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How decentralized finance will transform business financial services – especially for SMEs

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How decentralized finance will transform business financial services – especially for SMEs

World Economic Forum,

5 мин на чтение
3 основных идей
Аудио и текст

Что внутри?

Small businesses are integrating decentralized finance innovations into their daily operations.

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Editorial Rating

7

Qualities

  • Overview
  • Background

Recommendation

Decentralized finance (DeFi), a blockchain transaction framework, is disrupting traditional commercial banking. Small and medium-sized enterprises (SMEs), especially those in the emerging markets, are embracing the technology – perhaps not surprisingly, since studies indicate that SMEs around the world face an overall capital shortfall of some $5 trillion. In this informative article, expert Rebecca Liao deftly explains how DeFi could help bridge this gap. Business owners, financial executives and crypto stakeholders will find valuable intelligence here on the role of DeFi in the evolution of financial services.

Summary

Decentralized finance (DeFi) is gaining ground with small and medium-sized enterprises (SMEs) in developing economies.

Blockchain innovation, in the form of DeFi, is revolutionizing the financial services industry and creating opportunities to serve the unbanked, both individuals and businesses. DeFi’s most notable disruption is in the sphere of payments, as cryptocurrencies assume a larger share of transaction volumes. Businesses typically use cryptocurrencies like bitcoin and ether; however, stablecoins – whose fixed exchange with a fiat currency, like the US dollar, creates opportunities for loans and other services – are gaining traction as well.

Because the conventional banking system does...

About the Author

Rebecca Liao is a writer and co-founder of Skuchain, a blockchain platform.

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