FTX collapse shows need for more – but better – DeFi 

FROM the telegraph to the mainframe, technological change has long shaped the finance industry. Today we stand at a new inflection point. Decentralised finance, or DeFi, which uses blockchain-based smart contracts to automatically execute a variety of financial transactions without human intervention, has the potential to be the next great transformative force – but only if established institutions play a much bigger role.

Trillion of dollars of stocks, bonds, currencies, and other assets are …

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