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“People need to educate themselves”: how Binance wants to popularize cryptocurrencies with the general public

With an environment conducive to innovation, Binance believes that France is the perfect playing field for blockchain.

It is difficult today to make the universe of cryptocurrencies, NFTs or the chain of blocks understand the entire population. A dark universe that repels some but according to David Brinçay, president of Binance France and Tech&Co guest for Paris Blockchain Week, France would be an ideal environment for the development of companies in the sector but also for the democratization of the sector.

And as far as individuals are concerned, David Brinçay focuses above all on education rather than on a simplification of the process: “What is lacking is education. People will have to educate themselves. France, we have a risk culture that is below the others, except in blockchain. In this country we are very curious and very innovative. People have to educate themselves to understand how it works, just like with traditional banking culture.”

A still early market

In a sector that may seem risky, especially with the recent bankruptcy of FTX, the president of Binance France indicates that bitcoin may be a good investment in the future. “It is a market with an early character. Finding leaders is very complicated, a leader today may not be one tomorrow”, admits David Brinçay.

The company wants to be more transparent. To do this, it recently launched its own Oracle VRF (Veritable Random Function), which allows the different assets of the block chain to be registered in order to have adequate information on supply and demand.

To praise the merits of its sector, Binance also claims that the blockchain sector now consumes less energy than traditional finance, with better energy efficiency on an equivalent scale.

Author: julie ragot
Source: BFM TV

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