The infamous collapse of FTX and Silicon Valley Bank brought to light the myth that one's money was secure by opting for the traditional route. The underlying reality was and remains that money is safe everywhere and nowhere; it depends on the technology utilized for safekeeping.
And the latest candidate to provide us with a sense of security when it comes to one's hard-earned money is the Decentralized Finance technology, popularly known as DeFi. And yes, the industry does feel that DeFi is the answer to avoid any potential banking and cryptocurrency trading crisis.
The world of web3 and Metaverse is evolving, and India is just getting started in it. During a seven-member panel discussion on "Defi 2.0: What impact DeFi technology is making and how companies are embarking on the DeFi 2.0" at Entrepreneur India's Web 3 Summit in Bangalore, one belief echoed by the experts was DeFi is the future of finance.
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