ING:DeFi is More Disruptive to Banks Than Bitcoin

“DeFi is more disruptive to banks than Bitcoin, and DeFi is an indispensable part of ING’s vision for digital assets,” said Herve Francois , head of blockchain at ING on May 6. Previously, ING Bank released a paper titled “Lessons Learned from Decentralized Finance”, in which ING pointed out: Centralized and decentralized financial services cooperation can achieve the best of both worlds. The use of smart contracts in DeFi greatly reduces counterparty risk. Financial institutions can help DeFi process AML and KYC requirements, etc.

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