Bitcoin (BTC) is the future, it will shut down banks, make fiats obsolete, challenge the established financial order, etc. Now it’s DeFi’s turn to enjoy such a promo. Will we succeed in decentralizing all of traditional finance? Is DeFi a bubble that will eventually explode or, on the contrary, do we have every reason to be optimistic about its future?
The DeFi of innovation
The CEO of Neo, Da Hongfei, believes that DeFi is only in its infancy and has a bright future ahead of it.
In a livestream on China Hub, Da Hongfei, explains that DeFi had created in a few years what traditional finance took years to build.
Loans and borrowing, derivatives and decentralized exchanges are mechanisms for which the interest of users continues to grow.
According to him, the starting infrastructure of the DeFi was solidly designed and, it’s time to design new applications and experiment with new innovations.
Da Hongfei explains that one of the major possibilities DeFi brings is the creation of a type of asset that allows users to access cash at any time.
As such, DeFi will have a significant impact on the future of the economy: the CEO of NEO is convinced that in the near future, banks will become useless if citizens choose to turn to the services offered by DeFi.
China illustrates this change as many citizens prefer to use Alipay or Wechat to perform certain banking transactions.
Da Hongfei and He Yi, co-founder of Binance, revealed during this livestream that Neo and Binance shared the same interest in DeFi applications.
The application Flamingo, for example, developed on the blockchain of Neo, allows users to participate as traders, stakers or liquidity providers.
Flamingo is listed on the Binance Launchpool since September 23, 2020.
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Neo will disconnect us from the traditional finance matrix with Binance. A world without banks, at least in their current form: would this really sign the end of dubious practices of current financial institutions or are we in reality the wrong adversary? DeFi for a democratization of finance: unless it becomes just a big deal, with all the drifts that go with it, when greed ends up winning over the initial ideals.
Litecoin, welcome in the Silver Age