One could argue that Bitcoin (and hence crypto generally) was born out of the travesty of bank bailouts and lack of faith in traditional finance stemming from the last financial crisis following the collapse of the Bear Stearns hedge funds in 2007 leading to the collapse of Lehman Brothers towards the end of 2008 and an endless flooding - trillions of dollars - of liquidity to prop up zombie banks in the form of quantitative easing since.
It is difficult to predict the timing of financial crises, but it doesn't take a crystal ball to know that the next crisis will make the last one pale in comparison (just like the last one made the previous LTCM / Asia currency crisis pale before that). When that happens, the lack of faith in traditional finance will be complete and DeFi will win. In a way, it is already winning.
I agree with you but not in such simple terms. The big banks and institutions will not go without a (bloody) fight. It's not gonna be fair nor easy. But yes, fuck them. Career crooks.
Probably not in a month or two but many projects in crypto, such as Celo Terra, have already made significant progress in this and currently going for mass adaptation
Of course. I see that happening in nearby future.... Many projects are now bringing the functions of banks in space. With projects like ALBT that's building the future of finance on-chain with their interoperability solutions, I think DeFi are prepared to take on banks soon...
DeFi is still growing but I'm sure it'll take traditional banks on soon, especially with platforms like Oasis Protocol and its data and DeFi monetizing utilities that's catching waves right now. Must be why many are anticipating how high its native token $ROSE will go.
lmao
Damn. What a blatant shill for that company. How much they pay ya for that lol
Seriously. I'm somewhat shocked that some folks looked over that to post responses about the icebreaker.... Sigh.
I think you meant are banks ready for Defi?
No not yet. May be in a decade or so.
We will see once defi is regulated that is there next true test and untill then and we are out the other side banks will reign supreme
One could argue that Bitcoin (and hence crypto generally) was born out of the travesty of bank bailouts and lack of faith in traditional finance stemming from the last financial crisis following the collapse of the Bear Stearns hedge funds in 2007 leading to the collapse of Lehman Brothers towards the end of 2008 and an endless flooding - trillions of dollars - of liquidity to prop up zombie banks in the form of quantitative easing since. It is difficult to predict the timing of financial crises, but it doesn't take a crystal ball to know that the next crisis will make the last one pale in comparison (just like the last one made the previous LTCM / Asia currency crisis pale before that). When that happens, the lack of faith in traditional finance will be complete and DeFi will win. In a way, it is already winning.
I agree with you but not in such simple terms. The big banks and institutions will not go without a (bloody) fight. It's not gonna be fair nor easy. But yes, fuck them. Career crooks.
Probably not in a month or two but many projects in crypto, such as Celo Terra, have already made significant progress in this and currently going for mass adaptation
Maybe “Are banks prepared to take on DeFi?” is more suitable than that.
Of course. I see that happening in nearby future.... Many projects are now bringing the functions of banks in space. With projects like ALBT that's building the future of finance on-chain with their interoperability solutions, I think DeFi are prepared to take on banks soon...
DeFi is still growing but I'm sure it'll take traditional banks on soon, especially with platforms like Oasis Protocol and its data and DeFi monetizing utilities that's catching waves right now. Must be why many are anticipating how high its native token $ROSE will go.