Binance Blockchain Week showcases Turkey’s crypto industry

Binance Blockchain Week Istanbul 2023 As global crypto exchange Binance brings its main event to Turkey on November 8-9, trading will be conducted in the Turkish lira – the platform's top trading pair.

Although Binance CEO Changpeng “CZ” Zhao was not present at the event, the Binance c-suite was more than enough to turn Binance Blockchain Week into one of the most packed web3 events Istanbul has ever seen, along with a full list of event sponsors' CEOs.

As the city that connects Europe to Asia, Istanbul is no stranger to international crypto and blockchain meetings. While most events prefer easy access to the heart of the city and choose hotels nearby, Binance chose a location on the shores of the Bosphorus – away from the subway and many other modes of transportation – to show its visitors the true beauty of Istanbul.

It is not often a problem to visit the main event venue without registration or to get a last minute ticket at the entrance – at least for most events in Turkey. However, for Binance Blockchain Week, security was tight and tickets were sold out. Binance's event team designed a two-floor layout for over 2,000 attendees from around the world.

Visitors are greeted by a spacious hall leading to the upper floor where the main stage and booths are installed. The entrance floor offered a variety of activities, including a small hair salon where visitors could opt to have the Binance logo sprayed on their hair, two old-school arcades, and an innovation platform focused on startups.

The importance of the Istanbul event was evident from Binance's point of view, as the crypto platform made a big announcement of its Web3 wallet – from the Binance-owned Trust Wallet – for this event.

Binance Head of Regional Markets Richard Teng kicked off the event by introducing the Binance Web3 Wallet to Binance's 150 million users.

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Starting on a high note, Binance Blockchain Week Istanbul featured two days of keynotes and panels from prominent blockchain, crypto, web3, gaming and entertainment congregants in Istanbul. There were opportunities for people from all backgrounds and experience levels to participate or network.

The big moment

Watch @_RichardTeng introduce the new #Binance Web3 Wallet for the first time during #BinanceBlockchain week!

pic.twitter.com/xEQh6YpBS5

— Binance (@binance) November 11, 2023

Binance Chief Marketing Officer Rachel Conlan told Cointelegraph that the exchange considered several cities before choosing Istanbul as the destination for this year's Binance Blockchain Week.

“The city has an incredibly active crypto community, and the continued strong support we've received from this local community played an important role in our decision.”

Citing surveys that have ranked Turkey among countries with high crypto adoption, Conlan said this participation and adoption “affirms our long-term commitment to investing in and nurturing the blockchain ecosystem in Turkey and makes Istanbul a natural choice for our flagship event.”

The main event was the absence of Binance's CEO, who is known to embrace a decentralized culture at Binance and even suggested that he might be willing to step down as CEO.

“Effective decentralization means not only the distribution of authority and responsibility, but also visibility,” Conlan said.

Binance wants to continuously engage users and ensure a consistent presence across platforms and regions, and having an experienced team representing the company impartially is critical to that goal, she added.

Binance and the larger Web3 ecosystem

Although it was a Binance event, the conference included many other organizations and platforms. Tron, Chillies, Animoca Brands, Zignali, Alchemy Payment and TrustWallet were among the booths set up in the sponsor area.

“Binance Blockchain Week is not always about Binance; it's about building the community,” Kolan explained, adding that by increasing collaboration with partners, Binance aims to extend its capabilities to the larger Web3 ecosystem.

The participants of the event were happy with the vibrant and dynamic atmosphere they experienced in Istanbul. “We were surprised by the energy and enthusiasm of the Turkish crypto community at Binance Blockchain Week,” said Tron's head of ecosystem development, David Uhrynik, adding that the most exciting aspects of the event were the stablecoin panel and “the amazing space that followed.” Bosphorus”

More praise for Istanbul's charm and hospitality came from Abdul Rafai Gadit, founder of crypto trading platform Zignali. Commenting on Binance Blockchain Week, Gadit told Cointelegraph, “The event in Istanbul was particularly successful with various crypto projects demonstrating their long-term efforts.”

One focus of the event was to engage directly with developers who are building Web3 for the next billion users, said Thomas Wojewoda, Head of Business Development at BNB Chain. “It was great to meet so many developers building in the BNB Chain ecosystem and hear firsthand how they are benefiting from opBNB's low gas fees and BNB's Greenfield decentralized storage,” he said.

Blockchain entrepreneur Bilal Bin Saqib, who participated in Forbes 30 Under 30 Asia, told Cointelegraph that he was excited by the discussion on the future of blockchain. “I think the launch of Binance's first self-sustaining web3 wallet is a big deal for me,” Saqib said, adding that it opens up “innumerable avenues for the future of web3 for the masses.”

As for Conlon, the “Women in Web3” session on the Innovation Forum was a significant highlight of the entire event. “The discussion focused on the perspectives of several industry leaders covering the intersection of women's power and the future of technology,” he said.

Turkey has become a hotbed of Web3 innovation.

The sponsor's place was near the terrace where food and drinks were served. Despite the huge crowds, there is always a wide selection of food available. In addition to the main dishes, visitors lined up to taste local delicacies such as simit (a type of Turkish baguette), maras-style ice cream and Turkish coffee.

Visitors from different countries will gather over food lines, sponsor booths and coffee to talk about Web3, blockchain and crypto in the context of Turkey's role in the industry and taking care of the long-awaited bullish price action in the crypto market.

Highlighting that Turkey has grown to become a major player in the blockchain space, Binance Turkey General Manager Mukahit Donmez told Cointelegraph that open cooperation between traditional financial institutions such as Turkish banks and crypto platforms shows the country's forward-thinking approach. “This collaborative business environment fosters an environment conducive to innovation and is good for the blockchain and crypto sector,” he added.

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The declining local economy will contribute to the acceleration of crypto adoption in Turkey, Bin Saqib said. “With the Turkish lira not showing any significant signs of recovery, I think a lot of people are going into the crypto space hoping to save their hard earned money,” he said.

After two days, Zeo closed the event with a video call honoring the exchange's efforts and showing that Binance is helping lawmakers create a regulatory framework for digital currencies.

In response to questions from the audience, the Binance CEO said that the crypto industry is moving towards decentralized finance (DeFi).

I want to spend more time on DeFi, Wallet etc. I think this is where the real technological innovation lies.

Binance Blockchain Week Istanbul 2023 allowed the Turkish crypto and blockchain ecosystem to increase its visibility through the Binance Global brand.

Bin Saqib said, “Binance shines a light on Turkey's crypto ecosystem – something that many people don't know about, which attracts other projects, investors and crypto natives to the country.