Blockchain Industry Profiles: Changpeng Zhao (CZ)
Although not American, Changpeng Zhao is living the “American Dream” by going from flipping Big Macs to creating the world’s biggest crypto-exchange.
Tucked away in an office somewhere is a very rich digital entrepreneur sat at a desk, working hard, and sporting a hoodie. You may be forgiven for thinking we are describing a certain social media startup guru – but we are actually talking about someone other than Mark Zuckerberg.
Today’s delve into the influential personalities of the blockchain industry brings us to the doorstep of Binance to meet the company’s founder and CEO, Changpeng Zhao. Don’t kick yourself if you’re not aware of Mr. Zhao already. If you blinked in the past 12 months you may have missed his speedy surge to cryptocurrency fame and fortune. In fact, this guy, who also goes by the nickname CZ, has gone from a net worth of zero to over 1.4 billion dollars in just one year.
CZ’s Early Life
Mr. Zhao was born in the coastal province of Jiangsu, which is slightly north of China’s financial hub, Shanghai. His mother and father were both educators. In his childhood towards the end of the 1980s, the family of three moved to Canada. Hard work was instilled in CZ at a young age. He was made to pitch in with household expenses and did so by flipping Big Macs and finding overnight work at a nearby fuel station.
His First Steps
The future cryptocurrency prophet went on to study computer science and land jobs in major cities. While working for the likes of the world’s Bloomberg’s as a trading software developer, he was promoted often and began leading teams in the financial hotspots around the globe. A desire for further success meant he decided to quit these roles and make a switch to Blockchain.info as head of development. Here, he worked in close contact with some established personalities in the bitcoin world, which would become significant in catapulting him towards Binance – his flagship creation.
Binance is a cryptocurrency exchange that has flourished in rapid time. The exchange was founded much earlier in 2005 but was then known as Fusion Systems. Once CZ turned his attention to focusing on what is now Binance – in conjunction with some fortunate timing – it has expanded to attract more than six million users and executes an estimated 1.4-million transactions each second. These facts and figures make CZ’s exchange the world’s largest. Since Binance’s July 2018 coin offering, the Binance token known as BNB has skyrocketed from just 10 cents to around $13.
Get More Insightful Blockchain Information
If you enjoy our series that pulls down the curtains on some of the blockchain’s biggest and most influential names, then check out more of our mini biographies and profiles. You can uncover the key traits of the most successful people in cryptocurrency – or you can just thank us at your next quiz night. Alternatively, check out the rest of our blog for other interesting and engaging blockchain posts.