Changpeng Zhao, CEO of Binance, has shared a contrarian opinion about two controversial crypto projects. He argues that upcoming cryptocurrencies from JP Morgan and Facebook have every right to exist alongside decentralized projects—an idea that not everybody agrees with.
Unpopular opinion: JPM/FB coins.
In a decentralized world, anyone can do as they please (within limits, so long as they don’t hurt others). The more people adopt #crypto, the better.
Adoption is #adoption. Welcome!
How well will they do? Well, let’s wait and see. https://t.co/ke3wYhsexI
— CZ Binance (@cz_binance) March 9, 2019
The Controversial Coins
Both projects are controversial. JPM Coin is an upcoming stablecoin targeted at banks and financial institutions, and its ties to traditional finance could help it gain adoption. However, it has also been widely derided as a more restrictive and centralized version of Ripple. Even Ripple’s own Brad Garlinghouse has criticized the project.
Meanwhile, Facebook is said to be working on a cryptocurrency…