Decentralized Finance (commonly referred to as DeFi) is a blockchain based and cryptographically secure form of finance. Inspired after the financial crisis of 2008, DeFi does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to verify any transfer of ownership, lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against…
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@ISIDEWITH3yrs3Y
No
@9N6ZXX36mos6MO
The massive volatility seen across the crypto industry and the widespread criminality of companies like FTX should serve as a warning against adoption of crypto as a national currency.
@ISIDEWITH2yrs2Y
Yes, this could reduce income inequality by providing more transparency and inclusive access to financial services
@9N6ZXX36mos6MO
The financial services industry cannot be relied upon to operate a decentralised financial system in a way that provides a reliable economy for the populace.
@9QFBCDB5mos5MO
There's room and good reasons to have both systems. Some systems need to be private and permissioned while others are better off as decentralised and open source to allow scrutiny and accountability.
No, decentralised finance increases the risk of money laundering, fraud and tax evasion
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
@9B84XHJ2yrs2Y
We should have nationalization on trade.
@96R9KV82yrs2Y
Not yet, wait until the technology becomes more stable and secure, and when the government has its own cryptocurrency.
Move towards abolition of money entirely
@99QYDG82yrs2Y
Online banking should always be under the control of its respective bank, building society or credit union.
Yes, but I would prefer if the protocol was created and secured by the private sector instead of a decentralised protocol
@9CPZJ4J1yr1Y
No, because cryptocurrency requires a substantial amount of energy
@99J34K62yrs2Y
Nationalise said techonlogy.
@96NGL6L2yrs2Y
Don’t know enough about this topic to take an informed position
@95SQ7ZS2yrs2Y
Yes, but allow consumers still to use centralised bank if they choose
@ISIDEWITH3mos3MO
@ISIDEWITH3mos3MO
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@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
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@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
@ISIDEWITH3mos3MO
@ISIDEWITH3mos3MO
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