“We believe that the more we invest in the industry, the bigger the industry gets.” - cz_binance
As many of you know, we recently announced that He Yi would take on a role as head of Binance Labs, Binance's venture capital and incubation arm. After running our marketing and customer service departments, both massive undertakings, Yi’s move to Binance Labs will build on her previous work. We're incredibly fortunate to have Yi with us. She's an inspiration to us all and one of the most hard-working, intelligent, and strategic leaders we have.
We can help design token economics, allowing founders to build for the long term and protect users. We have dozens of tried-and-tested tips and recommendations that can help kickstart a new project, including unlocking schedule, transparency, use of incentives, etc. If projects follow these best practices, they are more likely to build trust with users quickly. If they don’t, we don't invest.
Furthermore, we now invest not only in blockchain businesses but in traditional ones too. That's why we’re involved in the Forbes deal. Our main thought process here? Giving traditional industries new crypto business models will help the blockchain industry expand. One common mistake in crypto is forgoing the usable product step and paying people to use your product instead. This ineffective approach is usually realized through token incentives. People come in, use the platform for a little while, and then stop.
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