Module Ten: History of Binance Coin 

Lesson 1: Binance Initial Coin Offering 

The history of Binance started several years prior to its launch. The Binance team distinguished the network immediately upon initiating the ICO (Initial Coin Offering) during July 2017. 

For many years the Beijie Technology team was the lead developer for, and as such, worked closely with, the Binance team. Beijie Technology was owned by Changpeng Zhao. It was mid-2017 when Changpeng Zhao announced that Binance Coin (BNB) was ready.  

The ICO was active June 14th through July 21st of 2017. Fifteen million dollars was raised by the ICO.

BNB was initially based on the Ethereum network but is now the native currency of the Binance blockchain.

Lesson 2: Growth of BNB 

Soon after the launch, the value of BNB was ten cents. The value went up to $2 on November 30^th and increased steadily until January 12^th when it reached its highest point of $24. Many investors took note of this steady growth and participated to take advantage of the value.

At the beginning of 2018, the Binance team announced that it intended to shift to a new blockchain.

Lesson 3: Binance BuyBack

The new Binance blockchain network, announced in 2018, was intended to provide enhanced autonomy for BNB while it continued to be the primary engine driving the parent Binance exchange.

At the beginning of 2018, the Binance team instituted a process for buying back BNB from the public. During this process Binance intended to buy 100 million BNB from current owners; leaving only 100 million on the network.

Lesson 4: Who Created Binance Coin?

Binance is a cryptocurrency exchange based in Hong Kong that developer Changpeng Zhao (CZ) launched July 2017. Changpeng Zhao owned the Beijie Technology company.

Binance Coin (BNB) was started by Changpeng Zhao who is the CEO of Beijie Technology. Beijie Technology specializes in cloud-based exchange systems.

Beijie Technology was founded in 2015. More than 30 financial exchanges in Asia use its platform. Upon completion of the BNB ICO, Zhao resigned from his position at Beijie Technology to focus on the continued development of Binance.

Lesson 5: Fusion Systems

It was 2005 when Zhao co-founded the Fusion Systems. Fusion Systems was a company that developed ultra-low latency trading models for financial brokers. It was this experience that facilitated his creation of Binance.

During the years 2005 through early 2018, Zhao was associated with major financial institutions including Goldman Sachs, Deutsche Bank, and Credit Suisse.

The Beijie Technology team was heavily involved in early development of the Binance coin and exchange.

Binance team members included James Hofbauer, Roger Wang, Allan Yan, Paul Jankunas, and Sunny Li.