At a conference hosted in Paris by the Banque de France (BdF) on September 27, there were suggestions that if the obstacles facing decentralised finance (DeFi) cannot be surmounted, then it may not be allowed to flourish within the financial system.
DeFi removes the need for intermediaries, allowing parties to transact directly on peer-to-peer networks run on blockchains. These automated networks are typically controlled by decentralised apps that manage issues such as governance and liquidity. DeFi replicates exchanges and banks with the promise of greater speed, lower costs and anonymity.
