Is Decentralised Finance (aka DeFi) Just Hype or the Real Deal?
Kundalini asks "Have you looked into the DeFi (decentralised finance) being built on Ethereum - Maker, Kyber etc?"
Here's my response!
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As of right now I think it's still just hype. I think in order for it to be the real deal they need a way to implement KYC and the regulatory requirements. If this does not happen then volume will likely never be great enough for there to be massive liquidity.
De-Fi is a must need movement, finance should be made decentralized there is no doubt with that. The question here is not IF but When and What will make it happen. We don't have any Perfect/Great decentralized financial product yet. If the transaction fee of Bitcoin is reduced as it scales and if it is accepted as a payment method like fiat money that would be a huge step in De-Fi movement. It is early and it is definitely needed.
Blockchain technology is supposed to be hosted on the individuals device not on a server. Are there any truly decentralized systems? It is a work in progress. We have to be patient because even Steem isn't completely decentralized.
I see that all crypto coins are decentralized systems where we don't need to print money.
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I believe it is just helpful to make the blockchain to enhance and grow
Excellent post, your publication was already missed because of the difficulties of the new update, a hug :)
This is where I believe that investing is safe only with patience in this blockchain
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