Just a few days ago, Vitalik Buterin, the co-founder of Ethereum had quite the curt statement to make about the concept of centralized cryptocurrency exchanges. Needless to say, his statement caught a lot of people off guard and one of them was the CEO of one of the centralized cryptocurrency exchanges he was talking about – Changpen Zhao of Binance.
Vitalik Buterin is one of the main proponents of decentralization and he took on that role with fervor as he spearheaded the development of Ethereum, the world’s second largest cryptocurrency platform. He is a prominent programmer of Russian Canadian origins and he is very well known for all the work he has been doing in the cryptocurrency landscape.
In an interview that he was giving with TechCrunch, the cofounder of Ethereum expressed quite a bit of explicable hate towards the concept of centralized cryptocurrency exchanges by saying
“I definitely hope centralized exchanges go burn in hell as much as possible.”
As you can expect, the moment he made the statement, it blew up on the internet like all controversial things do. Social media went abuzz with the statement by Vitalik being debated here and there. It seemed like literally everybody had an opinion about Vitalik had to say for centralized cryptocurrency exchanges. This includes the likes of Changpen Zhao, the CEO of one of the world’s most well known centralized cryptocurrency exchanges.
A Bigger Heart
Changpen Zhao, or as his Twitter handle, ‘CZ’ said that he wouldn’t wish for anyone to burn in hell and that it is not a very nice thing to say even if Vitalik was saying it.
According to Zhao, everybody who has a stake in cryptocurrencies are a part of the whole cryptocurrency community. That includes the likes of centralized cryptocurrency exchanges. He believes that it is in the best interest for everybody to work together as a wholesome community rather than encouraging some form of infighting within the cryptoverse through such controversial statements.
He had a bit more to say about the matter. Zhao has a stern belief that the cryptocurrency world would not be on the same level it is right now if it was not for the advent of centralized cryptocurrency exchanges. He said:
“if it was not for fiat (and centralized) exchanges, the industry would be smaller and the industry would develop slower.”
While it is true, the growth and development of this nascent alternative economic system will lessen the need for centralized cryptocurrency exchanges as we move forward. For now, however, there definitely needs to be a more proactive approach towards moving forward as a wholesome global community.