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Zhao Speaks About Potential Of Blockchain With Gaming

There is little doubt that blockchain will change the way that human beings interact with each other and the way that industries operate. However, many blockchain proponents are constantly wondering and debating about which industry will help the most regards with mass adoption. Well, it appears as though Changpeng Zhao, the CEO of Binance, has offered his opinion about a sector.

Although he didn’t necessarily state that the industry would be single-handedly responsible for mass adoption, Zhao did seem to indicate that the gaming industry could be instrumental with regards to blockchain. This is quite significant, considering that Zhao is easily one of the most influential figures in the sector.

About The Comments

One of the reasons that Zhao even brought up gaming is because there is a new popular game that is accepting Binance (BNB) tokens. That game is the collectible trading game Steem Monsters, which involves six kingdoms and has various RPG elements, and is based on the Steem blockchain.

Zhao took to Twitter to express his excitement about the announcement. He not only spoke about the opportunity that the gaming industry presented, but also indicated that its tokenization was inevitable. Specifically, he stated: “Gaming is a not-so-small industry yet to be tokenized.  Fast or slow, it will happen.” He went on to add that his company was ready to help. You can find the tweet below:

https://twitter.com/cz_binance/status/1090082827293450241

Obvious Opportunity

Zhao does seem to have a point. After all, there are over 2 billion video gamers in the world, which indicates that a significant amount of the global population is a gamer. In addition, blockchain can help with regards to creating a secure ecosystem for gamers to trade digital assets, for example.

In addition, the industry is growing significantly. In the United States, for example, year after year, the video game industry sets records with regards to sales. In 2018, there were over $43 billion in video game sales in America alone.

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Binance Launches Binance Jersey In European Expansion

When it comes to cryptocurrency exchanges that have been able to expand despite the bearish markets of 2018, many point to Binance as an example. The exchange, which is the world’s largest by daily volume, is continuing its expansion plans in the Europe launching a “fiat-to-crypto” trading platform entitled “Binance Jersey”.

The platform will not only allow for traders and investors to invest in Bitcoin (BTC) and Ethereum (ETH) using the euro, but will also allow them to invest using the British pound (GBP). This is interesting timing, considering that many UK politicians are uncertain about “Brexit” and the prime minister, Theresa May, is facing more resistance than ever.

About The Area

For those that are unaware, Jersey is an island in the English channel that is a British self-governing dependency, and is often utilized as an offshore tax haven. It also displayed a remarkable amount of foresight with regards to cryptocurrency markets, as it was the first jurisdiction in the world to greenlight a fully regulated Bitcoin fund five years ago.

It is clear that Binance is viewing the economic controversy around Brexit as an opportunity for more UK citizens to begin adopting and using cryptocurrency instead of the British pound or euro. The CFO (Chief Financial Officer) of Binance, Wei Zhao, also believes in the way that Jersey seems to embrace cryptocurrency, stating: “Jersey is an undisputed pioneer in blockchain development leveraged by this strong framework and talent pool.”

Uncertainty and Context

Zhao was not shy about the fact that there was an opportunity with cryptocurrency, considering that there is so much controversy about fiat currency in the area as of right now. He mentioned “economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern.”

Interestingly enough, Binance Jersey will operate independently of its parent company, Binance.com. Binance Jersey is working directly with the government to create jobs for locals, and partnered with its economic development agency back in June 2018.

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Binance Offers Competition/Prizes To Start Off 2019

Binance is starting the year off with a bang, offering a competition that is offering lucrative prizes to users. The competition was announced 7 hours ago (as of press time), on Binance’s official website.

The competition will end on January 15, 2018 at 0:00 UTC, for those interested. The winners will be announced and broadcast live on “multiple social media platforms”, although the date has not yet been announced.

About The Competition

The total prizes include 33,000 Binance tokens (BNB) and 10 iPhone XS Max’s (256 GB), and anyone worldwide can compete in the competition. Users will be ranked based on total BNB volume, and this includes trading volume across these pairs: BNB/BTC, BNB/ETC, BNB/USDT, and BNB/PAX. For those who are not aware, “trading volume” includes both buys and sells.

It’s important to note that Binance does include the caveat that it “reserves the right to disqualify trades that are deemed unfair or display attributes of market manipulation.” Also, participants “will not be eligible to win multiple prizes in a single competition.”

Prize Details

The total prize pool is 33,000 BNB, which will be split as follows: the first prize will receive 10,000 BNB, the second prize will receive 6,000 BNB, and the third prize will receive 2,000 BNB. In addition, the 4th to 10th place will split 8,000 evenly amongst the users, and the 11th to 20th places will split 7,000 evenly.

For those wondering about the value of the prizes, it comes out to over $200,000, as of press time. Specifically, the BNB token (as of press time) has a price of $6.10. This means that 33,000 BNB tokens have a value of $201,300, at that price. In addition, there will be a lucky draw for the 10 iPhones. For eligibility, all one has to do is have a total trading volume of 1,000 BNB during the competition period.