Binance founder Changpeng Zhao (CZ) has made some remarkable statements about how Bitcoin ($BTC) could be protected against quantum computers in the future and how the $BTC suspected of belonging to Satoshi Nakamoto should be dealt with.
Appearing on the Galaxy Brains podcast hosted by Galaxy Research President Alex Thorn, CZ said that quantum computing is not an insurmountable problem for Bitcoin. According to CZ, quantum-resistant encryption algorithms already exist to counter the risks that quantum computers could pose. The crucial point is whether the Bitcoin community can make such a transition in a coordinated manner.
CZ argued that “do nothing” regarding the estimated 1 million people $BTCespecially those associated with Satoshi Nakamoto and inactive for a long time, would be a bad choice. According to the Binance founder, if Bitcoin were to move to a new quantum-resistant cryptographic structure in the future, the community should give the owners of these addresses 6 to 12 months to move their assets to the new system.
CZ said that if no activity is observed at the addresses believed to belong to Satoshi during this period, the $BTC should be frozen under the new protocol. In such a scenario, around 1 million $BTC could be withdrawn from circulation.
According to CZ, the lack of measures in this regard could mean that these BTCs would fall into the hands of the first person or people capable of decrypting addresses using quantum computers in the future. CZ said this would not be a fair or healthy distribution method.
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However, CZ added that the final decision should be made by the Bitcoin community, not him. The Binance founder said such a critical decision could be shaped through signaling mechanisms or similar community voting within the Bitcoin ecosystem.
CZ also shared his thoughts on $BNB Chain and the general management of the crypto sector during the podcast. Reminding viewers that he no longer manages the day-to-day operations of the Binance exchange, CZ said this allows him to spend more time with developers and that he is excited about the new features being developed on $BNB Chain.
According to CZ, the new version of $BNB The chain will be faster, cheaper and have more privacy controls. CZ also offered advice to blockchain developers, saying that major technical updates are best implemented in calmer bear markets rather than bull markets.
CZ, also speaking about RWAs (real world assets), said he was more skeptical about it about a year or a year and a half ago. He said initially he was unsure whether these assets would actually be tradable and whether the industry would embrace this space.
However, CZ expressed surprise at the rapid growth of the RWA space, stating that assets such as stablecoins, oil futures, and AI stocks have gained strong acceptance within the crypto community. According to CZ, this indicates that many people around the world want access to these types of financial assets.
CZ also argued that crypto should not be seen as a separate, isolated sector. According to the Binance founder, crypto should be seen as a new technological tool that makes financial transactions faster, cheaper and more transparent.
*This does not constitute investment advice.
