{"id":505974,"date":"2022-11-03T07:56:33","date_gmt":"2022-11-03T04:56:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cbdcs-are-no-threat-to-crypto-says-binance-boss\/"},"modified":"2022-11-03T07:56:33","modified_gmt":"2022-11-03T04:56:33","slug":"cbdcs-are-no-threat-to-crypto-says-binance-boss","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cbdcs-are-no-threat-to-crypto-says-binance-boss\/","title":{"rendered":"# CBDCs are no threat to crypto, says Binance boss"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35d8c2d9666\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35d8c2d9666\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cbdcs-are-no-threat-to-crypto-says-binance-boss\/#%E2%80%9D_CBDCs_are_no_threat_to_crypto_says_Binance_boss_%E2%80%9C\" >&#8221; CBDCs are no threat to crypto, says Binance boss &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_CBDCs_are_no_threat_to_crypto_says_Binance_boss_%E2%80%9C\"><\/span>&#8221; CBDCs are no threat to crypto, says Binance boss &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzllYWFkNzAtMjdiOS00NThiLWEyYTAtNjUzMDVlYmJlNWRhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Binance CEO Changpeng &#8220;CZ&#8221; Zhao <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have softened his stance on central bank digital currencies (CBDCs), arguing in a conference that he doesn\u2019t think CBDCs are a threat to his company or the crypto sector.\u00a0<\/p>\n<p>CZ spoke at the Web Summit in Lisbon on Nov. 2 about CBDCs and their role in the crypto industry.<\/p>\n<p>The Binance boss said that CBDCs would validate blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and build trust among those with concerns about the technology, commenting: \u201cI very much think that the more we have, the better.\u201d<\/p>\n<p>He also added that governments adopting blockchain would be seen as a good thing, however, he noted blockchain does not equal crypto which he termed as \u201cdeflationary,\u201d according to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/binance-ceo-sees-no-threat-crypto-central-banks-digital-currencies-2022-11-02\/\"> Reuters<\/a>. <\/p>\n<p>CZ\u2019s comments appears to have softened compared to his previous stance on CBDCs. <\/p>\n<p>Last year, he said that they would never offer the same freedom as cryptocurrencies such as Bitcoin and Ethereum. \u201cMost central bank digital currencies are going to have a lot of control attached to them,\u201d he stated at the time.<\/p>\n<p>Central banks around the world are racing to research, pilot, and deploy their CBDCs, with China seen by some as leading the race. <\/p>\n<p>There are however continued concerns that a programmable digital currency gives central banks unprecedented control over what groups of citizens can use it and what they can spend it on.<\/p>\n<p> Cointelegraph has previously noted\u00a0that citizens who want less government involvement in their financial lives might see problems with CBDCs.<\/p>\n<p>Last month, political commentator Peter Imanuelsen<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterSweden7\/status\/1586746745811308545\"> highlighted<\/a> his concerns over the level of control governments would have over people\u2019s finances, labeling it as \u201cglobal communism.\u201d <\/p>\n<p>A digital-ID-linked CBDC could be used to crack down on dissidents or control carbon-friendly spending, he speculated.<\/p>\n<p>Turkey is one country planning a digital ID-linked CBDC launch in 2023, according to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nfcw.com\/2022\/10\/28\/380006\/turkey-to-integrate-digital-currency-with-national-digital-identity-system\/\"> reports<\/a>.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>India\u2019s central bank outlines digital rupee CBDC plans<\/em><\/strong><\/p>\n<p>According to the<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.atlanticcouncil.org\/cbdctracker\/\"> Atlantic Council<\/a>, 15 countries are currently piloting a CBDC including China, Kazakhstan, Thailand, Saudi Arabia, Sweden, South Africa, and Russia. <\/p>\n<p>Other countries that have actually deployed a CBDC include Nigeria, Jamaica, The Bahamas, and eight Caribbean island nations. <\/p>\n<p>The U.S. lags behind the rest of the world as it is still in the discussions phase, while reactions to a digital dollar have been largely divided\u00a0among Americans.<\/p>\n<p>In October, the International Monetary Fund (IMF)<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EconWithNick\/status\/1581332286338842624\"> touted<\/a> programmability as a CBDC feature that could lead to \u201cfinancial inclusion,\u201d however some belie reality could well be the opposite.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/cz-on-central-bank-digital-currencies-the-more-we-have-the-better\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; CBDCs are no threat to crypto, says Binance boss &#8220; Binance CEO Changpeng &#8220;CZ&#8221; Zhao appears to have softened his stance on central bank digital currencies (CBDCs), arguing in a conference that he doesn\u2019t think CBDCs are a threat to his company or the crypto sector.\u00a0 CZ spoke at the Web Summit in Lisbon&#8230;<\/p>\n","protected":false},"author":1,"featured_media":505975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzllYWFkNzAtMjdiOS00NThiLWEyYTAtNjUzMDVlYmJlNWRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75046,74355],"class_list":["post-505974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cbdc","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/505974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=505974"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/505974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/505975"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=505974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=505974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=505974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}