Is Web3 just another ‘hype’ or will it unlock a multi-trillion dollar opportunity in fintech?

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Is Web3 just another ‘hype’ or will it unlock a multi-trillion dollar opportunity in fintech? - e27

Quick Summary:

Since its inception in 1851 by Western Union, the finance industry has experienced significant transformations in its operational frameworks and methodologies.

The regulators are now working with 17 financial institutions (FIs) to test promising asset tokenisation use cases which would scale the tokenised market in the city-state.

However, the industry’s slow uptake in fully embracing and integrating innovative solutions while sticking to traditional finance (TradFi) approaches is why cross-border transactions remain expensive, slow and inefficient.