a16z crypto: Traditional finance does not want to embrace DeFi, but rather “dismantling” to use block chains

analysis of a16z crypto suggests that the encryption industry has long been a narrative that will eventually integrate DeFi and TradFi and combine open liquidity with institutional distribution to form a new system that is better than traditional finance. This may not be the case, however, as traditional finance is not being integrated with DeFi, but is using block-chain technology in a “dismantling” manner that meets its own needs. The technology of block chains currently being used by the Agency includes, inter alia, atomic settlement (Atomic Settlement), shared books, programmable currency, and automated marketing (AMM). a16z crypto points out that the core driving force of traditional finance using block chains is not decentrization, but commercial efficiency, and that a new type of financial infrastructure may emerge in the future: an “programmable financial infrastructure” based on the bottom of the block chain but optimized for institutional constraints。