Binance, the world’s largest crypto exchange, announced the launch of a new advisory board, including distinguishing individuals across various global sectors.
The Global Advisory Board (GAB), chaired by former US senator and ambassador to China Max Baucus, recently convened in Paris, France.
The purpose of launching the GAB is to tackle the complex regulatory, compliance, political, and social issues that the crypto industry will experience as challenges in the future.
“With the speed and pace that Web3, cryptocurrencies, and blockchain technology are developing, it’s vital Binance draws on its knowledge, diverse experiences, and backgrounds to help us properly and successfully navigate such a dynamic industry,” Binance CEO explained in his speech, via a blog post.
Binance has successfully built a global presence and formed healthy alliances with leaders in countries from France to UAE.
As Binance founder and CEO Changpeng Zhao puts it-
“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users while keeping a brisk pace of socially-beneficial innovation.”
The company has indeed been a pioneer of Web3 empowerment and blockchain technologies, supporting founders and projects through various stages of development. With these startups, the vision for adopting Web3, blockchain, and crypto has spread its benefitting tentacles through industries and sectors.
However, there is still Work to be Done
The knowledge that regulations and licenses have halted the progress of crypto and blockchain technology in some economies is one of the issues that the board hopes to resolve.
The Global Advisory Board intends to successfully navigate these regulations- coming to compromises if need be, as the trajectory is more evident now than ever. More countries want to find a positive path, embracing cryptocurrency and blockchain as major economic forces.
The GAB Rooster
Eleven distinguished individuals from 11 countries make up the member list for the Global Advisory Board. The list includes;
- Max Bacus– USA
- Ibukun Awosika- Nigeria
- HyungRin Bang- Korea
- Bruno Bezard- France
- Leslie Maasdorp- South Africa
- Henrique de Campos Meirelles- Brazil
- Adalberto Palma- Mexico
- David Plouffe- USA
- Christin Schäfer- Germany
- Lord Vaizey- UK
- David Wright- Europe
“The transparency and accountability with which Binance seeks to deliver services to its clients are impressive. I am proud to play a role as a member of its Global advisory board and to be a part of truly transforming the web3 economy.” Ibukun Awosika commented.
What To Expect
With change on the horizon, Binance intends to step up its role as an industry leader, with delicate tuning areas of expertise and experience. As covering all areas requiring thoughtful and considerate decision-making cannot be left to one person, a strategic counsel of experts has been appointed.
The advisory board and the CEO of Binance pledged to lead the industry from the front and support regulators in establishing a global regulatory and compliance framework.
With the proper regulations, it is expected that technological innovations will rise. They will aid in preserving crypto’s fundamental value propositions emphasizing financial freedom and empowerment.
With these essential elements in tow, and guardrails introduced for consumer protection, Binance GAB intends to show the world the indisputable importance of the blockchain industry.