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Binance CEO Compares Bitcoin and Central Bank Tokens



According to the CEO of the crypto exchange Binance Changpeng Zhao, digital currencies of central banks (CBDC) are inferior to bitcoin and ether in many ways. The head of the largest crypto platform expressed his point of view in an interview with Bloomberg. BTC and ETH in the first phase of the existence of digital currencies such as the People’s Bank of China token will be able to coexist perfectly. However, CBDC is not able to meet all the needs of people and businesses. Specifically, bitcoin has a limited supply. Accordingly, as the date of the mining of the last coin approaches, the value of such an asset will add. BTC, unlike CBDC, is not subject to inflation. In addition, Changpeng Zhao stressed, Bitcoin and other decentralized coins can be used to send funds anywhere in the world. Central banks, when launching their token, expect to establish control over the crypto market, which causes discontent among both blockchain companies and retail holders of digital currencies. They are unlikely to agree to use CBDC, knowing that all their transactions are controlled, said the CEO of Binance. Changpeng Zhao recently admitted that almost all of his savings are accumulated in cryptocurrency. He has no fiat money, and the head of the trading floor does not intend to change his strategy.

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