The issues plaguing the financial world―whether centralized finance, insurance, lending or other assets — all come back to human error. For instance, why can’t a dispensary put cash in a bank? Because of bad human judgment. These rules and regulations make zero practical sense.
The blockchain ecosystem takes the human element out of the equation. Now the technology governs because Satoshi Nakamoto was smart enough to realize that someone has to remove people from the decision process.
In decentralized finance, I don’t need approval from a bank if I want to borrow or lend money.
I just need to meet certain, automated criteria. There’s no prejudice. There’s no judgment against somebody because of age or some fictitious scoring system that can be gamed. It doesn’t matter what race, gender, or sexual persuasion you are. If you meet the criteria in DeFi, the transaction will be completed. If not, it won’t.
Satoshi was smart enough to see the need to remove people from th
Źródło: https://cryptoslate.com/banks-wont-exist-in-ten-years-unless-they-change-their-business-model/
