Binance CEO Changpeng ‘CZ’ Zhou is still often asked about centralization vs decentralization. As a result, he has decided to definitely answer the question in an official blog post.
CZ begins by stating security, ease-of-use and freedom are far more important that centralization or decentralization. He explains that some hardcore “crypto-people” believe decentralization is the ultimate goal. In CZ’s opinion, decentralization should be a means of achieving increased freedom and security without sacrificing ease-of-use.
He goes on to say that many people see decentralization as absolute: it’s either decentralized or it isn’t. however, CZ explains that in reality, he feels that there is “a gradient scale from centralization to decentralization.” Instead, perhaps a better question to ask is: how decentralized should we be? If becoming increasingly decentralized increases freedom but at the cost of security and ease-of-use, it will reach a point where it becomes more negative than positive.
Having said that CZ adds that he is still a big proponent for decentralization, believing that, while it may not be the answer to every question, it will help distribute power from the hands of the few.