The CEO of sports betting service DraftKing is confident that without an element of centralization, blockchain and cryptocurrencies will not become a mass product.
Jason Robins gives his take on the industry in a new podcast Gm by Decrypt. The businessman voiced the popular opinion that the current state of the cryptocurrency industry is very similar to the early Internet, which was filled with all sorts of scammers, and also had a very poor and complex interface that confuses non-tech-savvy users.
According to the businessman, the crypto industry should be more accessible to the general public, and this can be achieved through “a little centralization.” Robins believes that centralization provides a level of control that can help protect people from themselves and prevent them from running into some scammer:
“There are many people who will be horrified to learn that one small mistake in the recipient’s address can lead to their $10,000 NFTs going to another user or completely burned without the possibility of a return. In such operations, there is no intermediary who could stop the user and make sure that he is protected from such misunderstandings.
Robins stressed that he is aware of the core principles of the industry and that there are many people who are deeply committed to the ideals of decentralization. However, in his opinion, some element of centralization, which would make the blockchain more understandable and down to earth for ordinary users, is necessary.
At the beginning of the year, the cybersecurity agency Certik published the results of a study of hacker attacks on decentralized finance (DeFi) protocols for 2021. According to the study, in 16.5% of cases, hackers were helped to steal money by vulnerabilities associated with centralization elements.