Enter the ring at 17, witness the growth of the industry, and wish Binance a happy 9th anniversary! Looking forward to the next glorious nine years! #BinanceTurns9
I learned from a friend that Lao Chen almost lost half his life. He is involved in agricultural machinery exports. A deposit of 50,000 US dollars sent to a turbulent area in Southeast Asia was stuck at the port due to the inability to verify the authenticity of a 'notarized embassy PDF scan' provided by the other party at a critical moment, resulting in astronomical demurrage fees every day. Lao Chen made countless calls there, but the other party shrugged: their office was just 'bombed' in the riot yesterday, and the archive turned to dust, leaving no one to prove that the official seal was real. At this moment when the physical defense line and paper credit instantly hit zero, I looked at the full chain proof logic of @SignOfficial on the computer and suddenly felt a chilling clarity on my back.
From a cross-border trade that was undercut, see how Midnight reshapes the privacy track
Has your friend ever suffered the same loss? A month ago, a friend of mine in foreign trade suffered a silent loss that still makes him shudder to this day. At that time, he was negotiating an order for precision instruments with a major client in Europe. To expedite the settlement, both parties agreed to use cryptocurrency for payment. It was thought to be an efficiency booster, but as soon as the deposit was made, the competitor actually followed his public on-chain address and completely uncovered where he had sourced goods from which factory over the past six months, at what price, and even how much profit margin he left for downstream agents. As expected, the bidding competitor directly took this data and precisely undercut at a price 2% lower. On the chain, you're either being watched with your wallet or you accidentally cross the line; there is simply no middle option.
From a failed business deal, see how Midnight ends the nightmare of on-chain transparency
To be honest, after mixing in the crypto circle for so many years, I always felt that 'privacy' was a false proposition, until last month’s business negotiation that still sends chills down my spine when I think about it. At that time, I represented the studio to discuss an outsourcing development agreement with an agency. The conversation was going smoothly, but just before signing the contract, the client's boss suddenly replied blandly, "I noticed the public wallet address that your studio commonly uses cashed out 200,000 U last week and entered the exchange. It seems that the cash flow is quite tight recently? Since you are so short on cash, should we lower our previous quote by another 20%?"