Nick Chong · 8 hours ago · 2 min read
The crypto industry has long been engaged in a debate regarding whether or not the merits of Centralized Finance (CeFi) outweigh those of Decentralized Finance (DeFi).
The debate is largely premised around the topic of decentralization – which is one that is an integral component of the cryptocurrency ecosystem.
Although Bitcoin – the first cryptocurrency – helped initiate a global transition towards decentralization, some parts of the ecosystem that has grown around it have epitomized centralization.
That’s not to say that these entities don’t have their share of benefits, but it is a contentious debate topic.
This debate is particularly relevant while looking towards the peer-to-peer finance opportunities that have been seeing booming popularity – like DeFi and CeFi.
Interested parties and prospective users will soon have the chance to watch two industry leaders face-off in a virtual debate regarding the strengths of the two bourgeoning financial ecosystems.
MakerDAO founder and Celcius Network CEO to face-off in CeFi vs DeFi debate
In just under three weeks, the founders of two of the leading entities within the CeFi and DeFi industries are going to face-off in what could be a heated debate.
Alex Mashinsky – the CEO of the centralized lending platform Celsius Network – will take to BlockDown 2020’s virtual debate stage to discuss this topic with Rune Christensen, the founder of the decentralized finance platform MakerDAO.
They will focus on the premise of their debate on which financial service best benefits users within the crypto space.
At the end of the day, the debate will likely boil down to whether or not users are justified in foregoing some security and privacy in exchange for a fully decentralized, peer-to-peer, lending experience.
Debate to take place in BlockDown’s 3D virtual world
The debate will take place on June 18th and 19th within the virtual BlockDown conference.
The event held its inaugural launch last month, attracting thousands of users and multiple A-list speakers to the virtual environment.
Erhan Korhaliller, the CEO and founder of Blockchain PR agency EAK Digital, was inspired to launch the event due to the global lockdowns that have resulted from the pandemic. The virtual environment allows users to enjoy all the benefits of a normal in-person conference from the safety of their homes. Korhaliller explained:
“Throughout this period of lockdown we have been determined to keep the crypto and blockchain community connected and networking, while also delivering industry-leading talks, discussions and debates.”
The CeFi versus DeFi discussion will mark the crown jewel of the upcoming conference, although there will be many other events.
Korhaliller spoke about the exciting debate, saying:
“Alex and Rune come from two different schools of thought prevalent in blockchain, and both are fascinating characters and business leaders in their own right. To have them debating centralized vs decentralized finance at a time when the global economy is in dire need of an alternative, makes this a must watch debate.”
The June edition of BlockDown 2020 will be streamed live on CryptoSlate. For more information about the event, click here.
Disclaimer: CryptoSlate is a media partner for BlockDown.