Binance NFT chief talks about platform implementation model and Paris blockchain regulation

Cointelegraph Editor-in-Chief Alex Cohen attended and covered the two-day Paris Blockchain Week Summit (PBWS), sitting down with Helen Hai, head of Binance’s NFT platform, for a candid discussion about early inspiration for his platform. fungible tokens (NFTs) and their vision for regulatory communication, among other topics.

Citing the ways in which Asian economies harnessed the growth potential in the second industrial revolution, boosting lower-middle-class jobs, Hai said the internet age – often referred to as Web2 – was a factor driving economic expansion. as well as numerical differences between different social groups.

In the interview, Hai talks about how this imbalance can be re-established through the use of Web3 technology, revealing insights from the early stages of the Binance NFT market, the importance of building reciprocal relationships with regulators in policy making, and highlighting concerns about Web3 Information on women’s leadership in the ecosystem.

.@ i will joining @helenhaiyu and Athena @TheBinanceNFT Talk about NFTs, cryptocurrencies and how they will shape the future of the music industry at Paris Blockchain Week!

watch # Binance Live now ⬇️

— Binance (@binance) April 12, 2022

Binance launched its non-fungible token marketplace last June to capitalize on the global craze surrounding digital collectibles, with 2.5 million NFTs and more than 1,000 creators registered by the turn of 2022.

Hai revealed that the platform was initially inspired by the potential for an artistic renaissance powered by blockchain technology, and spoke proudly of its optimistic values ​​in creative creation and deployment of learning styles.

“For us, it’s basically 2% strategy and 98% implementation.” Calls founder and CEO Changpeng Zhao (CZ) “really empowering leaders like me. If I have a great idea , he said, Helen, why don’t you try to prove yourself?

“Six months later, we’ve amassed millions of users and innovated the Mystery Box and Initial Game (IGO) modes for the gaming industry. We’re still in the learning phase, but we’re working with users every day on how we can help creators Connect with them more.”

Aside from potential barriers to education and government propaganda, Hai shared her expectations for the prospect of a constructive and open dialogue with regulators in the cryptocurrency and NFT space, saying she was “very positive,” but currently “regulation is a Something very one-way” should evolve into a “two-way communication” system.

“We need to get people in the crypto industry to find a good way to communicate to regulators what we’re doing and what we need to improve, and regulators should also know what’s going on, what’s really delivering value and how they Rules can be used to protect users.”

Hai was excited by the conversation with senior banking officials in Dubai, who sympathized with her concerns about the tight financial constraints of banking transactions relative to the cryptocurrency industry. She mentioned that the growing trend in employment for cryptocurrencies in traditional financial and government institutions helps bridge the understanding gap and foster greater innovation.

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