Report indicates that although DeFi has the potential to disrupt traditional finance, leaders in incumbent financial services also have the opportunity to participate in and shape its impact on their businesses.
HONG KONG, Sept. 9, 2020 /PRNewswire/ — Decentralized Finance (DeFi) growth has been explosive. In the last year, the value locked into DeFi has increased 1500% to $8bn, according to DeFi Pulse. As analysts question how disruptive it will be to traditional finance, Crypto.com and Boston Consulting Group (BCG), have today, released a joint research report weighing the implications DeFi will have on centralised finance.
“The Sudden Rise of DeFi: Opportunities and Risks for Financial Services” explores the factors driving the growth of the DeFi industry, which is an Open Finance movement built upon public programmable blockchains such as Ethereum. DeFi’s proponents expect