DeFi can complement traditional finance systems: Federal Reserve

Federal Reserve Governor Christopher Waller has just told a workshop on Friday that decentralized finance (DeFi) has the potential to complement traditional financial systems.

Speaking at the Institute of Advanced Studies’ Vienna Macroeconomics Workshop, Waller cited some DeFi aspects like technology as critical they can affect and support traditional financial services.

The apex bank boss maintained that while some services coming out of DeFi cannot be provided  in centralized finance,  the technological innovations coming out of DeFi “are largely a complimentary to centralized finance.”

“Advances associated with DeFi have the potential to profoundly affect financial market trading,” said Waller.

This is a developing story