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Watch: Will Banks Adapt to a DeFi Future? (youtube.com)
CoinDesk Contributor and Ernst & Young Principal Global Innovation leader Paul Brody discusses the future of the banking industry as decentralized finance (DeFi) continues to grow, drawing on historical comparisons such as how telephone companies adapted to the rise of smartphones and apps. Plus, a conversation about the highly anticipated Ethereum merge to proof-of-stake.

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    Francisco Gimeno - BC Analyst Interesting topic in this discussion. Historically with new inventions or technologies, there have been two sides, those who adapt, embrace and strive, and those who believe everything new is a fad and theirs was the only way of doing things. Even before DeFi there are examples on how tradicional banking has adapted to new things, like when the digital money platforms in Africa grew so much that Banks feared their customers would just leave them, they had to join those platforms, create networks and even invent new products. Defi, which is not a fad at all, and in constant iteration and development is going to be the next shock for those in the banking and financial system who don't understand the urgency to adapt, embrace in order to be successful.