DeFi Is Not a New Concept and Is Misnamed As Decentralized – SEC Chair

Gary Gensler. Source: a video screenshot, Youtube/Bloomberg Markets and Finance Contrary to a popular belief, decentralized finance (DeFi) is “not really a new concept,” and also a misnomer, as DeFi platforms have “a fair amount of centralization” that includes governance mechanisms, fee models, as well as incentive systems, according to Gary Gensler, Chairman of the US Securities and