The autonomous decentralized organization that runs a growing number of protocols says DeFi’s first vision is “destroyed by greed, inefficiency and sheer inefficiency” – and says a radical new approach is needed to ensure this sector reaches its full potential.

According to Jigstack, the Ethereum landscape is fragmented, with thousands of DApps offering varying degrees of quality. Millions of dollars in user money has been lost, hacked, stolen, or misplaced over the past year – and “everything the industry promised to deliver has not been professionally executed yet.”

The founders of Jigstack say their project embodies the “true vision of DeFi”: a decentralized economy for people and for people. While many competing projects have embraced the slogan of destroying the enterprise and making the financial world transparent, Jigstak argues that most of them simply make money without offering anything beneficial in return.

The team argues that for DeFi to thrive, third-party banks, institutions, and controllers must be outdated – just as Microsoft has successfully used the typewriter by creating an easy-to-use desktop program. As a result, Jigstack’s goal is to create a “secure, reliable, user-focused, and streamlined interface” that describes itself as the “missing link” in this evolving sector.

The power of automation
Jigstack says DeFi needs to free and empower people, allowing them to control their data and capital without restrictions. The draft states that the tools and infrastructure on the market make this nearly impossible, and proposes a top-down approach that meets the needs of only a few.

The project believes automation is the key to providing a seamless, hands-free approach – and in Jigstack everything is controlled by the DAO, which in turn is controlled by the users themselves. He created a series of standalone financial apps, each designed to accomplish a single task, and all operate under one algorithm umbrella.

The project states: “We are not trying to break the rules, but rather forcing them to completely rewrite, and distribute anti-censorship systems without a single point of error.” “Our focus is on systems that demonstrate demonstrable reliability, safety, cost-effectiveness, and fairness. This allows them to be purely democratic for finance, regulation, investment and trade.”

Every product in the Jigstack ecosystem must meet five propositions: It must be trusted, it must be safer, faster, easier and cheaper than the status quo offers.

Source: CoinTelegraph