- In a new interview on YouTube’s Bankless channel, Binance CEO Changpeng Zhao predicts that in 10 years, decentralized blockchain projects will rise above centralized finance.
- Changpeng Zhao: “I think in five to 10 years, decentralized exchanges will be bigger than centralized exchanges… I would say, at most, in 10 years, DEX and DeFi will be bigger than CeFi.”
- There are still many people who are much more comfortable using an email and password.
Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange by trading volume, predicts that decentralized finance (DeFi) and decentralized exchange platforms (DEX) will outshine their centralized counterparts in the long run.
In a new interview on YouTube‘s Bankless channel, Binance CEO Changpeng Zhao predicts that, in 10 years, decentralized blockchain projects will rise above centralized finance (CeFi) and centralized exchanges (CEX).
“I think in five to 10 years, decentralized exchanges will be bigger than centralized exchanges… I would say, at most, in 10 years, DEX and DeFi will be bigger than CeFi.”
Changpeng Zhao
Zhao also says that while he believes that centralized crypto protocols will eventually be overtaken by decentralized ones, he still believes in a future where they can co-exist, as many people will still prefer conventional methods to access their accounts.
“I think it would take a long time for centralized exchanges to get to zero, but I think it will be five to 10 years before DeFi is bigger than centralized, but centralized will continue to play a role for many decades to come.”
There are still many people who are much more comfortable using an email and password. If you ask my parents’ generation, they would prefer, email and password, instead of using a USB stick to make encrypted backups of their private keys in a distributed way, CZ opined.
Technology will improve to a point where decentralized things will be much more useful. It’s actually easier to use because you don’t have to do “Know your Customer” KYC. You don’t have to do all these tedious processes. You can be in control of your wallet on your own.
