Last year was the year of CeFi collapses. While detrimental, investigations are shedding a light on CeFi's (not DeFi's) lack of transparency.
The Quadrata team launched their first major product, a low code Web3 passport for DeFi KYC after they formed less than eight months ago in Aug. 2021.
As the crypto industry waits for regulation in the U.S., CeFi has a trust dilemma. Increased transparency might be the way forward.
DeFi and Cefi, while both playing in the same ball park, have critical differences essential to the development of digital finance.