Ah yes; So starts the live version of the Three Doors Down song, in case you travel on Delta. A great tune, heading down the runway. Anyway, I digress.
In case you have not heard of DeFi, (Decentralized Finance) it is fast becoming a silent, but booming concept. Simply equate blockchain with DeFi and that is a quick example of what I am describing.
No, not Bitcoin, but Ether, (2nd largest cryptocurrency) building the architecture of the future and the Fed and other central banks are scared sh**less, because it’s primary purpose is to speed up financial transactions vs. what you currently know. Add in the fact central banks have no control over it whatsoever is all you need to know.
You see, central banks think they know it all. Guess what? In most instances, they don’t have a clue, as they control the only game in town we know. Wait.
Just like the emergence of the internet, DeFi will continue to gain more prominence and CONTROL. DeFi will accelerate payment resolution, outside of traditional methods and that is a good thing. Ask yourself, in the age of electronic trading, why does it take T+2, to settle a trade and more importantly, why does the Fed and Treasury talk about regulating the crypto market..? Hmmm, I wonder why.