Friday, March 5, 2021

The banks behind me are in TROUBLE.

Hong Kong is a key Asian financial hub. It is an Asian base for many global financial services and institutions. However, in recent years, people are starting to question these institutions- where their interests really lie and their ability to keep with the times.

Furthermore, a recent incident involving one of Hong Kong’s top conveyancing law firms resulted in their bank accounts being frozen, leaving over 10,000 clients at risk of default on home loans and breach of their sale and purchase agreements.
(Full news: https://www.scmp.com/news/hong-kong/law-and-crime/article/3115304/10000-clients-affected-hong-kong-law-society-shuts)

Due to all these circumstances, the new generation gravitates toward Decentralised Finance (DeFi) over Traditional Finance, which is more efficient, permissionless, secured, fast and borderless. In this episode, we will drill into how DeFi works and the potential of it replacing the banks.

#TraditionalFinance #Cryptocurrency #DecentralisedFinance
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I’m not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.

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