{"id":24971,"date":"2023-11-13T16:40:49","date_gmt":"2023-11-13T16:40:49","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/no-cz-no-problem-binance-blockchain-week-showcases-turkish-crypto-industry\/"},"modified":"2023-11-13T16:40:51","modified_gmt":"2023-11-13T16:40:51","slug":"no-cz-no-problem-binance-blockchain-week-showcases-turkish-crypto-industry","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/no-cz-no-problem-binance-blockchain-week-showcases-turkish-crypto-industry\/","title":{"rendered":"No CZ, no problem: Binance Blockchain Week showcases Turkish crypto industry"},"content":{"rendered":"
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Binance Blockchain Week Istanbul 2023 saw global crypto exchange Binance bringing its flagship event to Turkey on Nov. 8\u20139, where business is conducted in the Turkish lira \u2014 a top trading pair on its platform.\u00a0<\/p>\n

While Binance CEO Changpeng \u201cCZ\u201d Zhao was absent from the event, the Binance c-suite, along with key executives from a full roster of event sponsors, was more than enough to turn Binance Blockchain Week into one of the most packed Web3 events Istanbul has ever seen.<\/p>\n

As a city bridging Europe to Asia, Istanbul is no stranger to international crypto and blockchain summits. While most events pick the heart of the city for easy access and nearby hotels, Binance picked a venue on the coastline of the Bosphorus \u2014 away from the subway and many other transportation methods \u2014 to show its visitors Istanbul\u2019s true beauty.<\/p>\n

The event occurred on the European side of Istanbul, but visitors could step outside the terrace and enjoy the view of the Asian part, the Bosphorus and the bridge connecting the two continents. Source: Cointelegraph<\/figcaption><\/figure>\n

It\u2019s usually not a problem to visit the main event area without a registration or to get a last-minute ticket at the entrance \u2014 at least for most events in Turkey. But, for Binance Blockchain Week, the security was tight and tickets were sold out. Binance\u2019s event team designed a two-floor layout for over 2,000 attendees from all around the world.<\/p>\n

Visitors were welcomed by a spacious hall that led to the upper floor, where the main stage and booths were installed. The entry floor offered various activities, including a small hair salon where visitors opted in to get the Binance logo sprayed on their hair, two old-school arcade machines and the startup-focused Innovation Stage. <\/p>\n

There\u2019s no better way to show Binance affection than spraying its logo on one\u2019s hair. Source: Cointelegraph<\/figcaption><\/figure>\n

The importance of the Istanbul event was evident from Binance\u2019s perspective, as the crypto platform kept the big announcement of its Web3 wallet \u2014 not to be confused with the Binance-owned Trust Wallet \u2014 for this event.\u00a0<\/p>\n

Binance\u2019s head of regional markets, Richard Teng, kicked off the event by introducing the Binance Web3 Wallet to 150 million Binance users.<\/p>\n

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Starting on a high note, Binance Blockchain Week Istanbul provided keynotes and panels from prominent names of blockchain, crypto, Web3, gaming and entertainment gathered in Istanbul for two days. There were panels to attend or networking opportunities for people from all backgrounds and experience levels. <\/p>\n

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The big moment <\/p>\n

Watch when @_RichardTeng<\/a> first announced the new #Binance<\/a> Web3 Wallet at #BinanceBlockchainWeek<\/a>!<\/p>\n

https:\/\/t.co\/tP0nOtLANQ pic.twitter.com\/xEQh6YpBS5<\/a><\/p>\n

\u2014 Binance (@binance) November 11, 2023<\/a><\/p><\/blockquote>\n

Binance chief marketing officer Rachel Conlan told Cointelegraph that the exchange considered several cities before picking Istanbul as the destination for this year\u2019s Binance Blockchain Week.\u00a0<\/p>\n

\u201cThe city has an incredibly vibrant crypto community, and the strong support we\u2019ve continually received from this local community played a decisive role in our decision.\u201d<\/p><\/blockquote>\n

Referencing surveys that placed Turkey among the countries with the highest crypto adoption, Conlan noted that this engagement and adoption \u201creaffirms our long-term commitment to investing in and nurturing the blockchain ecosystem in Turkey, making Istanbul a natural choice for our flagship event.\u201d<\/p>\n

The flagship event was missing Binance\u2019s CEO, who is known to adopt a decentralized culture within Binance and even suggested that he might be willing to step down as CEO.<\/p>\n

\u201cEffective decentralization means not only the distribution of authority and responsibility but also visibility,\u201d Conlan said. <\/p>\n

Binance wants to constantly engage users and ensure consistent presence across multiple forums and regions, and having an experienced team to independently represent the company is crucial to that goal, she added.<\/p>\n

Binance and the larger Web3 ecosystem <\/h3>\n

Even though it was a Binance event, the conference included several other firms and platforms. Tron, Chiliz, Animoca Brands, Zignaly, Alchemy Pay and Trust Wallet were among the booths installed in the sponsor area.<\/p>\n

\u201cBinance Blockchain Week has always been about more than just Binance; it\u2019s about building community,\u201d Conlan explained, adding that by fostering collaborations with partners, Binance aims to extend its reach to the larger Web3 ecosystem. <\/p>\n

Who needs a bell to announce that panels are starting when there\u2019s an ear-splitting drum on hand? Source: Cointelegraph<\/figcaption><\/figure>\n

Event participants were also happy with the vivid and dynamic atmosphere they encountered in Istanbul. \u201cWe are surprised by the energy and enthusiasm of the Turkey crypto community at Binance Blockchain Week,\u201d said David Uhryniak, Tron\u2019s head of ecosystem development, adding that the most exciting aspects of the event were the stablecoin panel and \u201cthe amazing venue next to the Bosphorus.\u201d<\/p>\n

More praise for Istanbul\u2019s charm and hospitality came from Abdul Rafay Gadit, the co-founder of the crypto trading platform Zignaly. Commenting on Binance Blockchain Week, Gadit told Cointelegraph, \u201cThe event in Istanbul was a success with diverse crypto projects showcasing their long-term efforts, especially given the long bear run.\u201d<\/p>\n

One highlight of the event was engaging directly with developers building Web3 for the next billion users, according to BNB Chain\u2019s head of business development, Tomasz Wojewoda. \u201cIt was fantastic to meet so many developers that are building in the BNB Chain ecosystem and hear firsthand about how they are benefiting from opBNB\u2019s low gas fees and BNB Greenfield\u2019s decentralized storage,\u201d he said.<\/p>\n

Bilal Bin Saqib, a blockchain entrepreneur who featured in Forbes 30 Under 30 Asia, told Cointelegraph that he was fascinated by the discussion on the future of blockchain. \u201cI think the launch of Binance\u2019s first self-custody Web3 wallet was the highlight for me,\u201d Saqib said, noting that the launch opens \u201ccountless avenues to the future of Web3 for the masses.\u201d<\/p>\n

As for Conlon, the \u201cWomen in Web3\u201d session on the Innovation Stage was a substantial highlight of the whole event. \u201cThe discussion delved into the perspectives of several industry-leading women, covering the intersection of female power and the future of technology,\u201d Conlan said.<\/p>\n

Turkey as a hotbed of Web3 innovation<\/h3>\n

The sponsor area was next to the terrace, where the food and beverages were served. Despite the overwhelming crowd, a rich selection of food was always available. Aside from the main dishes, visitors were lining up to taste local delicacies such as simit (a kind of Turkish bagel), Maras-style ice cream and Turkish coffee.<\/p>\n

Visitors from different countries get together in the food line, at the sponsor booths, and over a coffee to talk about Web3, blockchain and crypto within the context of Turkey\u2019s role in the industry while cherishing long-awaited bullish price action in the crypto market.<\/p>\n

Maras-style ice cream made from goat\u2019s milk. Source: Cointelegraph<\/figcaption><\/figure>\n

Highlighting that Turkey has grown to become a significant player in the blockchain space, Binance Turkey general manager M\u00fccahit D\u00f6nmez told Cointelegraph that the open collaboration between traditional financial institutions like Turkish banks and crypto platforms shows the forward-thinking approach of the country. \u201cThis collaborative business environment stimulates an innovation-friendly atmosphere and is good for the blockchain and crypto sector,\u201d he added.<\/p>\n

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The declining local economy will contribute to the accelerating crypto adoption in Turkey, according to Bin Saqib. \u201cWith the Turkish Lira not showing any significant signs of recovery, I think more and more people will enter the crypto ecosystem in hopes of saving their hard-earned money,\u201d he said.<\/p>\n

Cointelegraph couldn\u2019t break the high score in the arcade version of Space Invaders. Source: Cointelegraph<\/figcaption><\/figure>\n

After two days of sessions, Zhao closed out the event via video call, highlighting the crypto exchange\u2019s efforts in compliance and how Binance is helping lawmakers create regulatory frameworks for digital currencies.\u00a0<\/p>\n

Fielding questions from the audience, the Binance CEO said that the crypto industry is moving toward decentralized finance (DeFi), adding:<\/p>\n

\u201cI would like to spend more of my time in DeFi, wallets, etc. I think that\u2019s where the real technology innovation is.\u201d<\/p><\/blockquote>\n

Binance Blockchain Week Istanbul 2023 allowed the Turkish crypto and blockchain ecosystem to boost its visibility through Binance\u2019s global brand.\u00a0<\/p>\n

Bin Saqib said, \u201cBinance has shed light on Turkey\u2019s crypto ecosystem \u2014 something not a lot of people knew about, and this will attract other projects, investors and crypto natives to the country as well.\u201d<\/p>\n<\/div>\n