Changpeng Zhao suggested that DeFi platforms will become much more popular than centralized financial systems (CeFi). The businessman explained: DeFi offers users a wide range of financial products and services: lending, borrowing, and asset trading. And all this without the involvement of intermediaries.
The Binance CEO emphasized the benefits of decentralized systems: greater transparency and security, fewer user restrictions, low fees, and competitive interest rates.
Zhao believes that DeFi platforms have already shown resilience to market volatility and tight regulatory oversight. This is attracting not only retail investors, but also large financial companies, which are starting to see DeFi as a viable investment.
Over the past year, hackers have been able to steal more than $6.7 billion from DeFi protocols, according to data from DeFillama in July.
Source: Bits
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