According to the Berlin-based nonprofit expert group dGen, four large accounting firms such as KPMG and Deloitte will be an important part of the decentralized financial ecosystem (DeFi) over the next ten years.
In his report entitled “Decentralized finance: use cases and risks for mass adoption”, dGen focuses on what they call “the hottest topic in the blockchain industry today”.
In accordance with dGen, while DeFi is still in its infancy, “could outperform FinTech’s current industry by providing a new financial services structure” for years to come.
The researchers support this thinking by making a number of bold predictions about DeFi.
In her opinion, DeFi will grow into a trillion-dollar industry and “deliver revenue to thousands of gamers, streamers, and influencers by 2030”. It is also accepted by European financial institutions that will switch to “DeFi-enabled savings and pension accounts”.
Four sizes could enter DeFi?
The expert group continues to argue Four large, well-known companies, KPMG, EY, Deloitte and PwC, “will be a crucial part of the DeFi ecosystem in the coming years.”
When drafting this, dGen co-founder Jake Stott he said Cointelegraph: “As more traditional financial institutions are exposed to the advantages of DeFi and its complexity, professional service companies will increasingly have to take part in these activities and have to examine them. The four large companies can specialize in DeFi audits and compliance to gain more market share. “
Stott is very excited about DeFi in general, since he added that “We can start to see a lot of interest from traditional people who are fed up with not earning percentage interest on their bank savings.”
On demand Stott told Cointelegraph about the sector’s main weaknesses:
“The biggest weaknesses of DeFi right now are the risk of losing all of your funds and the complexity of interacting with much of the DeFi ecosystem. Both are actively addressed and may not be as important in 12 months. “
Other reports of the boom in this sector
According to DeFi’s Q2 report released earlier this week by ConsenSys The growth of the sector was driven by the increasing popularity of yield farming and Bitcoin (BTC) tokenization protocols.
It should be noted that the report too He highlighted key security incidents targeting some DeFi platforms like Uniswap, Lendf.me, and Bancor, which have so far been stolen $ 26 million.