{"id":36264,"date":"2021-02-11T12:40:23","date_gmt":"2021-02-11T10:40:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36264"},"modified":"2025-08-29T05:27:20","modified_gmt":"2025-08-29T02:27:20","slug":"alliancebernstein-flags-competition-between-the-defi-sector-and-banks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/alliancebernstein-flags-competition-between-the-defi-sector-and-banks\/","title":{"rendered":"AllianceBernstein flags competition between the DeFi sector and banks"},"content":{"rendered":"<p>The financial giant AllianceBernstein, with $600 billion in assets under management, addressed decentralized exchanges in a client note and forecast DeFi protocols expanding to the scale of traditional-finance institutions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Alliance Bernstein \u2014 $600bn asset manager \u2014 is explaining to clients the importance of Sushiswap and Uniswap <a href=\"https:\/\/t.co\/ssIWZU1tE0\">pic.twitter.com\/ssIWZU1tE0<\/a><\/p>\n<p>\u2014 Frank Chaparro (@fintechfrank) <a href=\"https:\/\/twitter.com\/fintechfrank\/status\/1359727950795522048?ref_src=twsrc%5Etfw\">February 11, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>&#8220;The DeFi sector currently offers a wide range of financial services, including lending\/borrowing and exchanges. In this sense, it competes with banks and financial institutions, although DeFi is nowhere near their size yet.&#8221;<\/p>\n<\/blockquote>\n<p>The Block analyst Frank Chaparro, who had access to the document, highlighted the word &#8220;yet&#8221; in this quote.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">\u201cDeFi Dapps currently offer a variety of financial services, including lending\/borrowing and financial exchanges. In this sense, DeFi competes with banks and financial institutions, though DeFi is nowhere close to their size yet.\u201d<\/p>\n<p>Yet. \ud83e\uddd0 <a href=\"https:\/\/t.co\/T6sBdRiX2R\">pic.twitter.com\/T6sBdRiX2R<\/a><\/p>\n<p>\u2014 Frank Chaparro (@fintechfrank) <a href=\"https:\/\/twitter.com\/fintechfrank\/status\/1359729120314339336?ref_src=twsrc%5Etfw\">February 11, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Researchers at AllianceBernstein highlighted four advantages of DeFi over the traditional financial system:<\/p>\n<ul>\n<li>Lower costs: decentralized protocols eliminate intermediaries, and the fees they charge are minimal.<\/li>\n<li>Faster processing: transactions can take from a few seconds to minutes, unlike traditional services.<\/li>\n<li>Transparency: the Ethereum blockchain, on which most DeFi protocols are deployed, is open for audit and decentralised. It also removes the risk associated with a single point of failure, as during <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9C%D0%B8%D1%80%D0%BE%D0%B2%D0%BE%D0%B9_%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%87%D0%B5%D1%81%D0%BA%D0%B8%D0%B9_%D0%BA%D1%80%D0%B8%D0%B7%D0%B8%D1%81%D0%B8_(%D1%81_2008)\" target=\"_blank\" rel=\"noopener\">\u041c\u0438\u0440\u043e\u0432\u043e\u0433\u043e \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u0447\u0435\u0441\u043a\u043e\u0433\u043e \u043a\u0440\u0438\u0437\u0438\u0441\u0430 2008 \u0433\u043e\u0434\u0430<\/a>, \u043d\u0430\u0447\u0430\u0432\u0448\u0435\u0433\u043e\u0441\u044f \u0441 \u043a\u043e\u043b\u043b\u0430\u043f\u0441\u0430 Lehman Brothers.<\/li>\n<li>Increased accessibility. Globally, 1.7 billion people are unbanked. In developing countries, amid volatile national currencies and weak governance, DeFi services are becoming a real alternative.<\/li>\n<\/ul>\n<p>Earlier, the Federal Reserve Bank of St. Louis <a href=\"https:\/\/u1f987.com\/en\/news\/fed-study-sees-potential-for-integrating-defi-into-the-financial-system\">considered<\/a> the advantages and risks of deploying DeFi protocols in the financial infrastructure.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial giant AllianceBernstein, with $600 billion in assets under management, addressed decentralized exchanges in a client note and forecast DeFi protocols expanding to the scale of traditional-finance institutions.<\/p>\n","protected":false},"author":1,"featured_media":36265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1093],"class_list":["post-36264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-defi"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36264"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36264\/revisions"}],"predecessor-version":[{"id":36266,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36264\/revisions\/36266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36265"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}