Centralized cryptocurrency exchanges similar to stock exchanges in the stock market, such as Nasdaq, CBOE and NYSE. Such exchanges actually are a Trustee in the process of buying and selling assets. Usually for their services, brokers charge a fee. For many cryptocurrency enthusiasts this is akin to a curse.
On the other hand, decentralized exchange, or DEX not based on the credibility of the mediator. They are independent. Therefore, they conform more to the spirit of cryptocurrency.
Decentralized exchanges, when fully functional, will mark the end of any potential control by governments and will be the beginning of the largest economic boom in human history.https://t.co/GwqQAABLSU— John McAfee (@officialmcafee) 15 September 2018
When decentralizovanno stock exchange will earn at the full capacity it will be the beginning of the biggest economic boom in human history.
In an interview for BoxMining McAfee stated that most of the centralized exchanges are corrupt, to one degree or another, and they will disappear within five years.
Thus decentralized exchanges will be able to put an end to the “confrontation with governments.”
After all, regardless of power available to the government, it will not be able to stop the activities of these exchanges:
Because I don’t care how much you have power like the government as police and as soldiers. If the exchange will consist of 20 million wallets on smartphones, laptops and tablets, the fact that this can make the government? Nothing. They would have to close all 20 million wallets worldwide.
McAfee believes that centralized exchanges are corrupt. Customers don’t know in which country they operate and who owns the exchange. However, “they process hundreds of millions of dollars every day.” McAfee concludes: “So, of course, they become corrupt.”
Regulations and all the police in the world is useless because we don’t know where actually there are centralized exchanges. But at the same time, McAfee did not lose hope, he believes he can save the situation, the blockchain technology.
The blockchain is the first technology with which you can determine what is true and what is not. CNN broadcasts their truth, Fox News, the Russians, and the Chinese – another version. And that this is indeed true – no one knows. It is important to remember that truth and regulation cannot co-exist.