CZ Davos speech: 8 core viewpoints Just finished watching CZ's panel in Davos, with several century old bank CEOs on stage. Tonight, I distilled 8 core points, including my views on Meme Industry Status Chapter How big is Binance? CZ reports numbers in front of traditional finance: ·300 million users, more than any bank present here ·Trading volume exceeds that of the New York Stock Exchange and the Shanghai Stock Exchange The guest said, 'Binance is the world's largest cryptocurrency exchange.', CZ correction: 'It's by far the largest.'. '' Trend judgment section Currently, there are only two verified big businesses: exchanges and stablecoins. Everything else is still being tried. Three directions about to erupt: ① Tokenization. CZ is in talks with over a dozen governments regarding the tokenization of national assets. ② Payment. It's difficult to make payments directly with crypto, so instead of making the world accept crypto payments, it's about allowing crypto holders to spend their coins without feeling anything. It's infrastructure construction. ③ AI Agent. The native currency of AI agents is crypto. They don't know how to use credit cards. Meme is likely to cool down: Many crypto people will hate me because of this sentence. '' CZ said NFTs were once popular, but now they have cooled down, and memes are likely to be the same. Doge can survive because of 15 years of cultural accumulation, but most memes cannot survive until then. Bank vs Crypto Physical banks will shrink significantly. I'm not saying that banks will disappear, but the demand for people to go to physical banks will significantly decrease ING started online banking 25 years ago and now has eKYC, on chain transfers, and everything. It's the turn of crypto for the next 25 years. The essence of a bank run is a system design issue CZ mentioned that the bank does not have full reserves. Banks have partial reserves, and the money is already insufficient. Technology only exposes problems faster, not creates problems. Slowing down the speed won't solve the problem, it's just making more people unable to withdraw money Regulatory Chapter Global unified regulation is unrealistic, license mutual recognition will come first Binance has 22-23 licenses, but most countries do not have license legalization at all. CZ mentioned that he is currently serving as a consultant for several countries and spending a lot of time researching the optimal regulatory framework. His judgment: Crypto is the same in every country, theoretically there should be an optimal solution. But global unified regulation is too difficult, and the most likely first step is mutual recognition of licenses: one country obtains licenses, and multiple countries recognize them. @cz_binance @heyibinance @binancezh