Encryption forecast.What power will shape… | Author: Modi Goldstein | The Capital | July 2021
Ethereum and Decentralized Finance (DeFi) are the beginning of the solution.
DeFi allows ordinary people to bypass the traditional financial system that is large, slow, and inefficient. Using DeFi, people can immediately open an account, earn considerable interest, and immediately lend/borrow funds. These features are revolutionary in their own right, and, unbelievably, they are just the beginning.
DeFi is not only useful for individuals and companies who want to manage their funds more effectively. The DeFi business model relies on smart contracts and also allows us to build the most efficient company we have ever seen. Companies with fewer than 50 employees can compete with huge traditional financial institutions with hundreds or thousands of employees. (Yes, I agree. The similarities to the Internet are encouraging.)
DeFi has changed people’s value propositions. Not only does cryptocurrency provide another way to beat inflation, but it now provides a range of financial services that put more money in consumers’ pockets and are impossible to replicate in the traditional financial world.