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CEO Binance: Why Crypto Industry Needs Centralized Exchanges

12 July 2018  |    202

Binance CEO Changpeng Zhao has recently commented on Vitalik Buterin's statement that centralized cryptocurrency exchanges should ‘burn in hell’. He has also tweeted that: ‘Decentralization is a means, not an end. The goal is to increase freedom and choice. Let people choose what they want’. He added that centralized platforms also make a huge contribution to the crypto industry, increasing market liquidity and accelerating the industry development by more than 10 times.

Bart Smith, the head of the digital asset at Susquehanna International Group considers Bitcoin the best choice for crypto investors as a lot of people are already functionally using it. He also points to the practical application of this currency. According to the analyst, that makes Bitcoin more competitive than other cryptocurrencies. Among other advantages are its availability, speed and cheap international transfers. Earlier Bart Smith claimed that Bitcoin could quite compete with gold.

Sirin Labs, a Swiss smartphone developer has announced the release of a blockchain-based phone in November this year. The device will be equipped with a cold storage crypto wallet, a Token Conversion Service, and a great number of blockchain-based decentralized applications. The smartphone will feature a built-in multi-level protection system. This device, to be known as Finney, will cost about one thousand dollars. What is more, the company plans to release a blockchain based PC.

The KIK company has announced that it will allocate up to three million dollars in fiat and crypto to developers for creating up to 25 trading platforms by only using  Kin tokens issued specifically for the Kik messenger app. These marketplaces are supposed to offer anything from access to live video chats with celebrities to rare sticker packs. The Kin crypto was trialed earlier with a beta version of the Kin Marketplace application developed specifically for this case.

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