Decentralised finance, or DeFi, is quickly gaining traction as a new way to access financial services. However, some experts argue that the DeFi movement should not be viewed as a direct attack on traditional finance, but rather as a complementary addition to it.
One of those experts is Ava Labs CEO Emin Gün Sirer, who recently spoke in an interview with CoinTelegraph at the World Economic Forum in Davos about the role of DeFi in the financial ecosystem. According to Sirer, DeFi should be seen as a way to provide access to financial services to those who are currently underserved by traditional institutions.
"DeFi is about inclusion, not exclusion," Sirer said. "It's about providing financial services to people who have been overlooked by traditional financial institutions."
Sirer went on to explain that DeFi can play a crucial role in helping to bridge the gap between the "have" and "have-nots" in the financial world. He argued that DeFi can provide access to financial services to people in developing countries and other underserved communities, allowing them to participate in the global economy.
Furthermore, Sirer emphasised that DeFi can also benefit traditional finance by providing new opportunities for innovation and increased competition. He noted that DeFi can help to spur innovation in the financial industry by providing new ways to access and use financial services.
"DeFi is not a threat to traditional finance," Sirer said. "It's an opportunity to create a more inclusive and innovative financial system."
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.