DeFi Will Destroy the Traditional Banking System

DeFi Will Destroy the Traditional Banking System

Decentralized finance, or DeFi, tries to take traditional banking services and put them on the blockchain.

I’m talking about making loans, borrowing, trading assets on exchanges and more.

But now, banks are trying to get into the DeFi space by offering crypto services to their clients. And it seems like they’re creating Frankenstein’s monster.

That’s because the banks are building something that could evaporate their own businesses.

In today’s Market Insights video, Steve Fernandez and I discuss why the crypto boom has put banks in a difficult situation.

(If you’d prefer to read a transcript, click here.)


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Ian King

Editor, Strategic Fortunes

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