Steem Crypto Challenge. DEFI, THE NEW FINANCIAL WINDOW
Greetings Steeminians friends.
< This week is crytoChallenge's week and so I felt like participating in one of these challenges, which you have to see with DEFI.
I am aware that I do not know much about the subject, in fact I did not know what the word DEFI meant, and now that I have researched a little, I can tell you with certainty that it is something that was necessary in this globalized and centralized world.
DEFI, Decentralized Finance comes to fulfill the same functions as any common banking institution, with the big difference that DEFI is decentralized and does not require intermediaries to generate an intelligent contract between Lender and Client, which would completely eradicate the bureaucracy to be able to obtain a loan, thus facilitating financial services to those users who have not been able to count on the support of the traditional financial system.
The intelligent contracts created by the DEFI, as researched, will be computer coded, which would automate the continuous monitoring of compliance with the terms, however, the information is at great risk in terms of confidentiality due to the vulnerability of these computer codes.
The DEFI have originated from the Bitcoin and Ethereum platforms, which have provided support as a block chain for their functionality based on applications available for their operations.
Therefore, it is very important to know and understand very well about the existing applications of DEFI, and thus have the ability to select and operate correctly the operations to get a loan in the easiest way. Therefore, the contribution, development and growth of DEFI is directly related to the empowerment of society as such, since the population is the one who must increase the dynamics of inflows and outflows of cryptoactives in businesses and exchange houses.
The new financial world is here, ready for us and out of reach of governments, managers and private entrepreneurs, we as a society must take advantage of Blockchain technology to generate our sustainable and safe growth, we just have to deepen our knowledge about the blockchain and connect to the world of financial opportunities.
This has been all for now, I hope to continue providing my point of view on these important issues that @steemitblog, whom I invite to follow and visit its publication Steem Crypto Challenge.
I am grateful for this window of participation that generates a good alternative to develop content of great value to society.
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I too didn't knew that before but while researching on it i got to know many things which are kind of real world challenges of traditional financial system which could get cured by introducing Decentralized Finance system ( Defi ).
Also with the help of this tag SteemCryptoChallenge i got to know much more while visiting different people's post.
#twopercent #pakistan
That's right, my friend, we must continue to learn about these issues and be a multiplier of knowledge.
Thank you for your visit.