DeFi won't win over big banks until it fixes its hacking problem, executives say

Big banks are intrigued by the potential of blockchain technology for back-office operations, but persistent security issues, particularly hacking incidents, are holding back broader adoption of decentralized finance (DeFi). Executives argue that until DeFi can guarantee robust security measures, it won't win over the trust and investment of traditional financial institutions. This reluctance is crucial because the integration of DeFi solutions by major banks could significantly reshape the financial landscape, making it essential for the sector to address these vulnerabilities head-on.