13 DeFi leading practices CeFi companies would be wise to emulate

cointelegraph.com:

While there are inherent strengths to be found in both centralized finance and decentralized finance companies, there are certain areas in which DeFi shines, including user empowerment, transparency and reach. While customers may be drawn to CeFi’s perceived security and strength advantages, in an increasingly digital, global economy, if CeFi companies can’t keep up with the user expectations being set by DeFi technologies and protocols, their advantages may come to count for less among younger users and markets (or even disappear altogether).

To avoid a slow slide into irrelevance — and to better serve their current users — DeFi companies should take a look at the aspects of CeFi consumers find most appealing. Below, 13 members of Cointelegraph Innovation Circle share a few of the leading DeFi practices CeFi companies would be wise to emulate. 

A trusted intermediary is required for CeFi transacting, which means that the rules and regulations can be changed. Conversely, DeFi rules and regulations are immutably inscribed on the blockchain. This means that there are no “favorites” in the DeFi protocol. No matter who you are, if you are insolvent, you will be liquidated according to the protocol, not according to the whims of parties with vested interests. – Lawrence Hutson, AdLunam Inc.

CeFi companies can learn from DeFi’s focus on financial inclusivity, which aims to provide access to financial services for unbanked and underbanked populations. By leveraging blockchain technology and reducing entry barriers, CeFi firms can create more inclusive products, reach untapped markets and contribute to global financial inclusion efforts. – Tomer Warschauer Nuni, Kryptomon

DeFi companies have made financial services accessible to