The new basis of trust
Posted: Tue Dec 17, 2024 4:11 am
I can still remember the moment that I was allowed to pick up a Penniemaat at the Postbank with my father. It became the place for all the stuivers, guilders and rijksdaalders that I collected from all possible corners, to save for a music recorder. The financial world has developed rapidly since then, the transfer card booklet has made way for Tikkie and iDeal, trillions are sent every day all over the world and banks no longer have the monopoly on financial transactions.
If you dive into the wonderful world of DeFi, you will come across the most bizarre project names: Sushiswap, Spaghetti, Pancake and techniques such as Yield Farming. Developments are moving at a rapid pace. For example, the Yearn.Finance project was once worth $40,000 per token , a multiple of the value of Bitcoin, which currently fluctuates around $10,000.
The total market cap of DeFi projects has quickly reached $15 billion and continues to grow, although like the general cryptocurrency market, it is also subject to significant volatility. For example, the YAM project rose to $500 million in value within a day and almost collapsed again a day later.
Money is about trust. Trust that the physical Euros are worth indonesia telegram data what they say, but also that the money is safe in a bank. That trust has fallen sharply in recent years since the credit crisis and according to Edelman's authoritative 'trust barometer' , the financial sector is one of the global sectors that people trust the least .
The trillions that are currently being printed by governments worldwide to tackle the corona crisis and its consequences, also provide more breeding ground for the Libertarian-anarchist ideology. This promotes absolute freedom , including a monetary system without the influence and control of governments and banks.
The rapidly maturing cryptocurrency industry is a perfect fit for this, and the widening gap in access to financial products (1.7 billion people worldwide currently do not have access to financial products such as a bank and savings account) is causing DeFi projects to spring up like mushrooms.
DeFi: Open Financial Network Without Intermediaries
The name says it all: decentralized financial instruments, such as loans, savings and insurance, but also trading. An open financial network, which in principle offers the same products but without an intermediary. Peer-to-peer . Bitcoin started with this purely for payments, DeFi adds other financial products.
If you dive into the wonderful world of DeFi, you will come across the most bizarre project names: Sushiswap, Spaghetti, Pancake and techniques such as Yield Farming. Developments are moving at a rapid pace. For example, the Yearn.Finance project was once worth $40,000 per token , a multiple of the value of Bitcoin, which currently fluctuates around $10,000.
The total market cap of DeFi projects has quickly reached $15 billion and continues to grow, although like the general cryptocurrency market, it is also subject to significant volatility. For example, the YAM project rose to $500 million in value within a day and almost collapsed again a day later.
Money is about trust. Trust that the physical Euros are worth indonesia telegram data what they say, but also that the money is safe in a bank. That trust has fallen sharply in recent years since the credit crisis and according to Edelman's authoritative 'trust barometer' , the financial sector is one of the global sectors that people trust the least .
The trillions that are currently being printed by governments worldwide to tackle the corona crisis and its consequences, also provide more breeding ground for the Libertarian-anarchist ideology. This promotes absolute freedom , including a monetary system without the influence and control of governments and banks.
The rapidly maturing cryptocurrency industry is a perfect fit for this, and the widening gap in access to financial products (1.7 billion people worldwide currently do not have access to financial products such as a bank and savings account) is causing DeFi projects to spring up like mushrooms.
DeFi: Open Financial Network Without Intermediaries
The name says it all: decentralized financial instruments, such as loans, savings and insurance, but also trading. An open financial network, which in principle offers the same products but without an intermediary. Peer-to-peer . Bitcoin started with this purely for payments, DeFi adds other financial products.