The CEO of Binance, Zhao spoke with the Bankless YouTube channel last week. According to the CEO of Binance, it would take a maximum of 10 years for the majority of blockchain initiatives to transition from controlled systems to decentralized ones.
He added: “Decentralized exchanges will likely surpass centralized exchanges in size in five to ten years, in my opinion. I would predict that DEXes and DeFi will be larger than CeFi at most within the next ten years.”
In addition to these factors, Zhao thinks there are considerable chances for DeFi (decentralized finance) and CeFi (Traditional finance) to coexist because many individuals still prefer to manage their internet data via email & password rather than using USB-based encryption technology systems.
Zhao is confident that decentralized initiatives will succeed because technology will advance to the point where decentralized systems will be significantly more beneficial than centralized ones.
Through the conversation, Zhao made a subliminal suggestion that smart people would be able to sustain the centralized finance sector on the long run.
As we’ve already mentioned, Binance Exchange operates its own decentralized trading system, which we’ve dubbed “Trust wallet,” and it also has a hand in a number of cryptocurrency firms.
Although very different from DeFi Protocols, Trust Wallet still offers integrated third-party Defi Protocols services, depending on user demand. Trust Wallet offers highly secured decentralized trading services.
Binance is a highly ranked cryptocurrency exchange because it offers top-notch crypto services to all types of users.
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