Advertisementspot_img
Wednesday, December 7, 2022

Delivering Stories of Progress

Advertisementspot_img

Binance’s CEO CZ underscores the importance of user protection in web3 during B20 Summit in Bali

Latest article

Advertisement - PS02barkero developers premium website

THEPHILBIZNEWS Partner Hotels

Okada Manila
Hotel Okura Manila
The Manor at Camp John Hay
Discovery Suites
Novotel Manila
Hotel 101 Manila
Advertisement - PS02barkero developers premium website

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, makes a presence at the Business 20 (B20) Summit in Bali, Indonesia with the exchange’s CEO Changpeng “CZ” Zhao as one of the invited speakers.

The B20 Summit Indonesia 2022 is part of the G20 Summit, where leaders from all over the world come together to share their expertise on international business challenges and future growth initiatives. The theme of the B20 is “Advancing Innovative, Inclusive, and Collaborative Growth,” which supports the G20 theme “Recover Together, Recover Stronger.

CZ was among a select group of global leaders who discussed the future of web3 technology and the importance of building the global tech landscape and talent field. In his talk,which  is part of the plenary session, “Harnessing the power of innovation for future economic growth.” CZ states that  “everybody in the industry has the responsibility to protect users”. Binance, the cryptocurrency exchange founded and led by CZ, employs stringent measures regarding user protection with one of the prime examples being the SAFU or Secure Asset Fund for Users initiative. Additional measures also include a comprehensive KYC or Know Your Customer process as well as their ongoing cooperation and collaboration with international law enforcement and anti-crime organizations to detect cybercrime and protect Binance users.

Together with CZ, the B20 Summit is also attended by representatives from the G20 countries and other leaders from the business community. These leaders include Jeff Bezos (Executive Chair, Bezos Earth Fund; Executive Chairman, Amazon), Mark Tucker (Group Chairman, HSBC Holdings), Euisun Chung (Executive Chair, Hyundai Motor Group), Febriany Eddy (CEO, Vale Indonesia), and Mohammed Y. Al Qahtani (Senior Vice President, Saudi Aramco).

Putting emphasis on working together with the rest of the business and global community CZ adds “We hope industry players can cooperate to gather opinions and set strong standards. Given the recent series of events in this year, Binance sees the importance of developing common guidelines”. CZ further adds that Binance will “try to get together with other industry players to form common business standards” citing that “all industry players need to increase transparency and work closely with regulators to make the industry more robust.”

As B20 is the official dialogue forum for the business community to communicate and share their aspirations with the G20 governments, more than 60 business leaders including Jeff Bezos (Executive Chair, Bezos Earth Fund; Executive Chairman, Amazon), Mark Tucker (Group Chairman, HSBC Holdings), Euisun Chung (Executive Chair, Hyundai Motor Group), Febriany Eddy (CEO, Vale Indonesia), and Mohammed Y. Al Qahtani (Senior Vice President, Saudi Aramco) attended.

Advertisement - PS04spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisement - PS05spot_img
Advertisement - PS01spot_img

Must read

Advertisement - PS03spot_img