Is DeFi better than than TradFi?

Asked 2 years ago

Hi all. So I know DeFi is the new kid on the block, but does that mean that it's better than TradFi?

Rex Carter

Friday, April 22, 2022

DeFi is better than TradFi as its underlying technology – blockchain – offers an easier, near-instant, and more efficient way of executing secure transactions. This basically implies providing an updated and incorruptible financial system to users. A good example is how DeFi minimizes the huge transactional fees TradFi institutions like banks impose on their customers. This enables people to enjoy actual ownership of their assets in a permissionless and straightforward manner. If you want to send money to a friend or service provider on another continent, the process is fast and straightforward, depicting a stark contrast to TradFi.

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