Binance to launch its own blockchain soon

Lizzy Murray

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Binance CEO, Changpeng Zhao recently revealed that the cryptocurrency exchange will launch its own public blockchain in “a couple of months or so”.

Zhao made the announcement during the Forbes Asia Forum: Decrypting Blockchain and it seems like the company’s public blockchain is called Binancechain.

Forbes reporter Michael del Castillo was present at the even covering Changpeng Zhao’s speech. He quoted the CEO saying:

“We are launching Binancechain very soon, in a couple of months or so, and you will be able to issue tokens on that… I think there will be millions of coins and thousands of blockchains.”

Zhao’s announcement caused a mass reaction and many users are wondering why so many cryptocurrencies and blockchain would be needed. Considering the CEO’s earlier statements it remains to be seen how Binance will  approve and manage those “millions of coins”. Back in August, Zhao declared:

“We don’t list shitcoins even if they pay 400 or 4,000 BTC. [Ethereum, NEO, Ripple, EOS, Monero and Litecoin and more] listed with no fee. Question is not ‘how much does Binance charge to list?’ but ‘is my coin good enough?’ It’s not the fee, it’s your project! Focus on your own project!”

Furthermore, Changpeng Zhao refrained himself from offering any predictions regarding Bitcoin’s price because he thinks his words will be taken as manipulation. He said:

“I try not to predict the future bitcoin price because anything I say will be seen as manipulation. So I lost that part of free speech.”

Binance to launch its own blockchain

He also revealed that he got a tattoo of the Binance logo to show his commitment. His decision is detailed in this Medium post, where he also explained how Binance vets coins to be listed on the exchange. It turns out one of the most important things the company pays attention to is the founders’ dedication.