CEX is just the DVD version of Netflix.
Don’t be Kodak.
CZ, LA Blockchain Summit, 2020.
From mail-order discs to streaming. From CeFi to on-chain.
$DVD
CZ once said: Centralized exchanges are just Netflix's mail-order DVD version.
Don't be Kodak; clinging to film will lead to bankruptcy.
(Original quote from the 2020 LA Blockchain Summit).
DVDs are outdated; it's time to go on-chain.
(0x23bfb968f4c53900ffcaac4c52bd8eb880f67777) At the 2020 Los Angeles Blockchain Summit, CZ used the business stories of Netflix and Kodak to put forward a highly forward-looking industry assertion: Centralized exchanges are just Netflix's mail-order DVD version. Don't be Kodak; clinging to film will lead to bankruptcy. The DVD model will eventually become obsolete; the future of the industry should move on-chain.
Traceable Evidence
1. Czech crypto media KryptomagazinCZ, October 9, 2020 report
Title: Přístup Binance k DeFi: Buď jako Netflix, ne jako Kodak
Webpage: https://t.co/2vadOvBqFE
X (Twitter) corroborating tweet: https://t.co/94ednga9Ov
2. Original YouTube video of the summit
Link: https://t.co/PHW9FB9QVI
Speech excerpt: 7 minutes 46 seconds - 8 minutes 03 seconds, can be located to view the live speech.