• DeFi should complement TradFi rather than attack it, according to Ava Labs CEO Emin Gun Sirer.
• DeFi could provide financial services that TradFi does not, such as democratized access to platforms.
• Sirer discussed the future of DeFi and TradFi at the World Economic Forum in Davos, Switzerland.
At the World Economic Forum in Davos, Switzerland, Emin Gun Sirer, the co-founder and CEO of Ava Labs, discussed the future of decentralized finance (DeFi) and traditional finance (TradFi) as two industries with merging value systems. Sirer spoke on DeFi’s role in TradFi ecosystems and what users can expect in a future where both are on center stage.
Sirer stressed that DeFi is not meant to attack or be an enemy to TradFi, but rather complement it, at least initially. He highlighted that DeFi could offer services to people that TradFi doesn’t, especially when it comes to democratized access to financial services and platforms. He noted that DeFi wants to provide people with the opportunity to participate in the financial industry, regardless of their economic status, and that this is something TradFi has yet to achieve.
Sirer also spoke on the importance of transitioning from a centralized to a decentralized financial model, and the advantages this could bring. He stated that DeFi will be able to provide more transparent, secure, and efficient financial services than what is currently available in the traditional finance world. He believes that this will lead to more trust in the financial system, which is essential for its success.
The Ava Labs CEO believes that the future of DeFi and TradFi is one of collaboration, rather than competition. He believes that with the right infrastructure and regulations in place, the two industries can work together to bring the best of both worlds to the table. This could include both DeFi and TradFi offering the same services, but with varying levels of access and security.
Overall, Sirer is optimistic about the possibilities that DeFi and TradFi can bring to the financial industry. He believes that the two industries have the potential to revolutionize the way people access and use financial services, and that the future of finance is one of cooperation and collaboration.