Bitcoin and other cryptocurrencies have become highly trending topics in recent years. In February, Forbes Magazine released its first "Cryptocurrency Richest" list, featuring Changpeng Zhao (CZ), founder and CEO of Binance, as the only Chinese entrepreneur in the top 10. Ranked third, his estimated net worth ranged between $1.1 to $2 billion.
With a technical leadership background at Bloomberg, Blockchain.info, and OKCoin, Zhao launched Binance after departing from OKCoin. The exchange rapidly grew to become the world's largest by focusing on crypto-to-crypto trading and an international strategy.
Taiwan’s Blockchain Potential in the Global Landscape
Speaking at the "2018 Asia Blockchain Summit" organized by Legislator Jason Hsu, Zhao emphasized Taiwan’s untapped potential. While slower to adopt cryptocurrency initially, Taiwan possesses strong hardware capabilities that position it favorably to emerge as Asia’s blockchain hub.
Zhao noted that while most nations began discussing cryptocurrencies in early 2018, Taiwan initially perceived them as high-risk, delaying local blockchain industry discussions. However, he highlighted Taiwan’s progressive regulatory environment, praising the Financial Supervisory Commission’s open approach for fostering collaboration.
Taiwan’s Competitive Advantages
- Advanced mining hardware
- Leading smartphone brands and manufacturers
- Potential for hardware-integrated solutions (e.g., mobile wallets)
"Leveraging these strengths could carve a unique niche for Taiwan in blockchain innovation," Zhao added.
FAQ: Taiwan’s Blockchain Future
Q: Why does Taiwan have potential in blockchain despite a late start?
A: Its robust hardware ecosystem and proactive regulators provide a foundation to accelerate growth.
Q: How can Taiwan compete with established hubs like Singapore?
A: By specializing in hardware-driven blockchain applications and fostering public-private partnerships.
Q: What role do regulators play?
A: Supportive policies, like those from Taiwan’s FSC, attract global projects and talent.