The programmers have found a way to replace the usual services offered to Wall Street and the army of corporate lawyers with 800 lines of smart contract code.

De in DeFi stands for decentralization, which means that there are no intermediaries in the process. Despite the tough and flawless user experience, billions of dollars in assets flow through new decentralized applications every day.

We are just at the beginning of a budding DeFi bubble, and there are already tokens worth more than Bitcoin (BTC). Some of them are nothing more than a name, a symbol and smart marketing. Shrimp, hamburgers, pasta and sushi have reached very high standards, and many of these tokens have sequels. This is madness outside the ICO bubble in 2017.

Can things be bad, or can this technology be used forever?
Everything that can be coded can end up in the DeFi app. The pace of development is intense. Great new projects appear every day – one day DeFi can be bigger than the Internet. Now anything is possible.

Peer-to-peer funding also runs in the background. It provides financial services to people based on real utility issues such as payments, money transfers, wealth preservation and trade. For example, people in emerging markets like Africa and India earn the most. All DeFi trading is inherently peer-to-peer, as happens on the blockchain.

Imagine a pure version of DeFi where we can link paper money like dollars and all the world currencies. Why does the world need it? Remember what “no friction” is when you board? This is actually a huge added value because over 40% of the developing countries we serve cannot offer relevant Know Your Customer services because local KYC solutions are not well integrated or designed, in fact many people have no identity at all, which is a another possibility. Give financial inclusion to more people.

1.7 billion people lack access to traditional financial services. If Bitcoin is the first level, then DeFi is the second level, and the personal level offered by P2P is the third. This human-supported decentralized money transfer market only needs the seamless internal process that decentralization brings.

Another major advantage is the possibility of decentralized pricing. The current decentralized exchanges cannot do this because they use the “Oracle” price from the centralized exchanges. However, human-driven decentralized markets can offer P2P encryption-based bidding for paper transactions. This can give us the real value of Bitcoin against the dollar, which will be of immense value to people in hyperinflationary economies like Zimbabwe or Venezuela, where people often have to check many different sources.

Additional price discovery forms can be created on top of the exchange template exchange rules. Here you can find a hidden product that will change the world; This type of price discovery will be the new normal and potentially redefine geopolitical power.

Remember we are in a bubble, but when it bursts, the next bitcoin bullish trend will start, so get ready. While the world is plunging into chaos, just remember that “it is good to be in the world of cryptocurrency”, as cryptocurrency is a defense against the collapse of the financial world. Bitcoin and Ether are very reliable because they now serve as real utility items.

DeFi tokens play with fire and can burn. Those who win this game always buy, remember and check the price. Bitcoin will always be the backbone of the crypto economy and will continue to grow. DeFi will complete the work started by Bitcoin.

Source: CoinTelegraph