US presidential candidate Brooke Pierce believes that real decentralization in its pure form does not exist today and will not be practical in the near future.
Celsius founder and CEO Alex Mashinsky said in an hour-long interview published earlier today that while DeFi is moving towards decentralization, it should not try to be completely decentralized at the moment.
Crypto-venture capital has become political and has argued that a hybrid approach involving decentralized and centralized management is more appropriate.
“We all in this room generally believe in decentralization,” he said. “The truth is that this [hybrid approach] is more practical in the short term. We have not achieved this yet.”
Pierce noted that he had a similar conversation in the early stages of Tether: “Do we do it decentralized or with one foot in the old [central] world and one foot in the new [decentralized] world. “In the end, Tether chose the latter.
He said that DeFi is currently a springboard towards real decentralization, and that today’s innovation is a “ladder that will ultimately lead to the promise we all dreamed of.”
Since Celsius has been criticized for being too centralized, it should come as no surprise that Mashinsky agrees that mixed solutions should be discussed first:
“It’s not about DeFi versus CeFi, or the version of Celsius versus the version that Compound has.”
“Half of the assets in DeFi today are key assets,” he explained. “Most people do not understand this. Anyone who calls it Pure DeFi understands nothing about blockchain. ”
The businessman pointed out that “if a court order is issued to seize these assets,” it will not matter how the assets are seized, and these institutions may freeze these assets.
“I’m not happy about that, I’m just making it clear that there is no pure DeFi version today. Of course we all want this, but we do not live in this world yet. The most advanced of us have one. one foot in a decentralized world and one foot in a centralized world. ”
Referring to his political approach, Pearce made it clear that trying to decentralize the US government would mean taking power from the federal government and transferring it to state authorities. He said: “From a political point of view, I stand by this.”