Fed Governor Waller: DeFi could profoundly affect financial market trading

Fed Governor Waller, expressing his views on decentralised finance at the Vienna Macroeconomics Symposium organised by the Institute for Advanced Study in Vienna, Austria, said that DeFi related advances have the potential to have a profound impact on financial market transactions, and that these advances can improve efficiency, arguably over the centuries in terms of the significant value that financial intermediaries and centralised financial markets have brought. Waller added that centralised finance clearly brings benefits to people, but clearly also brings some costs.