Toxic investors: financial brokers, shine your shoes! DeFi will replace you in 4 years

Kevin O'Leary (Kevin O'Leary), a Canadian entrepreneur and investor in the US reality show "Shark Tank," said recent improvements in financial management technology (DeFi) may render the role of the unused financial impact, and they can be. count on shiny shoes for your lifestyle.

O'Leary is a cryptocurrency trader who has criticized Bitcoin in the past, but has since grown into a cryptocurrency bull. Now there is more and more interest in DeFi or Decentralized Finance, which uses crypto devices to create unreliable financial products.

The trader said that one of the reasons he liked DeFi was that he was tired of being "matured" by financial intermediaries such as forex brokers.

“The shift to securities and cryptocurrencies is all about cutting out these middlemen. We will do that in the next three or four years. They will have to find other jobs like shoes,” he said.

DeFi supporters say the technology can change the currency because it eliminates the need for middlemen and middle managers, as well as the costs.

O'Leary, for example, believes that DeFi will make financial transactions such as cross-border shopping easier than DeFi allows the use of fixed funds and other cryptocurrencies for trading without paying an exchange rate.

O'Leary made money in the computer software industry and invested in a company called WonderFi. The company plans to announce what it calls a simple platform where people can trade their assets and benefit from the DeFi arena.

But admins were more concerned about DeFi. Dan Berkovitz, who works with the Future Commodity Exchange (CFTC), said in June that he believes most of DeFi's activity may be illegal and that intermediaries are important for financial security.

Decentralized finance also accounts for a certain percentage of fraud and hacking. Last week, hackers hacked the DeFi platform's Poly network to steal more than $ 600 million in crypto assets, but then recovered that asset.