CZ Feels He's Powerful - Until He's Not!

^{In the meantime, don't be fooled, he is!}

Yes, we've all talked about centralized exchanges, regulations and the alternative system which is permissionless and decentralized. Though decentralization remains a tough goal of which timely effort and development would inevitably achieve, the runners of world trade as I'd call it, praises his network and its relevance.

Personally, I use Binance, but not in a way that Binance has to know who I am! Ever heard of Safepal? Ever known it has an in-built Binance application? Do you also know that recently it's been deploying investment options? Creating a Three way bridge; personal wallet - cex - dex with ultimately; Defi capabilities, it's really an awesome app that I'd anytime prefer to metamask and trust wallet. With Safepal, you basically own a Binance account with just an address, not with P2P or Credit Card purchases tho!

Speaking of credit cards, you see why CZ Feels powerful? But QuickSwap DEX Offers Credit and Debit Card Support and D - stands for Decentralized… Now, I'll note that I've never used quickswap so I don't know how it works, even certain private wallets have credit cards purchase capabilities, Safepal basically bridges simplex for this, but too bad my dumb bank account will get frozen if I try to process that, CBN ain't crypto friendly!

With credit/debit card crypto purchases, user information is still on the leak. This is basically a gateway to total financial submission, I'm just like; here you go, that's all my card details, everything you need to hack me and take them pennies in there… Crypto is slowed by these bullshits, yep, show me a dex that creates a smart contract that brings P2P trading to a whole new level. Talk about a contract that bridges Centralized database and Decentralized database, where data stored on the centralized network isn't exposed in the process but the operation is monitored and managed by the blockchain, wooo, that sounds almost impossible but never say never.

^{“If you think that, don’t touch any centralized systems,” CZ said. “Stay in the decentralized world, all the power to you.”
Centralized systems are needed to help bring money into crypto from mainstream finance while also providing an exit route}

But since this doesn't quite feel functional at the moment, it creates room for CZ to comment on the importance of centralized exchanges, yes, he's right that crypto needs them to bridge the transitional banking system to the crypto space, this will continue long enough, just until people begin utilizing crypto in mostly 80-90% of their transactions, then who'll need CEXs, why will anyone need to convert to Fiat anymore?

Hold on, Hold on, is this where CBDCs could likely play in?

Believe me when I say I didn't intend to bring CBDCs into this, but fuck, suck it up, CBDCs could become the bridge that puts CEXs out of business! Look at it this way - FIAT to CBDCs to CRYPTO, central banks can easily push for the adoption and all physical copies of Fiat can become digital, thus giving it room to interact with its likeness, the blockchain friends, crypto!

The more you think of it, the more you realize there's just a lot to be done to make Decentralized Finance a limitless reality. Many of the current centralized systems will play an important role to push volumes onto the crypto space, there's still way more Fiat value needed to convert to cryptocurrencies. Until this is up, nothing hits the right balls…

Posted Using LeoFinance ^Beta