Nitin Guar, an IBM executive, shared in an interview with Cointelegraph that the firm is giving banks assistance to capitalize on Decentralized finance.
Banks must acknowledge and accept Defi space, or their whole business model could be disorganized eventually, stated Guar.
Ntin believes that the set of regulatory challenges that decentralized finance introduces to Banks can help customers to navigate. Banks are, however, in the exploratory phase and are fixed at the intersection between true Defi and digitizing traditional securities, talking about Decentralized Finance.
Guar also agreed that banks need to take another look at the approach to thrive in the space. Banks need to accept the global nature of chain networks because that is when the actual value will be opened to them, which simply means that creating some Decentralized Finance products is not sufficient.
Source: Cointelegraph
