‘Binance Cloud’ May Be Unveiled in 10 Days, Says Binance CEO CZ in Recent AMA

On Feb 8, 2020 at 10:41 am UTC by Teuta Franjkovic · 3 min read
Photo: Shutterstock
Photo: Shutterstock

Within 10 days, Binance will announce a new product dubbed ‘Binance Cloud’. There was also a job announcement on Binance called for a Senior Cloud Engineer, indicating that the company is looking into the cloud and perhaps even a decentralized one.

In a revealing ‘Ask Me Anything’ (AMA) the CEO of Binance Changpeng Zhao hinted at a new line for the major cryptocurrency exchange under his guidance. Even though Zhao did not reveal much, he did say that in the next 10 days, they will be ready to introduce a new product – the keyword dubbed ‘Binance Cloud’.

In addition, Zhao announced the launch of peer trading on Binance for pairs with the Russian ruble. It is important to stress that the mentioned event was held without any additional announcements from the exchange, and Zhao noted that the option was added “a couple of days ago”.

Binance Now Available in Vietnam and China, New Markets on the Way

Earlier, peer-to-peer trading was available for RMB and Vietnamese Dong. Currently peer-to-peer trading with the ruble is available through the Binance client for Android devices, but not for iPhone. Some users have already begun to lay out their proposals for the purchase and sale of cryptocurrency for rubles, but so far there are not too many of them.

Zhao said:

“The cryptocurrency remains on Binance.com in our escrow wallet and is blocked for the duration of the transaction. You can pay by cash, bank transfer or any other method that you prefer to use in your country. After the seller confirms the receipt of money, Binance will transfer. We are the central escrow agent for this transaction, but the fiat remains in the P2P transaction. Binance does not touch fiat currency in this situation. Binance does not charge a fee for these transactions, because we want to attract more users to them. ”

Both users participating in a P2P transaction must be authenticated on the exchange. This is done to reduce the risks of fraud. Zhao invited P2P merchants who have stable access to fiat channels in their countries for cooperation.

Searching for Senior Cloud Engineer

Also, there was a job posting on Binance site calling for a Senior Cloud Engineer, hinting that the company is looking into the cloud, possibly even a decentralized cloud.

This was further backed up by the CEO who soon after the AMA concluded tweeted a picture of clouds.

The thing is, Binance has long been one of the leading guides in the cryptocurrency space, especially regarding other exchanges.

For example, they are trying to keep adding different fiat entrances. In December last year, they’ve announced one in Latin America. That one also allowed Argentinian and Brazilians to buy crypto with their native currencies.

‘Increasing the Freedom of Money’

Also, Binance is trying to grow and decentralize even further, and is trying to make it so without Zhao sitting at the head of the table all the time. They seem to be acuminating in on some major hires, as Zhao hints at possible multinational high tech transportation hiring that coul happen soon. The truth is, Binance is still on a mission to “increase the freedom of money” and all the moves and progress are ultimately focusing on this through cryptocurrency. Zhao added that, with the market recovering, they plan to do even more listings.

In short, Binance Futures is evolving. 17 pairs have already been listed, including BNB that, at the time of writing was among rare coins that were growing. It went up by 1.05% selling for $22.01.

Altcoins, Binance, Blockchain, Cloud Computing, Cryptocurrency news
Teuta Franjkovic
Author: Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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