Traditional finance remains cautious of decentralized finance, but there are opportunities for collaboration.
Opinion by: Roy Mayer, founder and CEO of Vixichain
When traditional finance (TradFi) institutions shifted from skepticism to interest in crypto and its technological and financial solutions, hope emerged that its involvement in the industry could drive growth and widespread adoption. As crypto and decentralized finance (DeFi) propel an economic evolution, competing realities must inevitably coexist.
Following countless bankruptcies, individuals no longer blindly trust the banking system, and the financial freedom DeFi and crypto promote provides a more efficient, affordable alternative. As the engine of our economic system, however, TradFi helps keep the financial environment safe by designing regulations that protect both businesses and individuals. Even if digital assets and blockchain become the premier payment rail and value movements, TradFi will remain a part of the equation.
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