Analysis: Big Banks Embrace Alliance Chains, while Small and Medium-sized Institutions Favour DeFi

[ChainDD report] January 12 (ChainDD) According to the 21st Century Business Herald, with the growing development of blockchain technology, financial institutions are quietly dividing their choice of application direction.

Many large banks are actively using the alliance chain technology to expand supply chain finance, cross-border payment based on letter of credit, settlement of bulk commodity transactions, bill financing and other businesses.

In contrast, many small and medium-sized fintech institutions take advantage of the rise of DeFi technology and have laid out new business forms such as digital currency mortgage financing, credit, insurance and payment based on decentralized architecture.

In addition, it is worth noting that both large banking institutions and small and medium-sized fintech platforms involved in the development of DeFi regard asset and data on-chain transactions as an important breakthrough in the reform and development of blockchain + financial industry this year, the article said.

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