Since its launch, Binance [BNB] token has been enjoying a good run as it has climbed up in the list of crypto assets in CoinMarketCap. It has recently entered into the top 10. The CEO of Binance token, Changpeng Zhao has quite often expressed his thoughts on the success and future of the token and the crypto asset world.
Changpeng Zhao, in a Venture Coinist interview which is on Youtube, said that the killer app of the crypto asset is already here. Recently after the success of the BitTorrent Token [BTT] launch of Tron, Changpeng Zhao said that ICO’s will be returning and will be a strong and innovative new way for firms to raise wealth.
Changpeng Zhao said,
“ICO’s got a little bit of a bad name because of its total freedom that is assigned. So there’s quite a lot of chaos as a result. You could write a five-page white paper and raise $10 million. And of course, the founders want to do nothing other than writing the next white paper. So it was getting too hot and with the bear market in 2018. A lot of people lost money and it gave a bad name to ICOs.”
Changpeng Zhao also said,
“If we look past this, raising money on the blockchain, blockchain fundraising, is a killer app which has many advantages and impactions to entrepreneurs.”
To make this happen, Changpeng Zhao declared that there will be a need for good projects and quality entrepreneurs to make sure that the token economics makes sense.
Changpeng Zhao added,
“So we need to make sure they don’t raise too much, keep the initial prices lower because the project is not out yet. So there’s a strong structure to raising properly, and that’s what we want Launchpad to do.”
According to Changpeng Zhao, entrepreneurs are wanting to design and further build the crypto industry and this could be largely impactful for the crypto asset industry. Changpeng Zhao has confirmed that the crypto industry, as well as other platforms, will be using this application.
Changpeng Zhao concluded by saying,
“The projects we support go through very detailed due diligence, and we want to make sure those are all legit proper projects. Not every project will be successful in the end because there are many other factors that can cause startups to fail.”