Binance CEO Changpeng Zhao, during an interview with Laura Shin at the ConsenSys Summit, stated that Binance does not have a headquarters and wondered if Bitcoin does. CZ: “Well, I think this is the beauty of the Blockchain, right, so you don’t have to know?like where the Bitcoin office is, because Bitcoin doesn’t have an office.
To kick off the ConsenSys Summit on Thursday, Laura Shin, host of the Unchained Podcast, held an interview with Binance CEO Changpeng Zhao, who was wearing a custom football shirt branded by the exchange.
Many report that Zhao spent most of the Summit explaining how the pound and the digital yuan are unlikely to be competitors of existing stablecoin suppliers.
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Interview with Changpeng Zhao
Zhao explained a lot about the stablecoins and the competition from the divine ones. He also explained how Binance’s smart chain would not step on Ethereum’s toes: “That depends on the definition of competition,” he said. And how Binance had an incentive to keep its newly acquired CoinMarketCap independent of the exchange.
Throughout the talk, Zhao seemed confident and calm. However, Shin asked a question that the CEO did not want to answer: where is Binance’s headquarters?
Although it seems to be a simple question, it can actually be very complex. Until February, Binance was considered to be based in Malta. That changed when the European island nation announced that Bitcoin Circuit, Bitcoin Revolution, Immediate Edge, Bitcoin Code, The News Spy, Bitcoin Era, Bitcoin Trader, Bitcoin Profit, Bitcoin Billionaire, Bitcoin Evolution is not under its jurisdiction. Since then, Binance has not said exactly where it is based.
Therefore, during the talk Zhao was asked, and he stammered after the question. He looked off-camera and said, “Well, I think this is the beauty of the Blockchain, right, so you don’t have to know… like where the Bitcoin office is, because Bitcoin doesn’t have an office.
The CEO also continued with his story about Binance: it has many offices, with staffs in 50 countries. It’s a new kind of organization that doesn’t need bank accounts and registered postal addresses. “Wherever I sit, it’s going to be the Binance office. Wherever I need someone, it’s going to be the Binance office,” he said.
This alludes to the fact that the Binance headquarters may not exist as it does with Bitcoin, so Binance doesn’t have a headquarters because Bitcoin doesn’t have one?
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Where’s Binance’s office?
During the interview, Zhao may have been waiting for the host to move on to something easier. But Shin wasn’t finished:
“But even to do things like handle, you know, taxes for your employees, like, I think you need a registered business entity, so why are you hiding, why not be open about it like, you know, the headquarters is registered at this place, why not say that?”
To which Zhao replies that:
“It’s not that we don’t want to admit it, it’s not that we want to hide it. We’re not hiding, we’re out in the open.
“What are you saying is some kind of DAO? I mean, what are you saying? Because it’s not something old to have a headquarters, it’s actually something current… I don’t really know what you claim to be.”
In this sense, Zhao said that Binance is not a traditional company, but a great team of people working together for a common goal. He added, “To be honest, if we are classified as a DAO, then there is going to be a lot of debate about why we are not a DAO. So I don’t want to go there either.
“Then no one would call you a DAO,” said Shin, disappointed that this wasn’t the interview where Zhao made his big breakthrough. At the end of the talk, Shin asked where Zhao was working from during the Coronavirus pandemic, to which Zhao simply replied that he is in Asia now.
Shin insisted on which country he was in, since Asia is a very large continent. However, Zhao’s response was “I prefer not to reveal that. I think it’s my own privacy,” ending the interview.
The interview gave as justification that the executive director of Binance does not want to reveal the