The Impact Of Blockchain Technology: Neo Banks Versus Traditional Banks

The popularization of blockchain technology has greatly impacted the financial sector, especially when comparing Traditional Finance (TradFi) with the new trends of Decentralized Finance (DeFi). Blockchain technology enables the streamlining of payment processes, complex workflows, decentralized ownership and optimizes internal processes. In general terms, the technology gives the banking industry a digitally inclined structure that enables banking end-users to explore different services online easily and carry out their transactions seamlessly.

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