The rise of the internet, smartphones, and cloud computing was a huge step but DeFi is the next great LEAP in global finance. Centralized, binding , corporate guards of financial products and services are being replaced with decentralized, open, trustless and permissionless protocols that were shunned and viewed as a pipe dream.
DeFi tokens, dapps, and protocols continue to appreciate, grow and developers that are improving this tool to fix uncertainties and become more mainstream.
You have many popular protocols like uniswap that is a lending dex in the defi ecosystem with a native token and encourages liquidity for specific pools, or Fairyswap that contain privacy-preserving functionalities that satisfy crypto users demand of anonymity while still retaining auditability that fulfills government regulations. And many others like sushiswap, maker, nexus, etc. etc.
With the combination of composability and permissionlessness, the potential for growth and opportunity is big compared to our traditional system.
What do you guys think? What will come to be of traditional finance?
7 thoughts on “Great Leap towards global finance”
Remember what during the last “great leap forward”?
“The government wants to fool its people by doubling the minimum wage but at the same time printing more than enough money into circulation. We can’t solve problems by creating more problem for generations to come which is why Bitcoin and some other decentralized finance applications powered by blockchain technology looks to be our only hope of creating a better future.” -Olawale Daniel
Okay chairman mao
If by trustless you mean no one trusts it, then yes I do agree.
DeFI has a long way to go, in terms of security for the average Joe to even consider dipping their toes. DeFI, right now, is only an option for gamblers, and not for risk averse investors.
It will have to adapt as customers demand DeFi service. I suspect many projects will be purchased by the big banks, finance companies.
Why would one use something that is advertised as “trustless”?
DEFI is unfortunately too difficult amd risky for smoothbrains like me.