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Why Do We Need a Decentralized Financial System (Defi)

Tuesday , 3, May 2022 Comments Off on Why Do We Need a Decentralized Financial System (Defi)

Decentralized Finance, also known as “Defi” in short, has been taking the blockchain and crypto world to the forefront. But, the recent revival is rooted in the period of bubbles in 2017. When everybody was taking part in something called an “Initial Coin Offering” or ICO however, only a handful of companies realized the potential for blockchain beyond a rapid increase in value.¬†

The pioneers of blockchain imagined a future in which financial services such as savings, trading and insurance, and banking would be made possible by the blockchain with no intermediaries. You can also hire the best defi developer. To decentralize your financial system.

Aave to launch KYC-enabled permissioned DeFi for institutions - Ledger Insights - enterprise blockchain

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To grasp the potential of this revolutionary revolution, think about if you had access to savings accounts that earn 10% per year in USD; however, without a bank and virtually no risk to your money. Imagine being a market maker and earning commissions in the form of a percentage that any Citadel would like. Does it sound too amazing to be true? But it’s not. The future is here already.

You are now able to get exposure to a broad range of assets across the Ethereum ecosystem, without having to deal with the traditional financial market. You can earn money by making loans or as a market maker.

For those living in developing countries, this is an incredible breakthrough because they now can access the entire range of financial systems that are available to the developed world with no obstacles to access.