Binance CEO names the moment when centralized cryptocurrency exchanges will lose popularity

Changpeng Zhao, CEO of cryptocurrency exchange Binance, shared his thoughts on the confrontation between centralized trading platforms (CEX) and decentralized finance (DeFi). In his opinion, DEX exchanges will become industry leaders in about 10 or 20 years.

The entrepreneur expressed the opinion that today most people are still unfamiliar with cryptocurrencies and do not use them. The acceptance of this asset class has reached a little more than 1−3% of the world’s population.

At the moment, according to Zhao, the majority of the cryptocurrency audience does not really understand the technical features of the blockchain, and therefore prefers to choose to access their cryptocurrency wallet through the email and password with which they visit cryptocurrency exchanges. Those who are using DeFi today are tech professionals for whom the sometimes complex organization of DeFi is not a problem.

According to Zhao, in 10 years, DeFi tools will occupy 50% of the cryptocurrency exchange market, after which they will begin to displace traditional SEX exchanges.