There is a clash of ideologies between centralized and decentralized finance and banking. This leads a lot of people to ask whether or not one is better than the other or if the two need each other. COVID-19 isolation and quarantine has caused a big uptick in online events. This is true for blockchain and other technologies. Although cryptocurrency crews have been swiftly moving from one event to the next, there is a big conference on the horizon. The Blockdown 2020 is a virtual conference in which two cryptocurrency leaders will have a showdown of ideas.
The two entities are the MakerDAO firm's founder, Rune Christensen, and the Celsius Network firm's founder, Alex Mashinsky. Both of them will debate the merits of decentralized versus centralized finance. The virtual conference is scheduled to take place on June 18. Christensen plans to cover topics related to centralized finance and decentralized finance and how they need each other in order to thrive. He will also discuss how they complement one another. He states that decentralized finance's biggest advantage is creating global and transparent networks that are directly accessible by the user. He adds that for regular users who are curious, using these networks can be intimidating.
Mashinsky plans to discuss topics about whether or not making a copy of the existing systems but in a decentralized setup will solve any real-world financial issues. His argument is that a lot of what is going on in decentralized finance is identical to what is happening on Wall Street. The discussion will also include points on whether or not the current financial system is solvent and if it is something that should be propagated. If it is not something that should be cloned, he will discuss what the new system should be like.
Both of these cryptocurrency business CEOs do agree on one thing. Their area of agreement is that the virtual event space for cryptocurrencies has grown because of COVID-19. Both of them conduct multiple virtual meetings every day. Their debate is scheduled to take place online on June 18, 2020, which is next Thursday.