For everyday use, CZ thinks crypto wallets need to take place of exchanges
Former Binance CEO CZ believes that daily transactions and exchanges should benefit professional traders and liquidity providers, while crypto wallets should be utilized for regular uses.
Former Binance CEO CZ believes everyday blockchain transactions and trades for knowledgeable traders should take place via crypto wallets. Based on his conversation with Trust Wallet CEO Eowyn Chen, wallets are transcending mere storage.
Leaving Binance, CZ oversees the Giggle Academy and YZI Labs. According to him, crypto exchanges should be liquidity pools for big players rather than venues for regular users. "Most people shouldn't have to use an exchange," CZ remarked, suggesting Trust Wallet for daily crypto transactions.
His views mirror the expansion of the business. Originally just storage options, crypto wallets now provide digital identities, financial transactions, and DeFi. Users may handle money, send remittances, and utilize distributed apps without exchanges.
Eowyn Chen claims that Trust Wallet has expanded quickly to serve millions of customers all over. She remarked, "We have almost 200 million downloads, which is 77% of finance registration users." From regular customers to speculative traders, the website is providing distributed money solutions.
CZ said wallets could support government operations and digital IDs. Several nations are investigating blockchain-based identity solutions; wallets might be the primary portal for safe credentials. Governments thinking about blockchain require distributed ID. CZ stated the wallet is the fundamental architecture of the internet—its browser.
Chen underlined that while privacy and market regulating discussions go on, separating wallets from exchanges helps platforms serve different users. Emphasizing financial instruments and identity management will help wallets develop into public services and education.
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