Five years after COVID-19 sparked a global remote-work revolution, the pendulum seems to be swinging back. Some of the very companies that once embraced remote work, like Amazon and X (formerly Twitter) are now asking employees to return to the office. For many, this makes sense. These organizations were conceived as “in-person” enterprises, with workflows and cultures built around physical proximity. Remote work was a necessary adaptation during a global crisis, but for some, its efficiencies may not justify a permanent transition.

Remote-first is not a temporary patch for us; it is our foundation as it is for many companies in the Web3 and crypto sector. From the moment Binance was established in 2017, it was designed as a global, remote-first organization, a model tailored to the demands of an industry that never sleeps. Operating in the borderless world of crypto, where markets function 24/7 and our users span every corner of the globe, a remote-first model is not just reasonable – it’s essential.

My belief is that, over time, remote-first work will not remain a niche strategy. As industries evolve and talent dynamics shift, this model will become dominant. Companies that are now forcing employees back into offices will eventually find themselves adapting to this new reality – once again.

Building a Remote-First Organization

Cryptocurrency is inherently global and decentralized. The crypto and Web3 industry operate around the clock, with no single geographic or temporal center. Binance’s remote-first model aligns perfectly with these demands, enabling us to serve users in over 100 countries without the overhead of maintaining sprawling physical offices. Our entire workforce of more than 5,000 employees working from nearly 100 countries are remote first. A study by Stanford University revealed that remote work increases productivity by 13 percent while reducing turnover rates and organizations save an average of $11,000 annually per employee by adopting remote-first models with reduced office costs and increased efficiency.

This approach maximizes efficiency, allowing us to operate lean and agile while empowering our teams with the autonomy to deliver exceptional results.

We also provide hybrid work in jurisdictions where we hold regulatory approvals and have a physical presence in places like Dubai and Paris, allowing us to have hubs for collaboration and regulatory engagement without compromising on the benefits of a distributed workforce. And, balancing global operations with local nuances that ensure us to adhere to jurisdictional requirements seamlessly and maintaining a physical presence where required.

Efficiency does not come automatically in a remote-first setup. It requires deliberate systems, strong culture, and the right tools. At Binance, we place immense emphasis on hiring the right people: self-driven individuals who thrive in a fast-paced, decentralized environment. We provide them with the tools and resources to succeed, whether it’s cutting-edge collaboration platforms or flexible budgets to execute their goals.

Maintaining a cohesive culture across a distributed workforce is perhaps the biggest challenge, but it is also where Binance excels. We foster a shared culture built on user focus, mutual respect, direct communication, and a shared commitment to innovation. Regardless of where an employee is based, they are united by our principles: no discrimination, strong user-centricity, and a relentless drive to push boundaries. Technology plays a key role here, allowing us to maintain seamless communication and collaboration across time zones.

Of course, challenges remain. Time-zone differences can complicate synchronous collaboration, and fostering a sense of belonging in a fully remote environment requires intentional effort. To address these, we fine-tune asynchronous workflows, invest in robust team-building initiatives, and create opportunities for employees to connect virtually and in-person where possible.

Not for Everyone, But the Right Fit for Many

While remote-first is central to Binance’s success, it is not a one-size-fits-all solution. It works best for industries and organizations that value agility, creativity and global reach. For traditional industries with deeply entrenched in-office processes, or for companies whose cultures were shaped by decades of physical collaboration, a full pivot to remote work may not be feasible – at least, not yet.

Even within the tech sector, there are notable differences. Companies like Amazon that once epitomized innovation have settled into more rigid structures over time, requiring employees to work in the office three days a week and increasing that to five by 2025 while monitoring their in office days, prioritizing control over flexibility. For these organizations, reverting to an office-based model may seem logical. But I believe this approach overlooks the broader trends shaping the future of work.

Remote-first work demands a certain type of talent: creative thinkers, self-motivated individuals, and those who thrive on autonomy. It also requires organizations to embrace a culture of trust and accountability. Not every company, or every employee, is prepared for this level of independence but the rewards are immense: access to a global talent pool, unparalleled flexibility, and the ability to move at the speed of innovation.

Why Remote is the Future

The world is becoming increasingly digital, with services and products tailored to distributed geographies and diverse demographics. This shift is mirrored in how people live, work, and perceive freedom. The traditional model of commuting to a central office five days a week is becoming a poor fit for this new reality.

Workforces are also becoming more global. The best talent can come from anywhere, and companies that wish to attract and retain this talent must offer flexibility. Remote-first organizations like Binance demonstrate the effectiveness of this model, creating competitive pressure on traditional firms to adapt. As companies compete for top-tier talent, those clinging to old models risk being left behind.

AI will also play a transformative role. As automation takes over repetitive tasks, the workforce will increasingly consist of high-level thinkers – creative, strategic, and analytical individuals. These workers value autonomy and flexibility, and remote-first models cater to their preferences. Companies that embrace this shift will be better positioned to thrive in the evolving landscape of work.

That said, remote-first does not mean abandoning physical interaction entirely. Hybrid models – combining the benefits of remote work with periodic in-person or virtual collaboration – offer a promising middle ground. At Binance, we have periodic virtual team building events, virtual and in person fun clubs with some teams having regular offsites and our local teams gathering regularly, notably in regions where we hold regulatory approvals. They provide the flexibility employees crave while preserving the human connections that enhance creativity and teamwork.

Pioneering the Future of Work

Of course, remote-first work is not universal. Certain professions, like healthcare, manufacturing, and others that rely on physical presence – will always require on-site operations. But for many white-collar roles, the potential for remote work is immense. The shift will be gradual, likely taking decades, but it is inevitable.

Binance is proud to be at the forefront of this transition. Our remote-first model not only enables us to lead in the fast-paced world of crypto but also sets a standard for what work can look like in the future. By prioritizing flexibility, autonomy, and a global mindset, we are blazing a trail for others to follow.

As the world continues to digitize and decentralize, the companies that embrace these principles will be the ones that thrive. At Binance, we’re not just building the future of finance – we’re building the future of work. And we’re just getting started.

Centralized data networks, ones that are owned and/or managed by a single entity, have been structurally broken for years. Why? Single points of failure. If one entity (or even a few) has access to a database, then there is only one “point” to compromise in order to gain full access. This is a serious problem for networks holding sensitive data like customer information, government files, and financial records, and those with control of infrastructure like power grids.

Billions of digital records were stolen in 2024 alone, causing an estimated $10 trillion in damages! Notable breaches include nearly all of AT&T’s customer information and call logs, half of America’s personal health information, 700 million end-user records from companies using Snowflake, 10 billion unique passwords stored on RockYou24, and Social Security records for 300 million Americans.

Source: Statista, 2024

This is not just a private sector issue — governments and crucial national infrastructure also rely on centralized networks. Notable recent breaches include records on 22 million Americans stolen from the U.S. Office of Personnel Management, sensitive government communications from multiple U.S. federal agencies, personal biometric data on 1.1 billion Indian citizens, and the ongoing Chinese infiltration of several U.S. internet service providers.

Although hundreds of billions of dollars are spent each year on cyber security, data breaches are getting larger and happening more frequently. It’s become clear that incremental products cannot fix these network vulnerabilities — the infrastructure must be completely rearchitected.

Source: market.us, 2024

AI magnifies the issue

Recent advancements in generative AI have made it easier to automate everyday tasks and enhance work productivity. But the most useful and valuable AI applications require context, i.e. access to sensitive user health, financial, and personal information. Because these AI models also require massive computing power, they largely can’t run on consumer devices (computer, mobile), and instead must access public cloud networks, like AWS, to process more complex inference requests. Given the serious limitations inherent in centralized networks illustrated earlier, the inability to securely connect sensitive user data with cloud AI has become a significant hurdle for adoption.

Even Apple pointed this out during their announcement for Apple Intelligence earlier this year, stating the need to be able to enlist help from larger, more complex models in the cloud and how the traditional cloud model isn’t viable anymore.

They name three specific reasons:

1. Privacy and security verification: Providers’ claims, like not logging user data, often lack transparency and enforcement. Service updates or infrastructure troubleshooting can inadvertently log sensitive data.
2. Runtime lacks transparency: Providers rarely disclose software details, and users cannot verify if the service runs unmodified or detect changes, even with open-source tools.
3. Single point of failure: Administrators require high-level access for maintenance, risking accidental data exposure or abuse by attackers targeting these privileged interfaces.

Fortunately, Web3 cloud platforms offer the perfect solution.

Blockchain-Orchestrated Confidential Cloud (BOCC)

BOCC networks are like AWS — except built completely on confidential hardware and governed by smart contracts. Though still early days, this infrastructure has been in development for years and is finally starting to onboard Web3 projects and Web2 enterprise customers. The best example of this architecture is Super Protocol, an off-chain enterprise-grade cloud platform managed completely by on-chain smart contracts and built on trustless execution environments (TEEs). These are secure hardware enclaves that keep code and data verifiably confidential and secure.

Source: Super Protocol

The implications of this technology address all of Apple’s concerns noted earlier:

1. Privacy and security verification: With public smart contracts orchestrating the network, users can verify whether user data was transported and used as promised.
2. Workload and program transparency: The network also verifies the work done within the confidential TEEs, cryptographically proving the correct hardware, data, and software were used, and that the output wasn’t tampered with. This information is also submitted on-chain for all to audit.
3. Single point of failure: Network resources (data, software, hardware) are only accessible by the owner’s private key. Therefore, even if one user is compromised, only that user’s resources are at risk.

While cloud AI represents an enormous opportunity for Web3 to disrupt, BOCCs can be applied to any type of centralized data network (power grid, digital voting infrastructure, military IT, etc.), to provide superior and verifiable privacy and security, without sacrificing performance or latency. Our digital infrastructure has never been more vulnerable, but blockchain-orchestration can fix it.