@Richard Teng , CEO of Binance exchange, revealed more about the exchange’s ‘hardcore’ business model, and more on cryptocurrency employment factors in an interview with fast company today.
Teng, explains the perks of remote work in terms of productivity and innovativeness.
As the globe gets closer to monetary independence, so does Binance that will focus on ownership and accountability skills.
In a recent article published by Fast Company, Turkey’s Richard Teng was also mentioned alongside his company Binance, and the article spotlighted the company’s working model which facilitates creativity and productivity in high output measures.
Teng posted on his X account before that, ‘Binance is now the most outstanding leader of the world’s largest remote-first recruiting.‘
Thanks to its,’user free’ approach, the crypto exchange can lead users to a new way enterprise that evolves user needs in a fast pace, always changing industry.
What the Future of Work Looks Like for Binance
As reported by the Fast Company, the world is and has been gradually moving into a digitally integrated world where every work will be done through two split screens, and companies are running against this new normal.
The article focused on a recent study which indicated that four out of five companies are looking to enforce policies allowing employees to return to work by 2025, suggesting an overhaul on how these companies look at office attendance.
Amazon, Microsoft and a few other companies sparked violent arguments on social media across the globe after they forced their employees to come back to the office after working remotely, which left a lot of people infuriated.
Business journal suggests that Binance, a crypto exchange, has always embraced the fact that it was a remote first company and decided to remain fully embrace that model for the remote future.
The visionary of the business highlighted the benefits of how working remotely allows people to be more productive and creative whilst also gaining financial sovereignty over their lives.
In addition to discussing Binance's flat hierarchy in comparison to other companies' multi-tiered structures, Teng also spoke about the importance of telecommuting or hybrid work arrangements.
What does Being Hardcore mean?
Teng put forward the idea that when there are greater freedoms achieved through the flat structure, there is a stronger guiding principle that the crypto exchange sets: being hardcore.
Binance believes that an honest feedback culture is essential in growing the company’s talent density and instilling inside employees the strong sense of responsibility and accountability needed to succeed in the current leadership role during the transformation phase – all of which extends beyond traditional work places, as previously indicated.
As a part of promoting an innovative and forward thinking problem-solving environment, Binance promotes a strong sense of accountability and ownership in its employees which coupled with a lot of other factors, helps in continuously working towards financial freedom.
“The Emphasis of Complete Individuals Over Better Employees”
Additionally, Teng mentioned some of the advantages of being a fully remote company.
He pointed out that due to the volatility of the financial markets, the workers in that industry do not have a straightforward task and may be obliged to solve it on the go.
One of the most important goals for Binance is nurturing professionals who understand the concept of “being whole people rather than just better workers”.
By focusing on the customer experience and developing rigorous legal frameworks, Binance hopes to get a market advantage.
Finally, when it comes to the workplace of the future, Binance is focused on its employees and their needs.