DeFi has grown over 88x in the last year, fuelling the financial revolution where De-Fi and
consumers are both the winners. How?
Title: DeFi is fuelling the financial revolution? How?
Slow, too restrictive, and not accessible to everyone? That’s centralised banking.
It often takes too long to open a bank account… and what about those who want to make
online purchases but don’t have a bank account or a debit card?
How do we solve these issues?
Welcome to DeFi. It’s a Win-win situation for consumers and De-Fi solution providers.
So, what is it?
To quickly summarize, DeFi, the short version of decentralized finance is powered by code,
running on a decentralized infrastructure using the ethereum blockchain.
It enabled individuals to access financial products and services that are using blockchain
and smart contracts. It exists to make banking more accessible to everyone. All you need is
a smart phone and an internet connection.
Decentralized solutions are more secure and they are also more efficient.
Growth & Digital Innovation
DeFi has grown over 88x in the last year (Forbes) mostly accelerated by the Covid-19
pandemic. People explored alternative ways to invest and make money during this
challenging time.
Changing consumer needs in the digital world and the rise of DeFi has led to a rise in
entrepreneurship and innovation.
There are new and improved identity and cyber solutions in the market, peer to peer trading
platforms and new crypto based payment systems. These are all fuelling economic growth.
DeFi solutions helps businesses to build their brands across the world in markets previously
inaccessible, enabling them to gain more customers. Customers get to buy stuff that they
want from around the world in a simplified way.
De-Fi & the emerging markets – this is starting to take off like a rocket….
It gives consumers like us what we want – transparency, options, accessibility and faster
payments.
Fear – Shifting mindsets
Despite the benefits of DeFi, some authorities, like the governments have put barriers in
place. *eye roll.
This was bound to happen.
Why are some against this trend?
Is it fear? Fear of the unknown…? Probably.
Are they worried about losing control?
With this fear comes a lot of misinformation.
As more people use decentralised finance successfully in the future, views will shift, or they’ll
get left behind. Do you want to be at the front of the race or right at the back, or worse not
even in it? I know where I’d rather be.
With us or against us?
DeFi is the future. As the tools develop and boost user experience this is likely to speed up
adoption until it becomes the new normal. Traditional banks are experimenting with DeFi
options.
Will this growth lead to government changes?
Countries who realise the economic growth potential of DeFi will work together with DeFi
influencers and enablers.
FYAMI provides marketing services for DeFi solutions. Contact us today.
