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- Binance posted its 2020 New Year’s message titled “Building Foundations” on 2nd January 2020.
- Security breaches in 2019 have only led Binance to revamp their security practices, and it continues to invest in protecting users.
- Binance charity has helped more than 100,000 people to alleviate poverty and gain access to education.
The global cryptocurrency platform, Binance, posted its 2020 New Year’s message titled “Building Foundations” on 2nd January 2020. The word outlines Binance’s core values and its initiatives over the years that have shaped the platform’s fortunes.
It begins by calling 2019 the foundation to a tall building and states that its core values and motto to spread freedom of money has been its guiding light through tough times and challenges.
Talking about its most important value of user-first, Binance stated that features and products like Margin Trading, Staking, and Futures have all come in to process user requests. It added that there are plans to announce 24/7 support in the coming year and stated instances to show that it always works to deliver the best.
Security breaches in 2019 have only led Binance to revamp their security practices, and it continues to invest in protecting users. In commitment to its fundamental belief that fundraising on the Blockchain is one of the best ways to use the network, Launchpad launched to help people raise money and awareness through an IEO trend.
Binance continued its support for innovation through Binance Labs, a multi-day hackathon, and various conferences. It promises to continue investing in growing the blockchain space. The letter also gave clarifications regarding Binance DEX, the on-chain trading engine, which evoked controversy and confusion regarding its name and the use of the word DEX or decentralized.
Agreeing that Defi was the trend in 2019, the platform spoke about its work towards Cefi (Centralized Finance) and its plans to expand the Binance Margin Trading and Binance lending services. Binance Staking was yet another initiative to help users get what they deserve of their deposits, the blog said. Binance Futures launched to help users trade with lower capital requirements and avoid paying interest on margins.
Speaking of its belief that fait will co-exist with crypto in the long run, Binance announced its idea to support 180 more fiat currencies in 2020 and facilitate crypto to fiat transactions. It also spoke of selecting the best talents through 9 full acquisitions in 2019 with more to come this year. To increase access to Defi and make crypto more accessible, Binance launched Trust Wallet.
Travel By Bit is an innovation to help users live and travel with crypto-only, thus making freedom of money more realistic. Understanding the significance of research and analysis, the Binance research has launched more than 70 reports since last November dealing with market trends and the blockchain space.
Working towards crypto literacy is a Binance academy that produces easy and accessible content on essential topics. Binance charity has helped more than 100,000 people to alleviate poverty and gain access to education. Binance has achieved a net profit of USD 1 billion since its founding about three years ago.
It has also reached new heights with BNB in 2019, with more than 180 projects supporting the BNB in their ecosystem. Talking about its plans for the new decade, the platform said it aimed to bring crypto to the masses through fiat to crypto trading. Decentralization is yet another issue it works with and wants to work with central banks and governments to help them adopt crypto.
To end the letter, Binance stated that by 2030 they believe crypto will be everywhere. From paying for cabs to funding biotech research, Blockchain will be the thing of the upcoming decade and the one after it.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
