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a16z crypto: Traditional finance doesn’t want to embrace DeFi, but instead adopts blockchain in a “modular” way.

金色财经_
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Abstract generation in progress
Golden Finance reports that a16z crypto posted an analysis saying that the crypto industry has long been popular with a narrative: DeFi and TradFi will eventually converge, combining open liquidity with institutional distribution to form a new system superior to traditional finance. But reality may not be like that. Traditional finance is not merging with DeFi; it is adopting blockchain technologies in a “disaggregated” way that fits its own needs. The blockchain technologies currently being adopted by institutions mainly include: atomic settlement, shared ledgers, programmable money, and automated market-making mechanisms (AMMs).
a16z crypto points out that the core driving force for traditional finance to adopt blockchain is not decentralization ideology, but business efficiency. Therefore, a new category of financial infrastructure may emerge in the future: “programmable financial infrastructure” built on blockchain layers, optimized for institutional constraints.
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