{"id":540428,"date":"2023-01-18T15:00:00","date_gmt":"2023-01-18T12:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/defi-should-complement-tradfi-not-attack-it-ava-labs-ceo-davos-2023\/"},"modified":"2023-01-18T15:00:00","modified_gmt":"2023-01-18T12:00:00","slug":"defi-should-complement-tradfi-not-attack-it-ava-labs-ceo-davos-2023","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/defi-should-complement-tradfi-not-attack-it-ava-labs-ceo-davos-2023\/","title":{"rendered":"# DeFi should complement TradFi, not attack it: Ava Labs CEO | Davos 2023"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26bb5336fec\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26bb5336fec\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/defi-should-complement-tradfi-not-attack-it-ava-labs-ceo-davos-2023\/#%E2%80%9D_DeFi_should_complement_TradFi_not_attack_it_Ava_Labs_CEO_Davos_2023_%E2%80%9C\" >&#8221; DeFi should complement TradFi, not attack it: Ava Labs CEO | Davos 2023 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_DeFi_should_complement_TradFi_not_attack_it_Ava_Labs_CEO_Davos_2023_%E2%80%9C\"><\/span>&#8221; DeFi should complement TradFi, not attack it: Ava Labs CEO | Davos 2023 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNmU2Y2E0YTEtNjFjNy00MWRlLWIwN2ItZGQ5YmJlOGRjZGI5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Decentralized finance (DeFi) is on its way from becoming a small niche within the financial industry to something traditional finance (TradFi) is trying to incorporate.\u00a0<\/p>\n<p>In an interview with Cointelegraph at the World Economic Forum (WEF) in Davos, Switzerland, Emin Gun Sirer, the co-founder and CEO of Ava Labs, spoke on DeFi\u2019s role in TradFi ecosystems and what users can expect in a future where both are on center stage.\u00a0<\/p>\n<p>Sirer stressed that the purpose of DeFi is not to attack or be an enemy to TradFi, but rather complement it, at least initially.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u201cI don\u2019t think DeFi is meant to attack TradFi. DeFi is supposed to complement TradFi, at least initially,&#8221; argues <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/avalabsofficial?ref_src=twsrc%5Etfw\">@avalabsofficial<\/a>&#8216;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/el33th4xor?ref_src=twsrc%5Etfw\">@el33th4xor<\/a> when asked by Cointelegraph&#8217;s reporter <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gazza_jenks?ref_src=twsrc%5Etfw\">@gazza_jenks<\/a> at the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/wef?ref_src=twsrc%5Etfw\">@wef<\/a> in Davos. <\/p>\n<p>Do you agree about his thoughts on DeFi&#8217;s purpose? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CTWEF23?src=hash&amp;ref_src=twsrc%5Etfw\">#CTWEF23<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/BH2VPV2po2\">pic.twitter.com\/BH2VPV2po2<\/a><\/p>\n<p>\u2014 Cointelegraph (@Cointelegraph) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Cointelegraph\/status\/1615343695951429638?ref_src=twsrc%5Etfw\">January 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The Ava Labs co-founder highlighted that DeFi could offer services to people that TradFi doesn\u2019t, especially when it comes to democratized access to financial services and platforms.\u00a0<\/p>\n<p>Sirer believes that the two will come together. However, this is a developing mindset in the DeFi space, as first-generation DeFi systems presented an alternative to TradFi.<\/p>\n<p>According to Sirer, this is because these two financial worlds initially had different values, which are now merging. <\/p>\n<blockquote><p>\u201cNow TradFi is understanding that, yes, [DeFi] has the transparency that we clamor, [they] can do safety tests on their systems because of the audit-ability of the systems they built, that we cannot do.\u201d<\/p><\/blockquote>\n<p>A recent statement from an executive at Ripple also revealed an expectant attitude toward more TradFi adoption in 2023. This is also something industry insiders are looking at in terms of acquisitions of crypto companies by larger, legacy companies in the TradFi space.\u00a0<\/p>\n<p>From the DeFi side, Sirer says that those who will come out as visionaries are going to be the chains that absorb this growth.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Trouble brewing for the US: Two-thirds of TradFi expects a 2023 recession<\/em><\/strong><\/p>\n<p>Despite the rosy forecast for a DeFi-TradFi merger, the space has seen a turbulent year. DeFi projects saw the highest number of attacks and exploits in 2022, with more projected in 2023. <\/p>\n<p>After the FTX scandal, many outside the industry grew increasingly skeptical of what decentralized financial technologies could offer. <\/p>\n<p>Sirer says that post-FTX, everyone needs to be reminded that this industry is here to stay, as well as this new asset class. <\/p>\n<blockquote><p>\u201cThere are many of us who dedicated our careers to scientific development in the blockchain space. We undertook all of the steps necessary to solve the scalability problems to solve the governance problems, the compliance problems that the space faced.\u201d<\/p><\/blockquote>\n<p>DeFi is even being reimagined through an institutional lens\u00a0to benefit larger corporations in mainstream industries, including TradFi banks.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/defi-should-complement-tradfi-not-attack-it-ava-labs-ceo-davos-2023\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; DeFi should complement TradFi, not attack it: Ava Labs CEO | Davos 2023 &#8220; Decentralized finance (DeFi) is on its way from becoming a small niche within the financial industry to something traditional finance (TradFi) is trying to incorporate.\u00a0 In an interview with Cointelegraph at the World Economic Forum (WEF) in Davos, Switzerland, Emin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/6e6ca4a1-61c7-41de-b07b-dd9bbe8dcdb9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[120396,74894,74868,74355],"class_list":["post-540428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-avalanche","tag-blockchain","tag-defi","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=540428"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540429"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}