Top crypto analyst explains why decentralised finance will completely replace the traditional financial system
Decentralized finance (DeFi) has the ability to shake up the old banking system, according to a well-known crypto expert.
The presenter of InvestAnswers, Benjamin Cowen, argues that DeFi is still as revolutionary as many predicted it to be in 2020.
“DeFi is a great interest of mine. Now that I’m a tradFi person, I realise the possibilities in this concept. DApps (decentralised apps) are revolutionising everything from the payment sector to borrowing, lending, finance, and derivatives. I can see what’s truly occurring live. Everything will be linked together in the future. Tokenization will be used for everything.
The researcher predicts that the decentralised financial sector’s present worth of $71.59 billion, up from just under $30 billion in 2020, will continue to rise.
“DeFi is going to be massive. An estimated $40 trillion market is being targeted. Things like Ethereum and Solana, despite their challenges, delays, and other issues, have convinced me that they’re on the right track.
Many more will be able to disrupt the conventional banks, credit cards, borrowers, lenders, and the capital markets in the future, and I believe this will be possible. There will be a lot of chaos. Just when a tipping point will be reached is a mystery to us.
The transaction volumes on Ethereum and Solana today are amazing, but you can really use basic old valuation methodologies to assess things like Ethereum, and per them, Ethereum is actually undervalued today,”