The great unbanking: How DeFi is completing the job Bitcoin started
While most of us will prefer to forget the horrors of 2020, DeFi may well prove to be the guarantee of a better, more liberated future. In a broad sense, 2020 has been the year of the COVID-19 pandemic. As it charges toward 1 million deaths and over 30 million infections, governments have been found wanting. Our institutions have crumbled, leaders reacted too slowly, and all of the systems both in place and newly created to protect us — healthcare, aged care, testing, protective equipment supply chains, contact tracing, etc. — have collapsed. But 2020 has also very much been the year of....
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DeFi has marked the birth of an open alternative to the current financial system, promising broader financial inclusivity. Decentralized finance came to life with the inception of Ethereum in 2013. However, it truly hit the ground running in 2016–2017 with the backing of Ethereum developers and some entrepreneurs and experts in the financial investment sphere. To get our facts right and clear all misconceptions, DeFi encapsulates a variety of financial applications in cryptocurrency or blockchain that are geared toward removing intermediaries between parties in financial transactions.....
In coexistence with mutual benefits, decentralized finance and central bank digital currencies will finally make money universally available worldwide. Decentralized finance (DeFi) is changing the way that people all over the world think about money faster than any previous financial revolution. Banks, which have monopolized the way we’ve accessed money since antiquity, are finally seeing their status being challenged. Now, it’s DeFi which is starting to provide an alternative that could turn the economic landscape on its head and democratize access to finance.This seismic shift in power....
More and more people are deciding to move away from the jurisdiction of bricks-and-mortar banks as they want more control over their money. Unbanking is a growing movement, but people aren’t storing their cash under their mattress anymore—they’re holding crypto. Specifically decentralized finance coins (DeFi). Getting full control of your money and operating with DeFi […]
Decentralized finance (defi) protocols continue to shine as the total value locked in defi is over $260 billion. While Ethereum started the defi trend and holds the lion’s share of TVL in defi, a great number of decentralized applications (dapps) are supporting a slew of alternative blockchains.
Today’s Most Popular Dapps Support More Than One Network
On November 7, the total value locked in defi is $260 billion according to defillama statistics on Sunday. When defi first started making waves, most of the dapps that people interacted with leveraged the Ethereum....
One of 2021’s biggest stories was the China ban on Bitcoin mining. On one hand, the news affected Bitcoin’s price and gave ammunition to the nay-sayers that think that governments will outlaw Bitcoin. On the other, the network kept working without a hiccup, recovered its hashrate in record time, and gained in decentralization. However, a question remained. Why did China exclude itself from this very lucrative activity in which they were dominating? As Bitcoin entrepreneur John Carvalho not-so-eloquently put it, “I refuse to believe that China is stupid.” There has to be a reason, even if....