/biz/ - Business & Finance

[Anonymous No.51546244]

Anons, we all know that the crypto market is in the throes of a winter. But at the same time, so is the traditional financial market. Came across an article by the International Monetary Fund about how both markets need each other. Especially for mainstream adoption, DeFi needs to integrate a few of the regulatory practices that continue to keep TradFi stable. What does biz think about that

[Anonymous No.51546367]

>>51546244
Look, I believe they can come together and fund renewable energy etc but it would take a lot of clear rules and standards, anon

[Anonymous No.51546384]

>>51546367
But what does decentralized energy have to do with DeFi?

[Anonymous No.51546420]

>>51546384
unrelated to the actual potential we could reach if TradFi and DeFi were merged but it is still one of the pros. The reason we dont have sufficient responses to the energy crises is because we dont have enough funding. This could change that

[Anonymous No.51546471]

>>51546244
Traditional and decentralized finance coming together would be a bigger win for the cryptospace in my opinion.

[Anonymous No.51546482]

>>51546244
DeFi and TradFi working together is inevitable, pajeet. TradFi banks know that the crypto sector is a huge disruptor in their operating environment, But there's also a lot of opportunities, that's why most banks now have a separate sector for crypto and digital currencies.

[Anonymous No.51546491]

>>51546420
So your point is if TradFi and DeFi exist together, capital inflow would be sufficient to fund anything?

[Anonymous No.51546512]

>>51546471
I feel like that DeFi has more advantages over TradFi, especially in providing access for underbanked populations and quicker settlement for its user.

>>51546482
This is true. They need to adapt to consumer demands too.

[Anonymous No.51546514]

>>51546482
Do you think DeFi and TradFi would work together without regulations?

[Anonymous No.51546547]

>>51546512
That's actually correct. But TradFi has got more capital than DeFi. If truely we want DeFi to grow to its potential, TradFi definitely has a role to play.

[Anonymous No.51546570]

>>51546491
It might be a step forward.
>>51546512
Also innovation is much more fast paced in defi, much more efficiency, lower cost cross-border payments and shit like that.

[Anonymous No.51546575]

>>51546514
I think regulation will definitely take its place in DeFi space and traditional finance can come in. Let's watch and see

[Anonymous No.51546603]

>>51546512
>>51546547

Let's not forget that DeFI faces many hurdles when it comes to consumer protection too

[Anonymous No.51546605]

>>51546570
The innovative solutions, efficiency, lower cost cross border payment, decentralized nature makes DeFi more appealing. But, both can work together.

[Anonymous No.51546620]

>>51546514
No, we'll definitely see more regulation in crypto

>>51546547
That is correct

>>51546575
How far from this are we

>>51546603
I agree
>>51546605
Yes, that's the point of this thread. To see how they can both advantage from each other

[Anonymous No.51546623]

>>51546603
DeFi has got a serious issue with security. I guess this is where both TradFi and DeFi working together would compensate for one weakness.

[Anonymous No.51546667]

>>51546514
Absolutely not.We're going to see more of KYC procedures and other regulatory requirements, kek

[Anonymous No.51546690]

>>51546620
I believe most of your points are valid. Regulation is definitely going to happen and traditional institution would come into DeFi.

[Anonymous No.51546721]

>>51546667
This would be interesting to see and learn about. Any project working on this already?

[Anonymous No.51546742]

>>51546623
Especially with all these recent hacks
>>51546667
Not to forget AML
>>51546690
Yeah
>>51546721
Quite a few actually

[Anonymous No.51546841]

>>51546742
What's the difference between KYC and AML, explain it in newfag terms.

[Anonymous No.51546917]

>>51546842
AMLis basically anti-money laundering. It's the steps that financial institutions take to prevent criminals from depositing or transfering funds that came from illicit activity.
KYCis basically Know Your Customer. It's the that a company does to make sure that their customers are who they say they are.

[Anonymous No.51547123]

>>51546742
Which companies, associations or projects are bridging the two, but effectively. Not some hackathon shit like ONE had..

[Anonymous No.51547262]

>>51547123
Oh didn't even know One did something similar. I guess Allianceblock seems to be doing justice bringing both together.

[Anonymous No.51547297]

>>51546917
I guess the regulatory and compliance layer of AB is making sure both AML and KYC are both met to ensure traditional finance easily access DeFi

[Anonymous No.51547301]

>>51547123
The hackathon wasnt so bad
lofty is doing so as well
>>51547262
Heard of this because of the Openwealth association

[Anonymous No.51547313]

>>51547262
What makes you think so? I only know about their DeFi terminal and cross chain bridge.

[Anonymous No.51547388]

>>51547313
I know of those products. The team is currently working on the TIDV that ensure we have totally control over the data we choose to share.

[Anonymous No.51547452]

>>51546690
Do you think more regulation would lead to DeFi losing their essence though

[Anonymous No.51547608]

>>51546367
Based. Coming together will bring more adoption than what we're seeing now. A lot of niggaz out there are scared of DeFi already. If DeFi and CeFi infuses, more people will feel relaxed. Integration of web2 into web3 is already in place and identities are managed that way so let's see this too

[Anonymous No.51548100]

>>51547452
The recent claims of SEC on ETH shows the idea of decentralization disgust them and the whole crypto industry should weary of what regulation they allow onboard.

[Anonymous No.51548319]

>>51546690
It's inevitable but we have to be cautious of giving the government too much power.

[Anonymous No.51548475]

>>51547452
best is to see how things pans out. Folks out there trust DeFi more than the govt

[Anonymous No.51548763]

>>51547123
>Not some hackathon shit like ONE had..

You literally have no idea of what a hackathon is cause if you do you won't be chatting shit.

[Anonymous No.51548789]

>>51548319
They have the power already. They want absolute power so they will be power drunk and controlling

[Anonymous No.51548881]

>>51548763
how do you expect them to know that. i hope they are left out of the few that will get access into web3 through the metahack program
Government know nothing about hackathon

[Anonymous No.51548986]

>>51548319
i wish they go sleep in a pool of their sheet

[Anonymous No.51549696]

>>51548319
True. But if DeFi must grow to its full potential, then regulations has to established in the DeFi space.

[Anonymous No.51550564]

>>51548881
The biz is getting filled by retards by the day and it's getting annoying, 4chan used to be for Chads.

>>51549696
Then the regulations must be in constructed in such a way that it doesn't alter what DeFi stands for.

[Anonymous No.51550645]

>>51546367
>Especially for mainstream adoption, DeFi needs to integrate a few of the regulatory practices that continue to keep TradFi stable. What does biz think about that
What needs to happen is easy usability and control. If mainstream adoption is ever going to happen, then wallet based solutions are vital to making it happen, especially the ones making it easy for everyone to create and manage multiple wallets from a single account.

[Anonymous No.51550720]

>>51546690
Regulations or not, users must be able to maintain full control over their rights, assets and identities. I guess that's one of the reasons why ORE is getting a lot of attention in web3 development.

[Anonymous No.51551395]

>>51546514
Can't even imagine TradFi without regulation

[Anonymous No.51551432]

>>51547608
>Integration of web2 into web3 is already in place and identities
Big ups to the protocols that are bridging web2.0 identities to web3.0