Both Cefi and Defi provide a way for people to manage their money and each has its advantages and disadvantages.
All over the world, people use traditional financial services every day. However, these services are provided by big banks and always have a single point of failure. CeFi is an extension of the existing financial model, but upgraded to the next level with crypto. "It alleviates one of the biggest pain points of the traditional financial system — accessibility but keeps the usability and simplicity as it's more familiar to most people." said Dashdorj. Centralization refers to a point of central control, which in the case of finance refers to banking institutions. Historically, centralization in finance was desirable as a measure and maintainer of stability in global financial processes, thought to be more secure and