Federal Reserve Governor Waller presented his views on decentralized finance at the Vienna Macroeconomics Symposium held at the Vienna Institute of Advanced Study in Austria. He stated that distributed ledger technology (DLT) may be an efficient and fast way of recording, allowing for recording in a 24/7 trading world; Smart contracts do not rely on individual parties to execute transactions, but can effectively merge multiple stages of transactions into a unified behavior executed by smart contracts. However, DLT, tokenization, and smart contracts are only trading technologies that can be used for DeFi or to improve the efficiency of centralized finance. Over time, these technologies will almost certainly improve efficiency. Can these technologies really achieve complete financial decentralization? @sewerperson