Stating that the industry is moving towards decentralized finance, Binance Strategy Officer Patrick Hillman stated that Binance’s centralized exchange could be wiped out of the market within 10 years and lost its current dominance.
Speaking on a program on Thursday, Hillman, who made statements about Binance’s central exchange, said that the crypto money market trend towards decentralized finance He mentioned that Binance’s centralized exchange may lose its dominance because of this.
“In addition to presenting our reserve evidence with the Merkel tree method, we will carry out a step-by-step process involving a 3rd party auditing body. This will take time in an organization like Binance.”
Mentioning that these processes will take time as Binance is larger than the New York Stock Exchange, London Stock Exchange and Tokyo Stock Exchange, he stated that he felt embarrassed about the time it took to complete the process.