Decentralised Finance vs traditional finance
One of the best ways to see the potential of DeFi is to understand the problems that exist today.
Traditional Finance
⦁Some people are not allowed to open bank accounts or use financial services.
⦁Lack of access to financial services can keep people from finding work.
⦁Financial services can keep you from getting paid.
⦁A hidden fee of financial services is your personal data.
⦁Governments and centralized institutions can close the market at will.
⦁Trading hours are usually limited to the business hours of a particular time zone.
⦁Money transfers can take days due to an internal human process.
⦁There is a premium to financial services because intermediaries need their share.
Decentralised Finance
⦁You own your money.
⦁You control where your money goes and how it is spent.
⦁Money transfers are done in minutes.
⦁Trading operations are pseudonyms.
⦁DeFi is open to everyone.
It is based on transparency: anyone can consult the product's data and check the system's operation.
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