CZ Fireside Chat Recap at Token2049 (Singapore, 2023)

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About Binance :

- Binance reaches 150 million users from all over the world- Weekly Active users Binance reaches 500,000 users

About Crypto Adoption:

- Smaller countries are more advanced & easier to adapt to in the development of the crypto industry. For example UAE, Bahrain

- Crypto does not need 100% adoption. Internet adoption alone is only 60% globally

- Crypto adoption is currently only 5% globally. We're still early, but not super early.

About NFTs:

- NFTs aren't supposed to be JPEGs but they're expensive.

- The NFT trading platform does not require high throughput & low latency

- In the future there will be new use cases for NFTs, for example state IDs, event tickets, etc

About The Next Crypto Use-cases:

- CZ is excited about the on-chain social media platform. Apps like Twitter can be brought on-chain.

- Current blockchain technology still cannot handle the volume of interactions like on Twitter. L2 is a solution for on-chain social media

About Challenges in Web3 Industry:

- The main problem in crypto to bring in 100 million new users at the moment is fiat on ramp.