The chief executive officer of Binance exchange believes that the next 10 years will flip the position of the Cefi & Defi industry with each other.
Changpeng Zhao is the founder and CEO of Binance exchange. Binance is a first-ranked crypto exchange because of its high-quality crypto services for every type of user. Exchange is active in almost every type of crypto business, which includes decentralized crypto trading platforms & centralized as a dominant region.
Last week, Binance’s CEO appeared in an interview with the Bankless YouTube channel. During the interview, Binance’s CEO said that the majority of the blockchain projects will shift from centralized platforms to decentralized and it will take a maximum of 10 years.
“I think in five or 10 years, decentralized exchanges will be bigger than centralized exchanges… I would say “maximum, in 10 years, DEXes (and) Defi are going to be bigger than Ceci.”
Besides these things, Zhao believes that there are significant possibilities where Defi ( decentralized finance) and Cefi (Traditional finance) may co-exist because in the present time there are still huge numbers of people who love to handle their online data via email & password instead to use encryption technology based USB like system.
Zhao believes that the future of decentralized projects will be better enough because technology will improve to a point where the decentralized stuff will be much more useful than centralized. Through the interview, Zhao indirectly hinted that knowledgeable people may help the centralized finance industry to sustain the future.
Binance’ Cefi & Defi platform
As we already reported that Binance exchange has its hand in many crypto businesses and also Exchange owns its own decentralized trading platform, which is what we called “Trust wallet”.
Trust wallet provides highly secured decentralized trading services, however much different from defi Protocols but still provides integrated third-party Defi protocols services, which depends upon the need of users.