As the cryptocurrency community grows, the issues within it become more complex. Regulatory, political, and social issues often stand in the way of cryptocurrency adoption, slowing progress within the space.
In response to these problems, the cryptocurrency exchange Binance formed a working group called the Global Advisory Board (GAB). The board is made up of people who are expected to address any issues that may arise as the exchange continues its initiatives to advance the adoption of cryptocurrencies, blockchain, and Web3.
The group will be led by a former United States Senator, Max Baucus. Among the members are several figures such as Ibukun Awosika, HyungRin Bang, Bruno Bezard, Leslie Maasdorp, Henrique de Campos Meirelles, Adalberto Palma, David Plouffe, Christin Schäfer, Lord Vaizey and David Wright.
In a press release, Binance CEO Changpeng Zhao said that since the exchange’s inception it faced problems that “no one knew existed.” Zhao believes that the formation of GAB is a step in advancing the company’s mission. He said that:
“We always put our users first, and that has served us as a very effective North Star over the past five years of unprecedented and exciting growth.”
For his part, Baucus expressed his enthusiasm for the potential of cryptocurrencies, blockchain and Web 3.0. According to Baucus, his goal is to solve complex problems and deliver socially positive results.
At the recent Australian Cryptocurrency Convention, Eowyn Chen, CEO of Trust Wallet, identified the barriers that stand in the way of further adoption of cryptocurrencies. According to Chen, they are ease of use, security, privacy and identity.
Meanwhile, Binance’s native blockchain, BNB Chain has recently launched a community-led initiative that focuses on protecting users from scams and exploits. Dubbed AvengerDAO, the security-focused decentralized autonomous organization (DAO) was created to add an extra layer of security to the network.
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