BAKU, Azerbaijan, September 10. Binance is on the lookout for ways to speed up the incubation of new ventures that will shape not only the future of the cryptocurrency industry but also the broader financial landscape, Binance’s Chief Marketing Officer Rachel Conlan said at the "Chain Reaction 2024" forum in Baku, Trend reports.
Conlan emphasized the importance of education in the digital asset and technology sectors at the "Chain Reaction 2024" forum during the panel titled "From Inception to Innovation: The Cryptocurrency Market Journey."
"We have discussed with the Ministry of Economy of Azerbaijan and concluded that in the world of digital assets, education plays a crucial role. It’s not just about drawing more people into the field but also about helping them understand how to enter the market safely and knowledgeably. Safety and awareness are key to successful activity in any financial market, and digital assets are no exception. Like any other financial product, trading in cryptocurrencies comes with risks and volatility," she stated.
Conlan noted that these topics have been the talk of the town in the industry lately.
"What we must focus on is building a long-term ecosystem while educating people to stay calm, conduct their own research, and understand their investments. This approach will help overcome challenges and unlock the true value of digital assets," she added.
Reflecting on her experience over the past two years, Conlan highlighted Binance’s commitment to leading the industry.
"Binance has added over 40 million users since January, indicating sector expansion. Our goal is to double this number by year's end. It took seven years to reach 200 million users, and we predict 100 million more in 2024. This shows industry longevity. Compliance and transparency are also priorities for Binance, with 220 marketing staff and 1,000 compliance staff working every day to establish a secure blockchain ecosystem.
It’s crucial for us to support the next generation of Web3 companies and invest in them through initiatives like BNB Chain and Binance Labs. We continue to explore ways to accelerate the incubation of new businesses that will define the future of both the crypto industry and finance as a whole," said Conlan, stressing Binance’s dedication to fostering innovation.
Conlan noted that Binance's worldwide user base surpassed 220 million. She noted that technology and institutional interest have made cryptocurrency mainstream.
"Recent key developments include the approval of cryptocurrency ETFs, which has opened the doors for significant financial flows from traditional institutions. Technological innovations such as Layer 2 solutions and cross-chain platforms like Polkadot and Cosmos are also major drivers," she noted.
Moreover, she stated that Apple, PayPal, and Goldman Sachs are incorporating cryptocurrencies into their business structures.
"Alongside market growth, we face significant challenges, including reputational risks and the need for clearer regulation," she added.