CZ Predicts DEX Will Surpass CEX In The Next 10 Years

CZ, Co-Founder and CEO of the world’s largest centralized crypto exchange (CEX) by trading volume, recently shared his thoughts on decentralized finance (DeFi) and decentralized exchanges (DEX).

CZ’s thoughts on DeFi and DEX

Speaking in an interview with the two co-hosts of the Bankless podcast, CEO Binance Changpeng Zhao (CZ) predicted that DeFi and decentralized exchanges (DEX) would be far superior to their centralized competitors within the next decade. 

“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 CeFi.”

CEO Binance said

Although CZ acknowledged it would take a while for centralized exchanges to “fall to zero” he predicted decentralized platforms would take over the market within the next 5 to 10 years. The CEO of Binance is optimistic about DeFi, but he also thinks centralized exchanges will continue to exist for “many decades to come.”

Customers were acquainted and at ease with centralized exchanges, according to CZ, and many users would continue to favor this method of authentication over a decentralized network. He also mentioned that people from his parents’ generation would be especially opposed to the concept of utilizing an encrypted USB stick for their private key login.

Decentralized technology and its user interface, according to CZ, will advance and become “far more usable,” she added. Due to the absence of know-your-customer (KYC) procedures, which are frequently time-consuming for exchanges, he claimed that decentralized solutions were “really easier to use” in some instances.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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