![]() ![]() Now you know how and why DeFi was created, let’s look at what it can do. This is why the core tenets of DeFi are that it is non-custodial, open, transparent and decentralized. Democratic governance over the services offered and their development.Using a decentralized network to ensure no one corporation or individual has too much control.Creating transparency with public transaction records.Creating borderless markets that are always open to investors.Letting anyone, anywhere have access to financial services without holding or collecting their personal information.Automating and speeding up transactions and processes using technology.Letting users hold and have control over their own money and how it’s spent.It’s a tall order, but it aims to do this by: The hidden charge of holding and collecting your personal data.Īll this to say, these are the problems DeFi is looking to tackle.A lack of accessibility to financial services for millions of people based on various regulations, rules and policies of corporations and governments.A premium to access financial services to intermediaries can take their cut. ![]()
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