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How DeFi is reshaping traditional finance system?

The current financial sector is already in a way to adopt digital technologies in its operations. In general, the Financial Sector is a system that includes everything related to money, ie., from Insurance to banking and payments. The service of these financial industry's services is categorized into three types as Personal, Consumer, and Corporate.

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How DeFi is reshaping traditional finance system?

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  1. How DeFi Reshaping Financial System? www.bitdeal.net

  2. What is Traditional Finance? The Global Financial Sector is expected to grow $26.5Trillion by 2022 with a CAGR of 6%. This shows that the Financial Industry is an unfading and ever-growing sector of the globe. The current financial sector is already in a way to adopt digital technologies in its operations. In general, the Financial Sector is a system that includes everything related to money, ie., from Insurance to banking and payments. The service of these financial industry's services is categorized into three types as Personal, Consumer, and Corporate.

  3. Problems In Traditional Finance As mentioned above the current system is regulated by regulatory bodies, which means it involves third parties. The involvement of untrustable third parties in financial transactions results in a lack of trust. It also leads to miscellaneous transfer or transaction in some cases. The current financial system involves many steps to complete even for acquiring loans or funds, which is time-consuming and tedious.

  4. DeFi - The New Financial System A new decentralized financial system that is being introduced to impede the issues in the current traditional system. This Decentralized Finance DeFi leveraging the distributed ledger technology, blockchain can make a better environment for financial services of all Fintech industries. This DeFi, growing trend in the Financial Industry will have game-changing impacts on global Finance in near future, that could help the fintech industry to find out the answer for How DeFi is eating traditional finance?

  5. How DeFi is Reinventing the Global Finance? It is said that the Blockchain Technology, the underlying technology of DeFi is already familiar with 24% of the world's people. And by the end of 2024, it is expected that this blockchain technology would hit $20 billion. The peer to peer lending was worth $43.16B in 2018 and it is expected to reach $567.3B at the end of 2026 with the CAGR 26.6% which is possible by the utilization of DeFi and blockchain technology in the Financial sector.

  6. How DeFi is Reinventing the Global Finance? Here let us look at some of the aspects of DeFi that are reinventing global finance. Borderless Immutability No Central Authority Financial Inclusion Democratic Banking System Reduced Cost

  7. How DeFi is Reinventing the Global Finance? Completely Permissionless Interoperability Liquidity Lower trading fees Reducing risks Highly Programmable Ultra Transparency

  8. How DeFi Is Reinventing The World's Financial System Know more here

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