“Distributed Exchanges are just around the corner.”
Words from the popular cryptocurrency enthusiast and social media influencer, John McAfee who has made his opinion clear on the current state of the market and what the future could hold for crypto assets and blockchain over a longer term period.
At the beginning of and interview with BoxMining, McAfee was questioned regarding the prospects for the crypto industry for the next 20 to 30 years. In response, McAfee first said that no one can make any accurate predictions in looking that far into the future and that it would make more sense to ask him for a four or five year forecast. McAfee said that he would eat his own genitals if Bitcoin doesn’t reach $1 per coin by 2020. He brought up two main ideas while responding to BoxMining. His first idea he said with just one word – adoption – he pointed out that despite prices being in a slump “it has been climbing in use,” bringing attention to the fact that a number of users and those accept Bitcoin as valid payment method are rising up.
McAfee’s next idea was decentralised, or distributed, exchanges which are more commonly named DEXs within the community. McAfee stated:
“It means that once we no longer have centralised exchanges, and they will all disappear eventually – within five years they will be gone – nothing can shut us down, financial institutions, banks, nothing… I don’t care how much power you have as a government, how many police, how many soldiers, whatever, if the exchanges are distributed across 20 million wallets on smartphone, laptops, and pad, it is impossible [to shut down a DEX].”
For a while now, DEXs have been seen as the future of crypto industry and many people like McAfee believe that this would see centralised systems put down. This would lead to a global recognition where decentralisation is law.
What are your thoughts? Let us know down in the comments!