Decentralized Finance in 2020–DeFi
DeFi has been a long-term hot topic in the blockchain since early 2019. Platforms and products for DeFi services have sprung up all over the place. Throughout the evolution of cryptocurrencies, the evolution of cryptocurrencies has been accompanied by Chaos and hope, as if to create a spotless Lotus in the mud, one of which is now called DEFI, is considered to be one of the development prospects of the current blockchain. Arguably, 2019 is Defi’s year.
DeFi is short for Decentralized Finance, which translates to Decentralized Finance. And FinTech is a acronym for Finance Technology, called FinTech. The Global Fintech Symposium, hosted by the Consensus Alliance, was successfully held in New York at the end of March.
In the seminar, Mr. Earland Anthony proposed that in the traditional financial system, financial services include financing investment, savings, credit, settlement, securities trading, commercial insurance and financial information consulting, are provided to users by centralised financial institutions.
Users who want to use these services must go through the financial institutions and accept the complex terms and conditions of the institutions. Whether and when the service can be completed depends on the efficiency and security of financial institutions, which is the main disadvantage of centralized financial system
Blockchain technology gives users new hope. The decentralized nature of cryptocurrencies has made it possible for wealth to circulate freely, thus reactivating the idea of a decentralized financial system:
Our wealth is now at our disposal, and can financial services be provided freely without the participation of centralised financial institutions? The answer is yes.
Co-creation, sharing and co-governance are the basic values of the consensus alliance. The Consensus Coalition’s vision is to create a global decentralized financial complex.
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