🔥 Charles D’Haussy: DeFi to Follow the Internet's Evolutionary Path
posted 3 hr ago
Charles D’Haussy, CEO of the dYdX Foundation, believes that the decentralized finance (DeFi) sector may soon enter a “walled garden” phase, driven by regulatory pressures and growing demand for integrated services.
D'Haussy emphasized that, like the early internet, DeFi operates in decentralized networks with limited direct regulatory oversight. Initial internet regulations targeted service providers like AOL, without regulating the World Wide Web itself.
Charles D’Haussy, dYdX Foundation СЕО. Source: coindesk.com
Speaking at Hong Kong Fintech Week, D’Haussy drew parallels between DeFi’s evolution and the internet’s transformation in the 1990s. He suggested that DeFi may develop in a similar way, with users increasingly favoring streamlined applications over open protocols.
The internet is evolving into silos with walled gardens, where people prefer apps over web browsers. DeFi should follow this trend,D’Haussy said.
D'Haussy emphasized that, like the early internet, DeFi operates in decentralized networks with limited direct regulatory oversight. Initial internet regulations targeted service providers like AOL, without regulating the World Wide Web itself.
Regulators will likely adopt a similar approach with DeFi, focusing on centralized finance (CeFi) platforms and other gateways to ensure compliance,he added.
While DeFi remains an open financial ecosystem, CeFi could serve as a bridge, linking regulated services with decentralized offerings. D'Haussy pointed out that platforms like Binance already provide users access to DeFi tools through non-custodial wallets, broadening DeFi’s reach within a regulated framework.
He envisions a future where DeFi and CeFi coexist, overcoming regulatory and technical challenges, with Hong Kong positioned as a major hub for advancements in digital finance.
More breaking news
More breaking news
Breaking news
📣 Immutable Reacts to Potential SEC Lawsuit
Breaking news