Source: Cointelegraph
Original: “Token 2049: CZ Discusses the Future of Crypto, Exploring the Infinite Potential of Education, AI, and Global Collaboration”
In an interview at Token2049, Binance founder Changpeng Zhao (CZ) shared his insights on the cryptocurrency industry. From advancing educational projects to the application of AI technology and collaboration with governments around the world, CZ believes that the combination of blockchain and AI will drive innovation, and the potential of the crypto market is yet to be explored.
CZ at the Token2049 conference. Photo: Eva Xiang
When discussing his crypto education project, Giggle Academy, CZ described it as a fun initiative, although he does not spend much time on it. He mentioned, “It’s a very interesting project, and I call them once a week to discuss AI-related matters.”
Currently, the project has launched 60 courses and 300 storybooks, supporting 15 languages. CZ is optimistic about the future, hoping to provide free education to 100 million or even a billion children under the age of 18 in the coming years. He believes that modern technology, especially the application of AI, can deliver educational content more efficiently.
CZ elaborated on the key role of AI in the project. He pointed out, “Right now, we create storybooks in one language, and AI can translate them into all languages.” AI not only assists in translation but also plays a significant role in image generation. He stated, “Just a few months ago, generating consistent characters and images was still challenging, but now the technology has improved significantly.” The advancements in AI have made content production faster and more efficient, greatly reducing labor costs.
CZ mentioned that he is currently communicating with senior leaders from about 12 countries regarding the government application of blockchain technology and has seen significant changes in the past six months, especially with the U.S. elections.
“Now, the new U.S. government is very supportive of Elon Musk’s idea of using blockchain to improve government efficiency. We are seeing this in many other places as well, including Abu Dhabi and Dubai in the UAE, where they are exploring how to use blockchain for government projects.”
These projects include decentralized IDs, land ownership, opening bank accounts, e-visas, border crossings, and educational diplomas.
CZ noted that many regulators still wish to oversee everything locally, including custodial wallet solutions, order books, and teams. However, this approach is often not the best choice, as establishing secure custodial solutions for billions of dollars requires substantial funding and expertise, which is currently lacking.
CZ also shared his experience in the UAE, where he first visited four years ago, in September 2021, and met with the AI minister. CZ believes the UAE is a very supportive country for cryptocurrency and business, stating, “They are extremely supportive of business, and the ministers are very knowledgeable, smart, and insightful.” At his suggestion, the UAE established new regulatory bodies and quickly formulated relevant laws. CZ praised the business environment in the UAE, considering it a very suitable place for development.
CZ mentioned some countries, such as Bhutan, that have already included Bitcoin in their national reserves and are exploring the possibility of adding more cryptocurrencies to their reserves. He said, “I believe the King of Bhutan is in this city today; he is an early adopter of cryptocurrency, and they have excess clean energy, hydropower, and have been mining for years, with billions of Bitcoins.”
CZ revealed that he is consulting for several countries outside of Europe, guiding them on how to establish cryptocurrency reserves like the U.S. “As the U.S. holds Bitcoin, other countries may be forced to follow suit, as the later they join, the higher the cost of acquiring cryptocurrency will be.” When asked about Europe’s position in the cryptocurrency strategy, CZ stated, “Europe is almost nonexistent in this discussion.”
CZ added that the only exception is Montenegro, which is quite supportive of cryptocurrency, and he has had positive discussions with the Prime Minister of Montenegro. However, apart from Montenegro, CZ does not see other European countries participating in this field.
CZ shared his views and expectations for the crypto market. He pointed out that while the crypto industry sees frequent capital flows, many investors focus only on short-term gains.
“I want to help founders build their projects. I am a builder myself, and I want to see products that many people use. […] That’s why I spend most of my time today on YZi Labs and with founders.”
CZ believes the key to success lies in providing people with practical use cases rather than just chasing short-term profits. “Frankly, I think the [industry] is still in a very early stage. Cryptocurrency has not yet transcended trading. This also represents an opportunity.”
When discussing the application layer, CZ noted that there are many potential use cases worth focusing on and developing, such as social media, beyond the financial sector.
CZ at the Token2049 conference. Photo: Eva Xiang
CZ believes that AI will fundamentally change user experience, and the combination of AI and blockchain will bring more innovation. He mentioned, “AI has many use cases, especially in user experience, which will fundamentally change how we interact with blockchain.” He believes that the integration of AI and blockchain will drive further technological development, making life more convenient and efficient.
CZ also pointed out that AI requires a large amount of data for training, which can be captured through blockchain in a privacy-preserving manner. AI agents need to pay for computing and electricity costs, and the fastest payment method is cryptocurrency. “In the future, data storage and access will become smarter and more decentralized, and we should be able to monetize data through blockchain technology.”
CZ advised newcomers to stick to the fundamentals and not to follow trends blindly. He emphasized, “Understanding the fundamentals of a project and trusting your judgment is key to success.” He also added, “Don’t blindly invest just because you see others tweeting.” He encouraged newcomers to focus on long-term goals and to remain rational and patient.
On-site report: Eva Xiang Translation: Broom Zhou
Related: Token 2049: Arthur Hayes Reiterates Prediction that Bitcoin (BTC) Will Reach $1 Million by 2028
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