to help drive adoption of its Binance Coin, as about 50 partners have now adopted the Binance Coin in their respective ecosystems.
Looking Forward to 2019
Regarding the upcoming start of a new year, 2019, CZ noted:
“I am not very skilled with the crystal ball. But looking forward, I know this much: blockchain will stay, crypto will stay, and Binance will stay. And our industry will grow stronger than ever!”
In the coming year, Binance says you will see:
– More features on Binance.com.
– Binance Chain mainnet live, with a native high-performance DEX, as well as 1-second transaction confirmation time, enabling true instant transactions.
– Up to 10 fiat exchanges around the world.
– More partnerships with industry leaders.
– More use cases and adoption of BNB.
– More interesting projects invested in or acquired by Binance.
– True transparent charities.
We will continue to build and increase adoption, and lead the industry forward.
In closing comments, CZ thanked everyone on the Binance team and all of the users.
He also mentioned that Binance is organizing their first #SAFU hackathon and Conference in Singapore. The event will be held between January 19 and 22 next year.