The TradFi mindset is holding crypto back
The constantly evolving ecosystem of decentralized finance (DeFi) has emerged as a groundbreaking and experimental alternative to traditional finance (TradFi), demonstrating immense potential while simultaneously facing a myriad of challenges.
Paradoxically, some of the very behaviors that have long characterized TradFi — the prioritization of short-term profits, and extractive practices that benefit a few at the expense of the majority — have seeped into the world of DeFi, hampering the progress of this revolutionary technology towards its initial goals.
The detrimental impacts of TradFi are most evident in their consequences on people, through wealth inequality and on the planet by contributing to climate change. In our industry, we’ve experienced this fallout through catastrophic company failures, malpractice by centralized actors and outright scams.
The crypto space must realign its values and redirect its focus towards democratizing access to financial tools and fostering financial inclusivity, as it was conceived to do.
The key to unlocking this transformation and propelling the industry forward lies in embracing the regenerative economy.
What is ReFi?
Regenerative Finance (ReFi) leverages…
