During a live report that took place on the 25th of September, Da Hongfei, the CEO of Neo, stated that Defi hype keeps increasing and it is just the beginning.
According to Da, it took Defi a few years to build a system that traditional finance couldn't perfect for several years. He furthered that Decentralized finance keeps trying to improve with different financial products and services.
Decentralized finance has improved the financial system in several ways and will sooner or later have a significant effect on economic life, says Da.
He added that people would move towards DeFi services in the future and ignore the banks. Da concluded it is happening already, using the Chinese dealings with Alipay and WeChat instead of banks as an illustration.
