The world’s leading blockchain ecosystem Binance hosted the first ever Binance Community Meetup in Georgia at The Biltmore Hotel in Tbilisi. The event was attended by over 800 people.
Launched in July 2017, Binance celebrates its 5 year anniversary as the fastest company to reach a $1 Billion profit in history. During this time the team increased 17 times and the number of users reached 120 mill. Binance sees its mission in increasing the freedom of money, without sacrificing security (compliance) and by providing access to crypto to a wider audience. Binance aims to get licenses in every part of the world and works tirelessly on entering new markets.
While Crypto is going mainstream at an incredible rate and has amassed an incredible ATH at a $3 Trillion market cap, leading financial institutions (around the globe) scramble to adjust their strategies and enter the market, said Vladimir Smerkis, Binance Regional director, in his opening address to the meetup guests in Tbilisi.
During the event, the speakers and guests discussed the current global and local crypto market state, its risks and perspectives.
Here are some of the highlights of the meetup:
The perspectives of the crypto market in Georgia:
Vladimir Smerkis, Binance Regional Director:
“We at Binance believe that Georgia is a very promising market in regards to cryptocurrency for a few reasons. Firstly, the crypto users ER (Engagement Rate) is very high in Georgia, we can see here that people widely use crypto in their everyday life. Secondly, local authorities understand that just to ban cryptocurrency is a dead-end policy and suggest very modern and smart solutions for creating the licensed space for crypto and blockchain technologies solutions development. For these and many other reasons Binance is already investing and will continue to invest significantly into the Georgian market. And our Meetup is only the first step”.
CryptoLeo, Blogger, miner, crypto investor:
„The development of crypto in Georgia is currently hindered only by banks with their blocking. Once this is solved, there will be no barriers to development as the whole sphere is already booming due to the presence of many crypto enthusiasts and interesting crypto-related startups and the loyal attitude from the state in Georgia.“
Marie Giorgobiani, Chief of Operations at Arena Games:
„We see great potential for Georgia to become a regional crypto hub. More and more local crypto startups are emerging; many well-known international companies are moving part of their teams here. It’s a pleasure to see that such initiatives are also supported by leading market participants like Binance.“
How to invest in a situation of a bear market?
Vladimir Smerkis, Binance Regional Director:
“The market is driven by fear and greed, so it is important to be able to cope with this psychology and figure out what you are really investing in with your money. Over the past few months, we’ve witnessed volatility in the crypto market. At the same time, we saw many people giving money away like in a field of miracles without having any idea what’s behind this coin and due to what factors, it can grow. It’s important to do careful research on each coin and constantly engage in self-education”.
George Paliani, CEO @Coinspaid media
“The bear market can drag on for a long time. If we analyze bear markets over the past 100 years, then their duration lasted from 33 to 929 days.Therefore, the first thing I would like to recommend is not to panic in the market and try not to sell everything. The bear market is a very good time to invest. After a while, all indicators will begin to improve and a bull market trend will appear”. Now I would advise you to buy more assets, both crypto and classic, to rebalance your portfolio in order to better control possible risks. If we talk about hedging, this is certainly a great option, but it requires a lot of time and knowledge”.
How to spot and protect yourself from scams?
According to Eduard Yamilov, Binance Marketing and Community manager, Crypto scams will keep evolving in the future. Through education, newcomers can be aware of schemes used by these parties and hopefully protect themselves from scams better. Binance is taking more proactive measures to mitigate these fraud-related scams. If you have fallen victim to a crypto scam, please contact your local authorities and they will further assist you.
Web 3 development
Anka Tsintsadze, Binance Marketing and Community manager in Georgia:
“The technology of today’s Internet version of Web 2.0 was not always familiar. Back in 1990, websites could only display content, and users could not change any data. Now the Internet has become interactive, where users can interact using databases, special forms, and social networks,” said Anka. She emphasized that the concept of Web 3.0 is built around the idea of decentralization and is based on blockchain. The Internet technology of the new generation also includes the development of DAO. “DAO is a blockchain system that assumes collective management, which makes it capable of working without central management”.