I am glad you mentioned taking coins back and the transparency of smart contracts. I have yet to complete my own defi article but it will be about the similarities of early trade-based economies.

If we remove finance 2.0 from the digital space and look at the underlying values, we see many fundamentals that do not exist in the current modern financial system.

Peer to peer is often mentioned but it is rarely explored sufficiently. I hope to do it some justice in my own article. The power to take back coins illustrates this. One of the most powerful aspects of the banking system is for those in power, whether they be governments or large corporations, to deny service to their justified or competitive enemies.

In a decentralized financial system, the participants would be more plentiful and on a more equal playing field. This would result in such powers as leveraging contract transparency and the variable allocation of cryptocurrencies to be more useful as a trading mechanism rather than an authoritative one.

Such fundamental characteristics would encourage participation and efforts to grow the system rather than depressed or propped up economies.

#onepercent #usa