Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Saturday, August 9
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » How P2P DeFi Transactions Will Disrupt The Traditional Finance?
Featured

How P2P DeFi Transactions Will Disrupt The Traditional Finance?

“We are in a very exciting time right now, with cryptocurrency and DeFi providing entirely new financial plumbing that could replace many aspects of what we have in place now," states Fiat24 Co-founder Yang Lan.
Arun ShakyawarBy Arun ShakyawarSeptember 7, 2022Updated:September 7, 2022No Comments4 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
How P2P DeFi Transactions Will Disrupt The Traditional Finance
How P2P DeFi Transactions Will Disrupt The Traditional Finance
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

Peer to peer (P2P) transactions essentially allow money to flow directly from user to user, bypassing traditional banking channels, making it a truly disruptive form of FinTech.

Enabling anyone to purchase, receive and pay for products and services with another party directly, P2P allows people to have better control over their transactions, gain higher transparency, and generally offers a more efficient system in which to send and receive money.

The traditional financial sector is already keenly aware of the fact that blockchain technology possesses boundless opportunities to fundamentally alter how consumers will interact with both businesses and each other, but can peer to peer transactions truly disrupt the traditional finance?

Cutting out the middleman – the heart of DeFi

Both the promise and potential of DeFi is far-reaching, even though it’s still in the infancy of its capabilities. It has the potential to be a major disruptive force, and establishing it may provide several important features and benefits that could be leveraged for use in the P2P payments industry.

As promising as this technology is, it remains to be seen if it can ever overtake traditional financial services offered by banks, with people relying on self-custody solutions and handling payments directly with each other.

Reluctance to overhaul current frameworks, cost and uncertainty whether integrating into existing systems and processes will be successful, will be some of the biggest challenges.

There are many initiatives underway that continue to be developed and enhanced further by both start-ups and established companies. Further proof-of-concept and small-scale executions will take place in the near future to set the stage for wider-scale implementation globally.

Peer to Peer in a Blockchain World

While P2P solutions Venmo and SquareSQ were started over a decade ago, the offering has increased in popularity recently. A reflection of the Covid-19 pandemic which forced people to move into digital banking solutions, the expansion is seen in all sectors of financial services, from e-commerce to capital management, building on a trend that began prior to the epidemic.

Beyond Web2 solutions, blockchain technology can further advance peer to peer transactions, effectively removing the intermediary almost entirely.

Fiat24, a Swiss FinTech offering cash accounts on the blockchain, offers a DApp which supports peer to peer transactions. With transactions powered by smart contracts, real-time and hassle-free payments can be made without any delays, 7 days a week, without any of the downtime experienced in traditional banking.

As Co-founder Yang Lan says “we are in a very exciting time right now, with cryptocurrency and DeFi providing entirely new financial plumbing that could replace many aspects of what we have in place now. Looking back at the emergence of neobanks during the past few years, the fully “online-only banks” were seen as a significant threat to the retail banking industry. This has parallels with the current narrative of DeFi rebuilding our financial ecosystems. People do want to experience the control and freedom that comes with being responsible and truly owning their digital assets, even able to carry out transactions directly on the blockchain through smart contracts, without an intermediary. That is at the heart of our offer.”

Looking ahead Peer-to-peer models have not yet become a market staple, despite being used in various sectors, such as borrowing and lending. As Mark Cuban says, DeFi won’t “automatically end banking” because “banks aren’t stupid,” but he predicts DeFi applications will still disrupt the traditional space. “Like [how] fintech picked off features that opened doors to apps that garnered millions of customers, I think DeFi will evolve the same way,” he said.

In the meantime, it is worth looking at the innovators in the space and to be an early adopter, testing out new tech which will surely change the face of finance entirely.

Read Also: T-REX To Enable Business And Payment For 2 Billion Unbanked Population Globally

Banking dApps (Decentralized applications) Decentralized Finance (DeFi) Digital Assets Fiat24 FinTech P2P TradFi Web 3.0
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Arun Shakyawar
  • Website
  • X (Twitter)
  • LinkedIn

Arun Shakyawar is a Tech writer based out of Los Angeles. He holds an Engineering degree in Electronics and communications, and an MBA in marketing. He specializes in TMT. Before writing full-time, Arun worked as a management consultant with leading consulting firms. As a consultant he developed interest in blockchain technology, and now actively tracks blockchain and digital asset markets. Arun can be reached at arun@alexablockchain.com.

More AlexaBlockchain

Kensei Debuts On-Chain Reputation Memecoin Launchpad on Katana as Pump.fun Falters

July 30, 2025

Avalanche and Team1 Launches $100,000 Team1 Mini Grant Fund To Support Web3 Ecosystem in India

July 22, 2025

Raiinmaker Integrates Google Veo Model to Democratize AI Video Creation

July 15, 2025

Dakota Raises $12.5M Series A Led by CoinFund

July 15, 2025

Bitcoin Enters Price Discovery at $111,907, Driven by Macro Tailwinds, ETF Inflows

July 10, 2025

Moku Appoints Web3 Veteran Kathleen Osgood as Chief Business Officer

July 2, 2025
Add A Comment

Comments are closed.

Don't Miss

Shardeum Revives ‘Proof of Keys’ Movement With Self-Custody Airdrop Program

MANTRA Secures $20M from Inveniam to Scale Private RWA Tokenization

Star System Labs Launches Nebula Miner, The First Permissionless Meme Coin Mining Protocol

RWA Inc. Launches the First Fully On Chain Private Investor Platform

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.