Binance’s CFO, Wei Zhou recently tore into Facebook’s plans to launch a blockchain, calling CEO Mark Zuckerburg a megalomaniac who’s only concern is building as much dominance over other crypto companies as it can so Zuckerburg can assert control, Yahoo Finance reports.
Many have been praising Facebook’s plans on launching its own blockchain and for saying it might launch its own cryptocurrency. They argue that having a massive multinational conglomerate like Facebook become involved with blockchain adds legitimacy to the industry.
Zhou, a former Harvard classmate of the Facebook leader, says Zuckerburg isn’t interested in promoting mainstream adoption of crypto or blockchain. Instead, he wants to make a closed, centralized crypto ecosystem that he will use to assert control over the rest of the industry.
“I suspect it’s going to be a closed Facebook ecosystem,” Zhou told Yahoo Finance. “Their goal is to wall off other people from coming into their system. Their goal is not to open up their system to other people.”
“The thesis behind [crypto] tokens in general, the blockchain in general — it’s an open system where anyone can use it if they spend the time to adopt the technology.”
