Existing DeFi protocols are not designed for financial services. It thus needs safeguards such as identity solutions to enable trust and compliance, says the report.
Building full-scale financial services with institutional decentralised finance (Institutional DeFi) is able to bring financial institutions substantial cost savings if they have a participation strategy ready to capture its value, according to the “DeFi – The Next Generation of Finance?” report.
This is as code dramatically reduces middle and back-office operations across firms and intermediaries, the joint report by Oliver Wyman Forum, DBS, Onyx by JP Morgan and SBI Digital Asset Holdings.
