Decentralized Finance (DeFi) Poised to Take Over as Global Financial System: Maple Finance CEO
According to Sidney Powell, CEO of Maple Finance, decentralized finance (DeFi) could grow 100 times larger and replace traditional finance (TradFi) companies within the next decade. Powell believes that the DeFi sector can expand by offering more financial products and using real-world assets as collateral. While DeFi is currently a small part of the financial system, regulatory clarity and guidelines could open up the space to traditional financial institutions, which could lead to massive growth in the DeFi sector. Powell predicts that DeFi companies will ultimately replace legacy financial institutions that are unable to adapt to the innovation of the crypto space. She also suggests that DeFi needs a business model oriented around using new infrastructure or technology to take over the financial system.
Clever Robot News Desk 3rd May 2023
