Fed Governor Waller: DeFi could profoundly affect global financial market trading

On 19 October, Federal Reserve Governor Waller spoke at the Vienna Symposium on Macroeconomics: Decentralised DeFi has attracted a great deal of attention over the past few years and could have a profound impact on global financial market transactions. Some believe that DeFi (decentralised finance) will replace traditional centralised finance, while others see it as simply extending a part of traditional finance. Despite the efficiency gains that DeFi (decentralised finance) may bring, the value of traditional financial intermediation and centralised financial markets remains significant.