Decentralised finance is about reconstructing the entire financial system on decentralised blockchains. It transforms centralised, manual, inefficient financial services into automated, blockchain-based programs called smart contracts. For the first time in history, markets don’t need a centralised financial intermediary to connect buyers and sellers. Smart contracts connect them directly. This has seismic implications.
While DeFi networks already manage more than US$200-billion, we are still early in the technology adoption cycle. Mass adoption will follow institutional money, and right now institutions are waiting for regulation and institutional-grade development, both of which are well under way.
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