Changpeng Zhao, CEO and founder of the world’s largest cryptocurrency exchange Binance recently said on Twitter that it has come to his knowledge that crypto adoption is facing interruptions due to the word crypto itself since it suggests something “cryptic.”
He further elaborated that the word cryptic suggested something “mysterious” and “hard to understand.” Maybe it makes sense since the word has been typically used alongside something shady in the entertainment industry.
“Have had multiple people tell me the word “crypto” is not easy for mainstream adoption. It conveys a sense of cryptic, hard to understand, mysterious feel to it.”
CZ asked his followers what could be used instead of the word crypto. He also gave his suggestions.
“My choices: new money, hard money, real money, new technology for money, blockchain (industry), FinTech”
Recently, CZ said in an interview with Yahoo Finance that the crypto company is reviewing 50 to 100 proposals from cryptocurrency businesses. He seemed to be confident about the situation and its future turnaround.
He further claimed in the interview that Binance was working on assisting struggling cryptocurrencies by addressing their core issues. Zhao said that some deals with large companies were passed by the board.