December 9th, 2025

Privacy, Decentralization, and the Future of Crypto: CZ Zhao’s Pragmatic Vision

Privacy, Decentralization, and the Future of Crypto: CZ Zhao’s Pragmatic Vision

In a conversation with Anndy Lian, Binance founder Changpeng “CZ” Zhao delivered a clear and grounded perspective on two core challenges in blockchain: privacy and decentralization. His comments reflect years of experience building infrastructure under regulatory, technical, and market pressures.

Privacy as a baseline requirement

CZ began by stating that privacy is a fundamental human right. He pointed out that many everyday actions—spending choices, personal communications, even ice cream preferences—should remain private, even if they are entirely legal. Current blockchains, he noted, often provide too much transparency. When a centralized exchange holds KYC data tied to an on-chain address, it becomes possible to trace nearly all activity linked to that user. This level of exposure creates risks that go beyond compliance.

He argued that the industry must invest in privacy technologies such as zero-knowledge proofs. At the same time, he recognized the need to balance privacy with the ability of authorities to investigate illicit activity. The exact line remains unclear, but he believes the ecosystem should shape that balance together, not leave it to regulators alone.

CZ extended this logic to trading. He criticized the practice of broadcasting trades in real time on decentralized exchanges. Public visibility allows others to reverse-engineer strategies and deploy targeted countermeasures. Serious traders, whether on Wall Street or Binance, avoid revealing their positions. Large orders are executed quietly to prevent market impact. Real-time transparency only serves those trying to manipulate perception, not those seeking efficient execution.

Decentralization is not binary

CZ rejected the idea that a system is either decentralized or not. Instead, he described decentralization as a spectrum with many dimensions. The number of validator nodes, team influence, mining concentration, and governance mechanisms all factor into the equation.

He gave examples. Ethereum benefits from technical decentralization but still carries weight behind certain voices, such as Vitalik Buterin. Bitcoin’s creator remains unknown, a form of decentralization in itself. Mining power sits heavily with a few large pools. Collusion is theoretically possible, but economic incentives discourage it. Decentralization, therefore, depends not just on structure but on aligned incentives.

He also highlighted a key trade-off: performance versus distribution. More nodes often mean slower throughput. Ethereum’s scaling challenges illustrate this tension. Idealism must contend with usability. True progress lies in advancing technology to achieve greater decentralization without sacrificing speed or security.

A path forward

CZ expressed confidence that innovation will gradually resolve these tensions. Advances in cryptography, consensus design, and network architecture will enable systems that are more private, secure, and decentralized without compromising efficiency. He noted that network effects naturally favor large players, but long-term progress depends on deliberate engineering choices.

His brief mention of AI suggests a future where intelligent systems could enhance privacy or improve decentralized coordination. While he offered no specifics, the implication fits a broader trend. Combining AI with blockchain may unlock new models for user sovereignty.

CZ’s outlook avoids dogma. He treats privacy as essential infrastructure, decentralization as a multidimensional goal, and technological evolution as the only sustainable path forward. For developers, investors, and regulators, his perspective offers a realistic framework for building the next era of digital finance.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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March 25th, 2025

Consensus Hong Kong 2025: Fireside chat with Anndy Lian

Consensus Hong Kong 2025: Fireside chat with Anndy Lian

Fireside Chat: Community, Exchanges, and Sustainability in Web3

The fireside chat between Thomas Kay and Anndy Lian delved into the challenges and opportunities in the Web3 space. The conversation began with a discussion on community building.

Anndy Lian video timeline:

13:01 – “Building Community is a lot tougher than a lot of you guys think, especially comparing now to 2018 when huge influence of users are coming into the web3 space without much knowledge. But right now a lot of the users are actually a lot more educated.” – Anndy Lian
13:23 – “To really build a strong Community, you need to provide enough value for them. It’s not just like you have some airdrops, everybody just come to my community and then they stay with you. We don’t need this kind of community. We want communities that stay with you because of who you are or what you provide for them long term.” – Anndy Lian
15:51 – “If your community is built based on incentives, they’re not loyal. That’s basically someone that comes to you today for airdrops will go to another Community next day for another airdrop. That’s not something that we really look for.” – Anndy Lian
16:06 – “We want to back projects as much as possible to really build a very loyal community.”
16:14 – “Unity is the most important thing. Whenever I see a very good Community, not so much of a project to be honest, because if the project is good usually I think the community is actually walking the talk.” – Anndy Lian
17:03 – “If it’s real community members, you can see the action that they do, the kind of feedback that they give is very different. I treasure those.” – Anndy Lian
17:54 – “I definitely do hope you guys go the route where you guys really build a Unity community and not just a quick one-two months projects and then you move on to the next. I think that’s something that really should change in the space.”
18:25 – “It’s actually very obvious that users are looking for exchanges who can offer them an extra layer of security.”
18:44 – “What people really really want is about accessibility on-ramp, off-ramp. If an exchange is able to provide that additional punch to make sure that the money can safely flow out through a legitimate way, I think that would be a big plus.”
19:34 – “The KOLs are just like butterflies, they shift from A to B to C with the same users. Sooner or later exchanges’ role is also to help us see out what are the good KOLs that you should really talk to and work with.” – Anndy Lian
20:09 – “You become a really healthy flow of user base within the space. I see that in Asia a lot. I’m very active in South Korea, Japan, Southeast Asia. You see that the trend is very obvious – they’re looking for an exchange that they can be with for a long time.”
23:05 – “We see meme coins as a door opener. It’s an easy entry. People can explain very very well. The people I met are very enthusiastic.”
23:20 – “How these memes can survive depends on how many members you can get and what is the kind of narrative that you can provide. A typical roadmap is start with a meme followed by a nice utility.”
24:29 – “There should be a journey for all these memes to carry on because most of the memes, if you are not the top 300 or 500, there’s no way you can survive. So if you need to survive, you need to partner.” – Anndy Lian
25:11 – “Ultimately, you get your community to work for their own benefit. If they can work for their own benefit, the sustainability of the project can go a lot longer, super long. It could last to the next cycle. The problem with projects nowadays is that they have a nice meme, just a nice meme, but they have no plans, they have very poor leaders that don’t know anything apart from just posting ‘I’m feeling good today, the meme is very happy.’ We don’t want to hear this. We want to see price action, we want to see real Partnerships.” – Anndy Lian

Special thanks to Full Value Dan and his team for the team. Read the full article on https://anndy.com/event/consensus-2025-whats-next-for-weex-presented-by-thomas-kay-fireside-chat-with-anndy-lian/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

March 14th, 2025

Anndy Lian on the Future of Web3: Community, Transparency, and Sustainability at Hong Kong Consensus 2025

Anndy Lian on the Future of Web3: Community, Transparency, and Sustainability at Hong Kong Consensus 2025

Anndy Lian, a best-selling author and blockchain strategist, shared his pointed perspectives on the evolving Web3 landscape during a fireside chat at the Hong Kong Consensus 2025. The event, which also featured a presentation by Thomas Kay, Vice President of WEEX Global, provided a platform for Lian to delve into critical topics such as community building, the changing role of exchanges, and the long-term sustainability of blockchain projects.

Community is King: Beyond Incentives and Towards True Engagement

Lian immediately addressed the challenges of building authentic communities in the current Web3 environment. He acknowledged that users are far more sophisticated than in the early days of crypto, demanding more than just airdrops and fleeting incentives. He agreed with Thomas Kay’s point that building a strong community requires providing genuine, long-term value. “It’s not easy to really build effectively,” Lian stated, emphasizing the need for “unity” within the ecosystem. He suggested that larger, more established exchanges should actively support smaller, promising projects, particularly those in emerging markets like Russia, Kenya, and Brazil.

Lian believes that genuine community engagement is the key to identifying promising projects. He shared, “Whenever I see a very good community…it will be easier for us to spot good projects on X,” highlighting the importance of observing real user activity and feedback, as opposed to artificial engagement from bots. He treasures the input from genuine community members, believing it’s a crucial indicator of a project’s potential.

The Evolving Role of Exchanges: Transparency and User Trust

The conversation then turned to the critical role of cryptocurrency exchanges in the Web3 ecosystem. Lian highlighted the growing demand for exchanges to provide not only security but also accessibility, especially regarding the often-complex processes of on-ramping and off-ramping funds. He stated that users want to know that their money can “safely flow out through a legitimate way.”

Lian also predicted a shift away from exchanges heavily reliant on Key Opinion Leaders (KOLs) or influencers. He argued that KOLs often act like “butterflies,” flitting between projects and bringing the same audience with them, ultimately providing little unique value. He believes that exchanges have a responsibility to help users identify genuinely valuable projects and partners.

Perhaps most strikingly, Lian revealed that everyday users (“normies”) are becoming increasingly savvy about the inner workings of exchanges. He shared that he frequently receives questions in AMAs and private groups about exchange listing fees, with users questioning whether exchanges are prioritizing revenue over genuine community support. “Normies are actually asking these questions,” he emphasized, underscoring the growing demand for transparency in the industry. He believes this is “one important metric that we should share,” and that “things should be transparent.”

Memes as a Gateway, But Sustainability is Key

On the topic of meme coins, Lian acknowledged their role as an accessible “door opener” to the crypto world, attracting new users with their fun and relatable nature. However, he cautioned that long-term survival requires more than just initial hype. He believes that successful meme projects need a clear roadmap, strong leadership, and a focus on building a genuine community.

Lian proposed innovative models for meme coin sustainability, such as creating real-world extensions like franchise cafes or merchandise lines. These ventures, he argued, could create a “sustainable business” where the community actively participates and benefits, ensuring the project’s longevity. He used the example of an “Anndy cafe” as a global clubhouse, networking with exchanges and partners.

He was critical of projects that lack concrete plans and rely solely on fleeting trends. “We want to see price action, we want to see real partnerships,” he asserted, highlighting the need for projects to collaborate with exchanges and other entities to create genuine value. He cautioned against prioritizing superficial influencer marketing over genuine community benefit, stating, “If you want to be sustainable, you have a big community, make sure that you can monetize that.” He believes that projects should focus on benefiting their communities directly, rather than funneling resources to influencers who may not have the community’s best interests at heart.

A Call for Candor and Collaboration

Lian’s overall message was one of collaboration, transparency, and a focus on long-term sustainability. He emphasized the need for open and honest conversations about the challenges and opportunities within the Web3 space, even touching on potentially controversial topics like exchange listing fees. His concluding remark, “I hope everybody can do well in this run,” reflected his hope for a future where projects, exchanges, and communities work together to create a thriving and equitable ecosystem. He believes that walking the talk and benefiting the community is the right path. He also mentioned that he is not against KOLs or influencers, but if a project wants to be sustainable, it has to monetize its big community.

Video Source: https://consensus-hongkong2025.coindesk.com/agenda/event/-weex-sponsored-session-92 (Official Video from Consensus 2025)

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j