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Added: Apr 05, 2022 14:32
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DeFi, also known as “Decentralized Finance” is a subspace inside a much broader cryptocurrency space. The term is applied to a selection of financial products based on blockchain technology and smart contracts. These products include apps and unique protocols built as autonomous programs that disrupt the centralized industry. The Decentralized Finance Market, or DeFi, keeps growing at a rate of a 2.5% median market capitalization increase every day, currently standing at around 130 Billion dollars. Every day the amount of DeFi users is growing. This open financial ecosystem is finding an audience on various blockchains. The development of the DeFi industry has been incredibly successful. This is in large part due to a growing mistrust in centralized financial organizations among consumers. What started as a battle with a banking system, has now grown into a battle not only for financial privacy but also personal privacy. For a long time people trusted companies who handled user data carelessly and irresponsibly. HealthNet, Equifax, Cambridge Analytica are some of the most notorious examples of costumer data misuse in the last decades. Such bad players and mass consumer dissatisfaction with the existing order have fueled a new vision, a vision that we, crypto enthusiasts, call Web3.0.Comments:
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