IBM corporation can provide banks with some information on Defi
During his interview to Cointelegraph interview, the head of IBM financial services and digital assets, Nitin Gaur, spoke on the aspects of companies help to financial organizations to make DeFi movement capitalization.
As the author of the book Blockchain for Business Gaur stresses the importance of banks understanding and covering DeFi space in order to prevent the entire business model disruption:
DeFi is number of regulatory issues to financial institutions so IBM assumes it can help clients to understand all its tricks. Though most of the banks just research this system’s peculiarities and try to understand the difference between true decentralization of finances and simple digitalization of traditional assets. Though, Gaur is sure about the future “of the large banks, starting with investment banks.”
New banking system approach is required
The book author is sure that the core of banks success in this sphere is the redevelopment of traditional bank approach. So the creation of few DeFi products will not be enough. The main thing is not study all advantages and options of blockchain technologies.
As for Gaur the main task of IBM is to help banks to become the part of dynamic international marketplace with the help of Defi, introduce innovative technologies into their products and make them more user-friendly.
Despite the fact that none knows when large-scale banks will start using DeFi space on a full scale basis Gaur named the appointment of new digital assets department head in Goldman Sachs as a good sign.