Tech Advances Associated With DeFi Could ‘Profoundly Affect’ Financial Market Trading, Says US Fed Governor
Technology tamfitronics A crypto-skeptic US Federal Reserve governor says technology advances associated with decentralized finance (DeFi) could complement its centralized finance counterpart.In a speech earlier this week in Vienna, Austria, Fed Governor Christopher J. Waller said DeFi tech could lead to efficiency gains, though he also stressed the value of centralized financial markets.“It is easy to see how the emergence of these technologies could lead one to think of DeFi as a substitute for centralized finance. For example, the technologies are allowing for individuals to trade assets without giving up control of those assets to an intermediary – a critical distinction with centralized finance.However, there are other uses emerging from these technologies that look more like complements to centralized finance. For example, distributed...