UK Billionaire Owner of a Newspaper says DeFi Technology is Revolutionary

News • 2020/10/17 • by

UK newspaper owner Alexander Lebedev speaks on the possibilities of cryptocurrency and smart contracts to transform finance.

The former banker says that blockchain tech will break down the oligopoly of the banking industry. He affirms that blockchain technology and smart contracts are going to render the finance sector less important. However, he believes that the swift income of liquidity leads to the massive growth of DeFi generally.

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Alex believes the technologies fixed tend to create great opportunities for refurbishing the global financial system.
The billionaire said smart contracts offers clients access to financial assistance.
He also disclosed how he invested $100,000 into a farming protocol as a trial and was surprised by the outcome.
Alex is currently planning on commencing an independent decentralized financial system.

Many people are unbanked due to their poor access to financial assistance and many more. Alex believes the world is at the point of a real revolution in the international financial system.

Source; [Cointelegraph]Chttps://cointelegraph.com/news/billionaire-uk-newspaper-owner-calls-defi-technology-revolutionary).

Comments (4)

Guest

visiblemoney

6 years ago

Alex is totally right that Oligopoly in the financial industry shall be nipped in the board with the increasing Defi projects deployed on DLT via smart contracts. It is a good development to have a real pace setter that can put banks on their toes.

godgrace1

6 years ago

i side with Alex a lot of people are unbanked and i believe DEFI is a revolutionary way of banking those unbanked sectors in the coming years

lilianchiamaka

6 years ago

The Blockchain as a form of Distributed Ledger Technology (DLT) has the potential to transform well-established financial institutions and bring lower costs, faster execution of transactions, improved transparency, auditability of operations, verifiable financial transaction with ease and other benefits. So I strongly affirm with Alexander Lebedev.

exodusab

6 years ago

the billionaire predicted blockchain tech will disrupt what he described as a parasitic global banking oligopoly, asserting that “blockchain technologies and smart contracts will make it unnecessary to employ the vast majority of people in the financial sector.”