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IPFS News Link • Bank of International Settlements

BIS Calls Rise Of DeFi "A Decentralization Illusion",Fearmongers"Destabilization

• https://www.zerohedge.com by Tyler Durden

The Epoch Times' Nichaols Dolinger details that in a section titled "DeFi risks and the decentralisation illusion," the BIS addresses the new movement, which seeks to overcome reliance on the traditional financial institutions that serve as mediators in most financial transactions.

"There is a 'decentralisation illusion' in DeFi since the need for governance makes some level of centralisation inevitable and structural aspects of the system lead to a concentration of power," reads the abstract of the section.

"If DeFi were to become widespread, its vulnerabilities might undermine financial stability."


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