IBM executives: It is important for banks to understand and accept DeFi, and IBM intends to help

According to a report from Cointelegraph, Nitin Gaur, director of financial services and digital assets at technology giant IBM, said, “It is very important for banks to understand and accept DeFi, which may affect their entire business model. DeFi poses a series of regulatory challenges for financial institutions. Financial institutions are still in the exploratory stage when it comes to DeFi, and they are at the crossroads of truly decentralized finance and only digital reform of traditional securities.” Gaur expects large banks to step into this area next. In addition, it acknowledged that if banks want to succeed in this field, it is not enough to create DeFi products. Only by working to realize the globalization of the blockchain network will the real value be released. Finally, it pointed out that IBM hopes to help connect banks, and integration into the DeFi field requires not only to provide innovative products, but also to connect to the global market.