During the Dutch Blockchain Week in Amsterdam, Anton Bukov – co-founder of the decentralized exchange 1inch – made notable remarks about the superior potential of decentralized finance (DeFi) compared to traditional banking systems. According to him, DeFi is not only simpler but also offers much lower operational costs, opening up financial access opportunities for billions of people worldwide – especially the 1.4 billion people who are "forgotten" by the traditional financial system.

Operational Costs: DeFi Outperforms Traditional Banks

Bukov emphasized that setting up and verifying accounts at traditional banks can cost between 100 to 300 USD for each customer. Meanwhile, modern online banks have reduced this cost to about 20-30 USD. But with DeFi, every process is almost free of initial costs. Users only need a smartphone with internet connectivity to start using financial services – no paperwork, no complex verification.

This makes DeFi a particularly suitable solution for communities that have difficulty accessing banking, lack official identification, or live in areas without financial infrastructure.

Global Finance No Longer Has Limits

Anton Bukov shared that accessing traditional finance is costly, and for banks, serving unprofitable individuals is seen as "not worth the investment." Meanwhile, DeFi operates in the opposite direction: extremely low costs, extremely high accessibility, enabling everyone – regardless of country or circumstances – to participate in the global digital economy.

He exemplified that a farmer could "trade a chicken for USDT" if they have a phone and internet. This shows the potential that DeFi brings in digitizing and globalizing everyday economic activities.

DeFi Drives Liquidity and Global Economic Growth

Not only does it serve individual users, but DeFi also helps countries access global liquidity. Bukov believes that DeFi operates like an independent economy, driven by billions of transactions on decentralized systems. This allows users and businesses to experiment with new financial strategies, explore innovative investment channels, or implement international business models.

He also noted that countries that are open to decentralized finance and encourage investors to access global liquidity will have opportunities to ride new economic waves. Participating in the DeFi ecosystem can yield benefits similar to opening up international trade – the more you engage, the more robust the growth.

Conclusion: DeFi – The Gateway to Financial Equality

DeFi is not just a technological trend, but a true financial revolution. With low costs, widespread accessibility, and the potential to drive economic growth, DeFi is opening doors for billions of people who have been sidelined by the traditional financial system. As Anton Bukov affirmed: "As long as you have a phone and internet, you can start participating in the global economy." DeFi is the key to unlocking a future of more inclusive and fairer finance for everyone.