Binance CEO CZ predicts that in the long run, DeFi and DEX will surpass centralized exchanges. In a recent episode of the podcast , CZ gave investors advice on the bear market.
Binance CEO Changpeng Zhao makes 10-year prediction for DeFi
In a new interview on Bankless’s personal channel, Binance CEO predicts that within 10 years, decentralized blockchain projects will surpass centralized finance (CeFi) and centralized Chemical Exchange (CEX). During part of the podcast, CZ made the following statement:
I think that in 5 or 10 years, decentralized exchanges (DEX) will be bigger than centralized exchanges (CEX)... in 10 years at most, DEX and DEFI will be larger than CEFI.
Zhao (CZ) also believes that centralized encryption protocols will eventually be surpassed by decentralized protocols. However, he said he still believes in a future where these can coexist, as many people will prefer traditional methods of accessing their accounts. CZ’s statement on this issue is as follows:
I think it will take a long time for centralized exchanges to return to zero. However, it took DEFI 5 [or] 10 years [before] to be bigger than centralized exchanges. However, centralized exchanges are here to stay for decades.
As for why DEX is preferred, CZ listed many factors:
I think there are still many people who prefer to use email and passwords. If you ask my parents' generation, they would rather have an encrypted backup of their private key using [email and password] and distribute the distribution via USB memory stick ... I think technology will evolve to allow decentralized The point where things become more useful. It's actually easier to use because you don't have to go through a KYC [know your customer arrangement]. You don't have to do all this very tedious stuff. You are in control of your wallet.
CZ’s statement was praised by Michael Saylor and Nayib Bukele
CZ said in the same podcast that the current price is an investment opportunity. Additionally, Michael Saylor and Nayib Bukele applauded CZ for these statements. Yesterday, El Salvador’s President Nayib Bukele reported on Twitter that the country purchased 80 Bitcoins for $19,000. Bukele also said the country had not been affected by the recent recession. On July 1, Nayib Bukele stated the following on Twitter :
Bitcoin (BTC) is coming. Thank you for selling cheaply.
El Salvador bought 80 #BTC today for $19,000 each! #Bitcoin is the future!
thank you for selling cheap PIC.TWITTER.COM/ZHWR0LN1ZE— Nayib Bukele (@nayibbukele) July 1, 2022
Finally, Bitcoin price entered the $19,000 range over the weekend, according to TradingView data. However, one of the highlights of the day was Coinbase halting BTC sales.
