BIS, in a new report, criticized the crypto currency sector.

International Payments Bank (BIS) discussed the crypto in its new report. However, the bank said that reality does not coincide with the defi.

BIS: Reality does not coincide with defi

The International Bank of Payments (BIS) published a report criticizing crypto currencies. He argued that the unquestioned vision of the crypton’s decentralized vision did not comply with reality and was flawed. BIS thinks that even if technology can be copied in a batty and more reliable traditional financial system, crypto currencies are not suitable for playing an important role in the international currency system.

The report states that the flaws of crypto currencies are caused by the underlying incentives underlying verifyers rather than technology. Although the BIS argues that the crypto currency sector operates under an unidentified vision, it is in practice that new central intermediaries play an important role in channeling and intermediary in the crypto ecosystem of funds.

The Bank says that financial transactions can be reproduced or adopted within a safer and more reliable traditional financial system, such as programmability, unification and automation.

The BIS criticizes the non -central financial sector as “self -referenced ve and argues that Defi has grown risks and causes risks without financing in the real economy. The report states that crypto and Defi have structural defects that are not suitable for playing a constructive role in the monetary system.