How It Took Binance 12 Years To Become An Overnight Success
The story of Binance is that which sounds like a fairy tale to anyone who hears it , in a world where Tech companies go through a lot of birth pangs before standing strong, the speed at which Binance got weaned has given a lot of companies hope
Take the right steps and you will flourish
Overnight successes look attractive to us and always motivates us to do something meaningful with our Lives, but we always fail to evaluate the level of work the person who we admire put into becoming who they are
Whenever we hear names like Jeff Bezos or in this case Changpeng Zhao (CZ), we are only concerned about the Billions they wield without caring about their back story
CZ has a very intruiging history. He is a graduate of Computer Science from Montreal's McGill university. He first built a system that helped match trade orders for the Tokyo Stock exchange
He also developed software used for Futures trading for Bloomberg Tradebook. He quickly rose through the ranks due to his proficiency, getting three promotions in a space of two years and was sent to lead Teams across the world
He quit and moved to Shanghai in 2005 to start Fusion Systems which ended up building some of the fastest high-frequency trading system for brokers
After discovering Bitcoin in 2013, he worked for prominent Blockchain Companies like Blockchain.info where he worked in the wallet team and also at OKCoin where he briefly held the position of the CTO
As a testament to his faith in Bitcoin he sold all his valuable possessions including his house and went all in on Bitcoin in 2014. This action is one which very few people would have taken at that time
Starting from 2015 , CZ has taken actions and also produced things that singled him out as a person of excellence, he is someone who knows what's needed to be done and when the time for decision comes he does not waver
This was what enabled Binance to have a very successful ICO which made the prize of the BNB token to rocket from 10 cents to $13. CZ owns most of the tokens and has made a wise economic decision of using 20% of its profit every quarter to shrink the MarketCap of the token by 50%
I have always told people. Binance was not an overnight success, it just took off like a Rocket. And this was all because of the Man behind the Codes
The company was able to attain it's current heights because it had a CEO who had experience of what works in the Money Market and he was also fearless in executing what needed to be done
Binance first caught my eye when I was looking at their quarterly profits which toppled that of major international banks. Changpeng zhao came into the blockchain space, saw a problem and provided a solution . It's a clear case of when hardwork meets opportunity
This is the exact case of Binance. Hardwork met opportunity
@ogochukwu
Awesome piece
Thanks for stopping by Oga Bash @scozky
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great store, always more to it!
Wow CZ_BINANCE has really gonn through a lot. Selling all his property to join the moving train back then when bitcoin was considered to be nothing, something that one can hardly do even now that bitcoin is considered to be a widely accepted digital currency...that action alone shows that cryptocurrencies still have something special to offer to us in future....he even went to the extent of solving some of the problems faced back then like inefficiency in exchange platforms by introducing a more reliable exchange platform, binance. With this alone I'm convinced that cryptocurrency is the future of tomorrow. Thanks to @ogochukwu for this wonderful article.
What differentiates a man who is doing well in his business from his colleagues is ingenuity and willingness to take decision that will further propel his goals to a promising state.
Everything in life is a risk, the mere fact we are using technological tools like phones, laptop and other gadgets is a risk. The ability to take reasonable and well calculated risk in business is pivotal. Men who are afraid to take risk never really succeed in business.
Risk takers are the pillars of successful enterprises and they are not afraid of tackling a challenge. Men who are willing to give all and dedicate their all are men of vision and foresight.
This really caught my attention. I am not so surprised why his project was a success, he believed in his goal and pursued it with all that he got not minding the risk. Life will never always give us good things without expecting us to work towards it, most times if that thing is a promising one, definitely it won't release it to us so easily. We just have to reach out and grab it through hardwork.
Despite been promoted thrice in two years, he didn't loose focus and I am sure these promotions will come with great benefits yet he didn't let the fat salary obscure his vision. He had a clear insight of whathe wants and where he was going. These are the kind of men that matters.
Change is constant and a man that refuses to accept change is obviously calling for stagnation. One of the things I have learnt from this successful men is that, they are always improvising and moving forward and they are also constantly improving on their techniques. Markzukerberg the founder of facebook is a typical example, his touch on whatsapp changed the whole aspect of chatting. His introduction of whatsapp status revitalized whatsapp at the point when it was becoming boring. Today whatsapping is now fun.
Yeah sure, every success story has a rough beginning but it is just unfortunate that most people don't always love the beginning, rather they prefer to exploit from the already made.
One thing is certain in life
We must have vision and goal and setting plans to achieving all our goals should be our utmost priority if we want to excel like CZ and many other great men.
This is very inspiring!
As always @ogochukwu, you always deliver through your awesome post and unique style of writing.
Humbly @cyprianj ✌
CZ is obviously a die hard investor as well as an excellence driven man who knows his onions. I want to be like this! Thanks for the info-share @ogochuckwu, I doubt I'll have found this information without you writing about it
Have always wanted to start my own company, but the thought of lossing at the far end held me back, now that i know that sometimes it takes you to put all in to succeed
Now i have the courage to take my dreams and give it my best shot just as CZ did years ago
Thanks for this great encouragement @ogochukwu
Nothing good comes easy
another amazing post @ogochukwu
moving to malta was a great idea
Hi again @ogochukwu
Let me suggest something that may help your readers a lot. You should justify your posts.
The difference will be huge. Just like on picture below:
You can find it explained quite well here:
https://steemit.com/html/@dyrits/steem-it-1-how-to-justify-your-text
Till the next time :)
Yours, Piotr