When will we see a DeFi Bank?

How does DeFi compare to traditional Banking?

DeFi platforms are quickly becoming one of the most used Dapps in the blockchain ecosystem. The more people discover alternative investment strategies the more popular the DeFi movement will become. The potential for decentralised finance to compete against traditional banks is immense. There are many services that can be disrupted. Hopefully In the future you won’t need a bank to act as the intermediary for all your investment needs. Alternatives are coming, especially for the unbanked.

Facebook and Libra will be facing an uphill battle with regulators as it aims to create its own cryptocurrency to be used within a closed network with other large corporations as participants. I have no personal view that they should fail, in fact the creation of Libra legitimises the DeFi concept as a viable alternative to traditional banking. The biggest organisations in the world are now starting to realise the importance that Cryptocurrency and DeFi will play in the world.

Facebook was the first of the FAANG’s to jump on the Crypto bandwagon but Apple already has Apple Pay. How long before they see that it makes sense to integrate Blockchain concepts on their payments platform?