Can DeFi and CeFi coexist? Three takeaways from experts pane | NFT / BTC / DEFI News 📣
Can DeFi and CeFi coexist? Three takeaways from experts panel.
Education, transparency and access were the key themes discussed by experts from across the crypto industry during a debate on whether CeFi and DeFi can coexist.
As price action bewilders market makers and traders, experts in the crypto industry reached an agreement on several important points last week. Notably, centralized finance (CeFi) and decentralized finance (DeFi), can coexist, and a “blend” of financial products and services will be available to users in the future.
On Jan. 19, Cointelegraph moderated the panel discussion, “Can CeFi and DeFi Coexist?” for the Global Blockchain Business Council. In the video, panelists hash out questions related to adoption, banking the unbanked, and whether innovation means disruption of traditional financial services.
Salient points included the need for greater education and transparency in the cryptocurrency space, while financial inclusion could be reached thanks to smooth onboarding techniques and clear-cut regulation. Popular blockchains like Solana and the Bitcoin Lightning Network cropped up as well as DeFi protocols including Uniswap.
In terms of education, Mary Beth Buchanan, president, Americas and chief legal officer at crypto risk and intellegence fMerkle Science, commented:
“A lot of people are not being served in traditional finance. The winner in the disruption race will be the project that has the ability to reach those in the community who are not currently accessing DeFi, and there has to be education.”
Ambre Soubiran, CEO of digital asset data provider Kaiko, agreed that the solution to broadening DeFi’s reach is through “education, onboarding, and knowing the risks. People want the easy ability to reset a password as opposed to remembering 24 words.”
Daniel Peled, founder and president of public blockchain Orbs, is passionate about bringing financial inclusion to “the two billion people around the world,” but “the industry is early.” He echoed Soubiran’s point that “many people don’t have access to DeFi applications; the products are complicated and tech-heavy. People still don’t know how to secure their funds securely.”
