Listen to article The hype around DeFi is not fading away and is only just beginning, said Neo founder Da Hongfei, during a live stream on China's Hub on Sept. 25.Da said DeFi created a process in just a few years that traditional finance took hundreds of years to perfect.
DeFi projects are now experimenting with all sorts of financial products and services.
"Lending and borrowing, decentralized exchanges, insurance and all kinds of derivatives are on the rise in DeFi. The initial stage DeFi infrastructure has a solid good start, and now it is time to see more and more applications to be built and innovated on DeFi.".
According to Da, DeFi has brought numerous new possibilities in the financial arena, including creating a new type of asset that allows users to access cash at any time.
DeFi, Da said, will have a significant impact on future economic life.
He predicts people will not need banks in the future as they turn towards DeFi services.
Da, and Binance co-founder He Yi, revealed in the live stream that Neo and Binance are actively looking into DeFi applications.
One such application is Flamingo, an interoperable, full-stack DeFi protocol built on the Neo blockchain.
Both are also looking to build DeFi infrastructure further.
As Cointelegraph previously reported, China's state-endorsed public blockchain is looking into building a regulatory compliance platform that can bridge global DeFi applications and government regulations.
DeFi hype has just begun says Neo founder
Publicado en Sep 27, 2020
by Cointele | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.