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A Look into the Past, Present, and Future of Binance

2022-07-09

Main takeaways

  • Binance’s fifth anniversary is the perfect time to reflect on our past, present, and future.

  • Over the upcoming weeks, you can participate in a range of exciting activities to earn prizes.

As part of our birthday celebrations, take a dive into Binance’s history and join us as we share our vision for the future. No celebration would be complete without you, our community – a pillar of the Binance ecosystem! Starting with creating your own song, cake, or celebratory hat, there are numerous ways to join the fun – and win some crypto, too.

The past five years have gone by so quickly! From humble beginnings, Binance has risen to be a world leader in the blockchain space. As we continue our work toward building a Web3 world, what better time than now to reflect on our journey, the growth of our nascent industry and what the future holds for us all. 

Looking Back at Binance’s Past

There have been some truly pivotal moments in the past five years that have shaped Binance’s story. Let’s briefly look at four significant developments and how they set Binance up for the success we all enjoy today.

July 2017: Changpeng Zhao leaves his former job to found Binance

With CZ’s first introduction to crypto at his famous poker game in 2013, the stage had been set for the founding of Binance. Driven by his keen interest in Bitcoin, background in trading systems, and some old-school entrepreneurial spirit, CZ founded Binance in July 2017 along with He Yi. Shortly thereafter, BNB saw its initial distribution on Ethereum as an ERC-20 token.

September 2019: Paxos launches Binance USD (BUSD) in a partnership with Binance

The importance of fiat-backed stablecoins has become increasingly evident over the past five years. That’s why we’ve chosen the issuance of BUSD as a pivotal moment in Binance history. By partnering with Paxos, Binance was able to help create one of the industry’s most trusted and reputable stablecoins pegged to the US dollar. Since 2019, it’s become one of the largest stablecoins available by market capitalization and liquidity.

September 2020: Binance launches BNB Smart Chain as an affordable EVM-compatible blockchain

For too long, the blockchain space had been plagued with long transaction times and high fees. Binance felt the need to address this problem head-on and provide an affordable infrastructure that would be both highly usable and flexible. Now, BNB Smart Chain has a healthy ecosystem that continues to expand as many developers and project teams build on the foundations laid initially by the BNB Smart Chain team.

Experiencing Binance Today

Today’s Binance can track its roots back to 2017, but its branches have extended far beyond the functionality of merely a crypto exchange platform. A combination of additional products, services, and partnerships, buttressed by rigorous compliance features, has created the sprawling ecosystem we all know. This year alone has seen spectacular regulatory progress as Binance secured registrations and approvals in France, Italy, Dubai, Bahrain, and Abu Dhabi. 

Partnerships with Splyt, Travala, WazirX, Bifinity, and Swipe were instrumental in increasing user utility of the Binance ecosystem. We have also led the charge in bringing the blockchain and other Web3 technologies to new global audiences through partnerships with the likes of Cristiano Ronaldo, The Weeknd, Khaby Lame, Alpine F1, and other icons of sports and culture. These collaborations help demonstrate to our community and the world the opportunities that Web3 can offer beyond just trading.

As an organization, Binance currently operates in over a hundred countries with thousands of employees scattered across all time zones. And, of course, it maintains its position at the top of crypto exchange rankings by daily traded volume.

Looking Towards Binance’s Future

Our fundamental goals are aligned with those of the entire crypto industry: increasing digital asset adoption and improving people’s lives. But how we get there and the specific targets we set is what marks our unique approach. There are a few specific causes that are key to Binance’s future that we want to champion going forward: 

  1. We want to bring our users partners with value. With Web3 on the horizon, it’s essential to look at projects that can help implement crypto into our daily lives in a helpful way.

  2. We focus on continuously educating our users to help them make informed decisions. From Binance Academy’s online resources to in-person events, a lot is planned to extend our educational role and support more people in their journey to better understand the world of digital assets.

  3. We want to explore the Web3 world with our community. There’s no doubt that Web3 will revolutionize the internet, opening up new opportunities that haven’t existed before. That’s why we’ll be paying close attention to what we can do to support our community in making the most of the immense potential of Web3. 

Celebrating Our Achievements with the Binancian Community

For two weeks, we’ll be celebrating our fifth anniversary in style with a range of online activities. As #BinanceTurns5, we’ll distribute prizes, awards, and other giveaways users who complete our challenges. These include creating a #BinanceSong to win $2,000 in BNB, baking a birthday cake, and even designing your own hat to celebrate five years of our shared success. 

It’s not a bad idea to involve the themes of our past, present, and future when you submit your creations and entries.

So for any Binancian wanting to get involved, all it takes to jump in is checking out our 5YA Activities Page. It wouldn’t really be a birthday celebration without presents, so why not take part and win yourself a few?