Hottest in 2020 - DeFi
Central authorities still largely dominate the traditional financial system. The role of these central authorities is to regulate the system, and act as middlemen between various parties. The most common example of this is that of a bank.
Banks have several urgent tasks, and some examples are to lend funds, enable transactions between people as well as make it possible for people to invest. These are essential functions in the economy of today, and banks are, therefore, hard to replace.
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