Former Binance CEO Changpeng Zhao, known as CZ, believes that crypto wallets should be the primary interface for everyday blockchain usage, while exchanges should mainly serve professional traders and liquidity providers. CZ expressed this view in a discussion with Trust Wallet CEO Eowyn Chen. He emphasized that exchanges like Binance should only be used for trading, while wallets like Trust Wallet should be used to store cryptoassets. This shift in the industry reflects the broader role that wallets now play in asset management, digital identity, and payment functions. CZ also mentioned that wallets could become a gateway to digital identification and government services, extending their reach beyond finance. Separating wallet functions from exchange functions can benefit the ecosystem by capturing different user profiles and allowing wallet platforms to serve a wider audience with everyday financial needs. Integration of digital certificates and identity systems with wallets could improve everyday crypto usage and promote increased adoption of blockchain technology.



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