The hype around DeFi is not fading away and is only just beginning, said Neo founder Da Hongfei, during a live stream on China’s Hub .
Da mentioned DeFi has made a process in just a few years that traditional finance took couples of centuries to improve. DeFi projects are now researching all sorts of financial products and services. He mentioned the following aspect as well:
“Lending and borrowing, decentralized exchanges, insurance and all kinds of derivatives are on the rise in DeFi. The initial stage DeFi infrastructure has a solid good start, and now it is time to see more and more applications to be built and innovated on DeFi.”
Based on Da statement, DeFi has introduced various new options in financial sphere, such as the incorporation of new asset kind permitting cash access 24\7. DeFi, will significantly influence future economic life. He thinks people will not need banks in the future in case if turned turn towards DeFi services.
“Chinese people have done this more or less, probably dealing with banks, dealing with Alipay and WeChat, at least doing this kind of financial behavior without going to the bank.”
Da, and Binance director He Yi, mentioned that Neo and Binance are actively researching the options of DeFi applications.