On the other hand, Stephen noted that large-scale institutions such as financial firms, exchanges, and central banks rely on human intervention to execute functions of back office operations, reconciliations, etc. “To me, DeFi is about using technology applications to replicate and execute all those functions,” he affirmed.
On the concluding question of when will DeFi be just finance, Patrick expected it to stay DeFi. In contrast, Stephen expects more adoption in the next 2-3 years with institutions being around. Francisco believes that DeFi will continue to evolve during the next 5-10 years replicating the services we have in the traditional financial world.