In 2020, the cryptocurrency narrative has been dominated by decentralized finance. The hottest trend in crypto has seen exponential growth in recent months and has been a catalyst for a wave of innovation in the space.

For many, the conversation has largely focused on lending, borrowing, liquidity mining, arbitrage, and token swaps, but the use of blockchain in supply chain management is increasing across many sectors. 

The explosion of value locked in Eth has caused a great deal of network congestion and many are beginning to realize that the current framework for Defi is not yet ready to be scaled.

While Defi certainly appears to be a primary factor for growth and development in crypto, the limitations of the infrastructure could mean that further developments are required to see the mass adoption of open finance protocols to the extent that the technology truly competes with the legacy financial system. 

That is not to say that Defi won’t challenge traditional...