New research from the U.S. Federal Reserve offers two scenarios that could lead to the widespread adoption of crypto and decentalized finance (DeFi).
In a new report, the Fed says there are two paths forward – one where blockchain finance intertwines with traditional finance, and one where they are separate but parallel.
“Broadly speaking, there are two conceptual scenarios (not necessarily mutually exclusive) that could lead to a breakthrough in which blockchain finance may become an important provider of the services currently provided by off-chain financial markets and institutions.
In one scenario, these blockchain services gain greater interoperability with the existing payments and financial system (for example, evolving to link real assets to public blockchains).
A second scenario may see crypto assets evolving to become a separate, parallel financial system that provides services for the real economy.”
According to the Fed study, financial stability risks loom in either...
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