Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Decentralized Finance, more commonly known as DeFi, is one of the hottest areas in the blockchain sector. In fact, some argue the growing interest in DeFi solutions highlights the crypto industry’s increasing maturity.
Cryptocurrencies, which are arguably the most well-known example of blockchain programming technology in use, are already revolutionizing global payments. Through offering reliable, scalable, and - perhaps most importantly - open alternatives to fiat currencies and banks, crypto is gaining traction.
The easiest way to describe the DeFi field is that this aims to do what cryptocurrencies have already done for payments, but for the entire finance industry. As such, DeFi solutions aim to wholly replace the existing financial legacy infrastructure of banks, lenders, insurers, and more.
Instead, DeFi solutions (or “Open Finance”, as some refer to the movement) intends to open up the finance field. Instead of requiring approval from financial legacy...