Decentralised finance, the 'end of banks' - and what comes next

Loading player...
Simon Dingle and Steven Sidley believe a revolution is coming to the world of finance, and it could mean the end of banks – at least as we know them.
Dingle and Sidley join TechCentral editor Duncan McLeod to discuss their newly published book on “decentralised finance”, or DeFi, and unpack why they think the staid world of banking is poised for a radical overhaul – one that will lead to the death of financial institutions that don’t adapt to a new world underpinned by cryptography and blockchains.
In the prologue to the book, called Beyond Bitcoin: Decentralised Finance and the End of Banks, the authors state that “great fortunes will be made and lost” in DeFi’s wake.
Banks, they say, will go through a “painful shudder of reinvention”. They also state that the changes brought about by DeFi will make the trillion-dollar rise of bitcoin look "pedestrian". It will disrupt and displace companies, and even entire industries, they say.
Dingle and Sidley unpack why they believe DeFi is going to usher in the biggest technology-led disruption in a generation and what it ultimately will means for banks, individuals and even nation states.
25 Mar 2022 English South Africa Technology · Business

Other recent episodes

TCS+ | Vox on AI, data rules and omnichannel communication for SMEs

Phone calls, e-mails and in-person conversations were once the only ways businesses could talk to their customers. Social media changed that. Marketing, customer acquisition, sales and support now happen across a growing number of channels. That brings clear benefits, but it can also leave businesses with a fragmented communication ecosystem…
26 Oct 14 min

TCS | The Cape Town firm quietly connecting Eskom, Pep and 6 000 ATMs

Réan van Niekerk Metacom has spent 25 years designing its own routers and running private networks for some of Africa's biggest retailers, without a cent of venture capital. In this episode of the TechCentral Show, founder Réan van Niekerk tells Fanie van Rooyen how the Cape Town company came to…
23 Oct 36 min

TCS | Frogfoot sees bigger fibre deals coming

Frogfoot plans to keep buying smaller fibre network operators in South Africa’s suburbs as the market consolidates, but CEO Shane Chorley stopped short of ruling out a sale of the business. “I’d be ignorant to say that we would ignore any offer,” Chorley said on the latest episode of the…
8 Oct 40 min