Sid Powell states in an interview that traditional DeFi is “dead,” and the future will be determined by on-chain capital markets. He believes that as institutions gradually move trading, clearing, and settlement on-chain, the traditional model relying on Wall Street intermediaries and infrastructure will be squeezed out.
“On-chain markets will swallow Wall Street,” Powell said. The early DeFi model, which focused on speculation and simple lending, will be replaced by more institutionalized, institution-oriented on-chain financial infrastructure.
In the future, capital-market activities will occur directly on public or permissioned blockchains. These activities will occur without intermediaries such as traditional securities firms and investment banks before settlement.
Leave a Reply