Experts : Defi Thrives Where Banks Falter, Fragmentation a Hurdle
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The rise of decentralized finance is particularly strong in regions with weak banking systems, such as Sub-Saharan Africa, Latin America, and Eastern Europe.
Experts believe this is because defi offers financial tools and services traditionally unavailable to people in these areas. Experts point to the user-friendliness and security of defi compared to traditional financial institutions in these regions.
However, challenges like complex onboarding processes, regulations, and hacking threats hinder widespread adoption.