Even though Binance is still a relatively new player in the cryptocurrency market, it feels like an old vet. It feels like an exchange that helped transform the way we use cryptocurrency. Well, that’s because it has. As innovative and groundbreaking as this exchange was for the community, the crypto future is constantly evolving. Is there a place for this aging technology or is it time for a change?
BINANCE ON IT’S HEALS; TRIES TO MAKE NEW CRYPTO FUTURE
Innovations come and go quickly in the crypto market. At one point, Binance was on the top of the world but in a short period of time, a number of promising startups looked to dethrone the exchange powerhouse. With powerful, decentralized exchanges like Kelvin becoming the new normal, Binance looks to pivot and draw from a new well of creativity. As a result, they are teaming up with NEO for a $12 million venture capital investment.
BINANCE TRIES TO CHANGE CRYPTO FUTURE WITH MONEY
On June 5th, Binance Labs announced a new $1 billion blockchain investment fund. This blockchain technology incubator hopes to provide funds for pre-ICO projects and teams using their own ERC20 token BNB. Does this mean they are trading in their exchange ways for venture capital? It certainly seems that way.
BINANCE PAVES THE WAY FOR CRYPTO FUTURE
In a way, this is a fantastic move for Binance. They are not trying to keep with thew new, trendy innovation. Instead, they are stepping aside and offering their assistance to these young budding projects. Binance is not the future but they built the foundation for startups like Kelvin and Nauticus. Hopefully, this will allow great projects to truly shine in the crypto future and not just follow the same trajectory as the traditinoal, banking system. For there, competition and power reign supreme. But as we see, that is not a sustainable model for revolutionary innovation.