The CEO of One of the Most Prominent Crypto-Exchanges Talks Highly of DeFi

One of the most unique services currently being offered by the crypto-industry is Decentralized Financing. As per many crypto-analysts and commentators, DeFi has the potential of replacing the traditional bank financing systems.

Most of the crypto-analysts have also been heard stating that the future of crypto would be in shadows if DeFi is not able to work.

However, the DeFi service has also faced a lot of resistance and criticism in the recent years. The main reason behind the resistance is its very nature. As the name suggests, DeFi is decentralized in nature meaning it has no ruling authority or middlemen.

Due to its very nature, it is very difficult to make the service compliant and regulated for the users.

Even then, some of the most prominent personalities of the crypto-industry still talk highly of decentralized financing.

Just recently, the CEO of one of the most prominent cryptocurrency exchanges ‘Binance’ commented on DeFi. Changpeng Zhao, who is the CEO of Binance recently commented on the positioning of the DeFi industry.

As per Changpeng, the future of DeFi is bright and the service is here to stay. Although there are many projects that are currently faced with obstacles and complexities but still the DeFi industry will come out like a gem.

During an interview with one of the Russian news agencies, Zhao presented his argument around the performance of DeFi. He stated that he is fully aware that there are many DeFi projects that are in a hiccup. Still, he is of the opinion that the DeFi industry will not be completely impacted by such downfalls.

He also stated that he is confident that the DeFi industry is here to stay and will not be disappearing at all.

While commending the technology of the decentralized financing, Changpeng Zhao stated that he is very high hopes for the DeFi industry. He stated that the DeFi industry has a lot of room for growth and too much potential on its back.

He stated that although some of the initial coin offerings that initiated in 2017 are not doing well, still, the ICO projects launched by Binance have brought in some very promising outcomes.