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DAOs can provide several services for banks, including asset management, compliance and lending.
Banks today are already using blockchain technology for things like payment, clearing and settlement, trade finance, identity and syndicated loans, according to The Financial Times. However, there are still many unexplored areas in banking where a DAO-based model might be useful:
Fundraising
In the crypto world, initial coin offerings (ICOs) are breaking down the barrier between access to capital and traditional services like capital-raising firms. Likewise, banks can use DAOs to raise capital from a wider pool of investors via ICOs.
Loans and Credit
Using decentralized technology in banking can eliminate the need for gatekeepers in the lending industry. DAOs provide more secure ways for people to borrow money, not to mention lower interest rates and better terms.
Trade Finance
DAOs could also streamline trade finance by digitizing paper-based processes and automating manual tasks....
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