The rise in popularity of DeFi continues to generate headlines. Despite this ongoing growth, not everyone sees merit in this particular approach.
Litecoin creator Charlie Lee does not trust the current generation of decentralized finance solutions.
The DeFI Industry Still has Ample Room for Growth
Given the recent incident affecting bZX, it’s not hard to see where that sentiment comes from.
For Lee, it is evident that DeFi in its current form is the “worst of both worlds”.
That is quite a harsh and critical stance, but one that is somewhat understandable.
As most of the current solutions can seemingly be shut down by a centralized party, the landscape is a bit more complex than initially assumed.
More importantly, when things go wrong, there is no way to “undo” the damage quickly either.
That is somewhat normal when dealing with decentralized solutions, although Charlie Lee is considered the “decentralized” aspect is just a facade.
When new technology comes around, there will be severe growing pains.
This has become apparent with cryptocurrencies, blockchains, and smart contracts.
It is only normal that DeFi would fall into the same category sooner or later.
It is an extension of the aforementioned forms of technology, after all.
The coming months and years will undoubtedly yield interesting results for the DeFi industry.
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