Binance’s CEO predicts Defi in 10 years
Decentralised financing (DeFi) and decentralised exchange systems (DEXes) will outperform their centralised versions, according to the CEO of the world’s biggest crypto exchange by trading volume.
Binance CEO Changpeng Zhao expects decentralised blockchain initiatives will overtake centralised finance and exchanges in 10 years.
He recently said: “I believe that in five to ten years, decentralised exchanges will surpass centralised exchanges… In ten years at most, DEXs and DeFi will surpass CeFi in size.”
Zhao also claims that even though he thinks centralised crypto protocols will ultimately be surpassed by decentralised ones, he believes they may coexist in the future since many people would still prefer traditional account access ways.
“I believe it would take a long time for centralised exchanges to cease to exist, but I believe it would take five to ten years for DeFi to surpass centralised exchanges in size. But CEX will still have their contributions in future.
I believe this is due to the fact that there are still many individuals who are far more at ease using email and a password. My family would rather use [email and password] than a USB stick to encrypt and deploy their private keys.
I believe that as technology advances, decentralised content will become much more useful. It is much simpler to utilise since you do not need to comply with KYC standards. You are not required to do each of these tiresome procedures. You have complete power over your pocket.”
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