Miko Matsumura – Decentralized exchanges are competing for the role of BitTorrent in Crypto

Hello, my name is Sophia Dunn.You’re
watching Crypto Market News. Futurama Blockchain Innovators Summit in Ibiza
brought together leading blockchain and crypto experts who discussed many
topical issues. One of the discussions that attracted attention of the crypto community was about the role of centralized and decentralized exchanges in the growth of decentralization movement. I’m here to fight centralized
exchange because I feel the custodial model is broken which is essentially if
the user doesn’t have the key, then they’re giving all their power. If enough users give all their power away into a central point, the net
power can become abusive because absolute power corrupts. Absolutely. So
I’m here to fight all the centralized exchanges. At the same, time participants
agreed that not all users are ready to work with fully decentralized platforms. Rather, such users are a minority. Naturally, this leads to a problem of
lack of liquidity. I’d like to fight the decentralized
exchanges. On GitHub there are 253 projects that the DEX being tracked. Guess what the daily volume is? It’s 0.05% of
daily volume of the planet. So the issue becomes… Yes, on chain is fully trustable and we love to go on chain with everything. We want everything to be on
chain but we’re not ready. We can’t provide that much liquidity on chain. While Miko agrees that there is a weakness in centralized exchanges, he points out another interesting detail. Another limitation, I think, is very
concerning is, how does a fully decentralized like DAO do something like
compliance of AML [Anti money laundering]? Right, how do they do that? To me what we’re seeing as we see 253 DEX projects essentially competing for the role of
BitTorrent in sharing copyrighted content. The killer application for the non-KYC decentralized exchanges… The killer app can’t be
shut down by a government because it’s protocol based open source like
BitTorrent. It can be used for legal evasion like BitTorrent, can’t be shut down.
And the thing that’s amazing, the killer app is essentially money-laundering. I think, that those 256 decentralized
exchanges are fighting over who gets to be BitTorrent. Do you also think that DEX exchanges are the new BitTorrent? Let us know what you
think about Miko’s statement in the comments section under this video. You’ve been watching Crypto Market News. Subscribe to our channel and don’t
forget to click the bell not to miss the most important news and trends of Crypto. My name is Sophia Dunn. Good bye.

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