Binance has appointed former Chairman of First Bank of Nigeria, Ibukun Awosika, as one of its global board of advisers.

The cryptocurrency trading company said this in a statement on Thursday in Paris, France.

Binance founder and CEO Changpeng Zhao revealed that the selection would aid in charting the best way forward for web3 cryptocurrency.

In Zhao’s words, “To help chart the best path forward for web3, crypto, our company, and our users, I have established the Binance Global Advisory Board (GAB),” he said.

The CEO further explained that the board, which consists of 11 members renowned for business leadership, would give advice across regulatory, political, and social matters.

Binance Board Members

Also on the board is South Africa’s Leslie Maasdorp, a former vice-president and Chief Financial Officer of the New Development Bank. He had previously worked in the government of South Africa and with Bank of America’s Merrill Lynch, Goldman Sachs Group Inc. and Barclays.

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Alongside Awosika and Maasorp on the list of the advisory board include David Plouffe, a former senior adviser to President Barack Obama; Edward Vaizey, a member of the U.K.’s House of Lords who was a former minister of state for culture and the digital economy; Christin Schäfer, a former banker in Germany who founded a data consulting firm, Adalberto Palma Gómez, a former Mexican Banking and Securities Commission (CNBV) president, among others.

Max Baucus, a former chairman of the US senate finance committee and ambassador to China, will lead the board.

What to Know About Web 3.0

Web3 is a new integration of the internet that decentralises administration with the use of blockchain. It mixes its predecessors, Web1 and Web2, making it more user-friendly, and accessible while being owned by its creators rather than big tech companies.

It has warmed its way into the heart of the regenerative finance movement, a new economic model that operates at the intersection of climate action and Web3 communities.

One common theme that runs through the many working definitions of Web3 is that it will eliminate middlemen.

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About Binance

Binance is a cryptocurrency exchange that features a strong focus on altcoin trading. It offers crypto-to-crypto trading in more than 600 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB).

The trading platform provides a crypto wallet for traders to store their electronic fund and has supporting services for users to earn interest or transact using cryptocurrencies. It also offers programs for miners and helps traders make investment decisions.