Is there any hope for DeFi in the banking industry?

FYI I am not DeFi pro like you folks here. So my question may look dumb for you, so please bare with me.

Where I live if you want to take loan from bank it takes lot of time to get a loan approved and it involve lots of forms, fees over time just to apply for the loan. And more than anything they deduct their legal and travelling fees from loan offered and we are supposed to repay the full amount.

I was hopeful about DeFi will help to improve these kinds of banking problems in general, but with increased laws and regulations towards blockchains in countries like US, global warming.

Is there any way to overcome this hurdles, specially global warming and make DeFi successful in banking industry?

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8 thoughts on “Is there any hope for DeFi in the banking industry?”

  1. The answer is not less regulation. TradFi must accept and integrate with for us to be able to use DeFi for everyday loans. If regulators view DeFi as a shady area that they don’t understand they’ll put barriers to adoption and use.

    You can already find a bunch of people financing their homes with DeFi loans if you do a quick search in this subreddit. This is not possible in every country/state yet but we’re slowly moving forward in that direction.

  2. Global warming? You mean bitcoin mining energy problem? You do understand that the banking infrastructure needs ten times more energy right?

    Anyways, credit in traditional banking is just a dream. It’s doesn’t really exit. You can leverage debt, get a loan, then declare bankruptcy like it never happened. Lol

    Yeah the whole point of DeFi is to remove the intermediary. It’s too energy/time consuming to have them there, as most intermediaries exist to leech off whichever party in the transaction (entrepreneurs, investors, etc)

    CeFi and DeFi will coexist, I don’t think one will rule the other

  3. Tbh banks have already started to join hands with the defi!
    For instance a bank called EQI partnered with UnidoEP to provide traditional banking experience in the defi space to manage their assets and investment plans too.
    What do you think about this?
    This is for real if you wouldn’t believe you can google it😁😁🙏

  4. FYI there’s already plenty of Banks in the Hedera Governing Council which have shown interest in implementing CBDC on the chain for enterprise-grade use.

    I believe the Hedera DLT network will be a huge success, it’s also worth mentioning the HBAR Foundation has been spending Millions this past couple months on infrastructure, Dapps and DeFi protocols development.

  5. For you, will $ civilization be able to create a decentralized fund capable of obtaining up to 1% daily?

  6. EQIBank already offers Defi service to its customers through Unido Insto; IMO banks cannot dream of offering the high APY that Defi offers, and since they have been in the system for a long time, instead of fading away, they are trying to integrate with Defi. And speaking of loans, Defi solve that with smart contracts, no paper works and its faster and easier

  7. These problems of traditional institutions aren’t affecting individuals alone, SMEs are also feeling the brunt and that’s why they now seek alternative solution to their problems which sometimes is Unido, an enterprise DeFi. Suffice to say also that Unido already has EQIBANK that is using one of its products Unido insto to carry out it’s daily activities.

  8. I think so, DeFi is already a real threat to traditional finance. Because they are a lot of good DeFi gems out here like AAVE and AXL, that have integrated lending and borrowing protocols into their platform and it’s more approachable, compared to that of traditional finance.


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