Australian Senator says Defi presents incredible opportunities

Senator Jane Hume shared her stance on crypto and described Defi as a bundle of opportunities for the future. 

In the present time, crypto love is spreading among not only the institutional investors but also the senators because they are aware of the huge future in crypto and futuristic technology of payment systems.

On 22 November, speaking at the Super & Wealth Summit in Sydney, Jane Hume, Minister for Women’s Economic Security of Australia, and also representing the Liberal Party and the state of Victoria, shared her stance on the decentralized finance industry of the crypto space. 

Jane asserted that Defi is not a fad,” and to “tread cautiously. She targeted the crypto industry and government to look precisely in the Defi sector. She also said that Defi technology is “not going away any time soon.”

She further continues 

“If the last 20 or 30 years have taught us anything, it’s that all innovation begins as disruption and ends as a household name,” 

Jane acknowledged that Defi is fully based on decentralized technology and this technology has a tremendous level of opportunities. And with this innovation of the Defi technology, Australia will not remain back because of an unknown fear. 

Jane touched the matter of COVID 19 pandemic-based financial instability that Australia and the whole world faced. According to Jane, Australia will recover perfectly from these situations with the “innovation” and “uptake of technology”. 

Further, Jane said that there are many players in this industry, which are responsible for pushing the technology and embracing innovation and developments in this space. In particular, she reminded the name of the Commonwealth Bank. 

Commonwealth Bank announced on 3 November, that they are going to start crypto trading services for their users. 6.5 million users will be able to trade with 10 flagship assets like Bitcoin, Ether, Bitcoin Cash, and Litecoin.

Read also: Senator Lummis Slams Hillary Clinton’ statements on crypto