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Author Topic: Decentralized finance (DEFI) and its solutions.  (Read 192 times)
jamesndungu1 (OP)
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August 31, 2019, 10:48:40 AM
Merited by hugeblack (1)
 #1

Decentralized finance is bound to offer solutions such as wider access to financial services where anyone with an internet connection and a smartphone could access financial services. Current centralization of financial institutions in Africa has caused about 350 million people to be unbanked due to their locations across the continent. It’s not only location but also incredibly high amounts of funds required to access financial services in most countries across Africa. This could be the solution to solve all of everyone’s economic currencies.

Another thing is that decentralized finance gets rid of costly intermediaries required to make remittance services more affordable for the African population. The high fees involved when sending money across borders hinders a lot of things including making it a challenge for Africans to get paid for work, they do with people abroad like for instance the common online writing jobs.

DEFI guarantees maximum privacy and security as a person will have control over their wealth and can carry out transactions without approval from third parties. Unbanked people in Africa ought to get all their financial problems solved now.

In such a system, transactions are immutable, and blockchains cannot be shut off by central institutions like central banks or elite corporations. Most Africans can relate to wanting to protect their wealth from government manipulation and hyperinflation, the likes of those in countries such as Zimbabwe.

The ease of use of this system is amazing. Imagine yourself, in Africa, for example, Kenya, receiving a loan from the U.S, investing in a business in Australia and then paying off all your debt and purchasing a house, all through interoperable apps!
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carter34
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September 04, 2019, 06:33:11 PM
Last edit: September 04, 2019, 06:45:56 PM by carter34
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The ease of use of this system is amazing. Imagine yourself, in Africa, for example, Kenya, receiving a loan from the U.S, investing in a business in Australia and then paying off all your debt and purchasing a house, all through interoperable apps!

You killed it with this.  Grin
Not only Africa having that benefit of a decentralized economy, system or what other good name you want to call it. Asia, Europe, America and other continent are in with this and surely everybody can attest to this and even the government.

Another thing is that decentralized finance gets rid of costly intermediaries required to make remittance services more affordable for the African population. The high fees involved when sending money across borders hinders a lot of things including making it a challenge for Africans to get paid for work, they do with people abroad like for instance the common online writing jobs.

Intermediaries? Just say the banks Grin They are really ruling of flesh. They come with different policies all in the name of serving people better but that isn't true because it goes it inefficient and high fees for your transactions.
Drahzar
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November 25, 2020, 07:13:22 PM
 #3

seriuosly ? looks like we live in 2025 defi opportunities)) as I see, defi market as soon as its infrastructure now is in the early development stage, and as the best and well-developed solutions only defi exchanges could be named only
retalids
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November 25, 2020, 08:51:54 PM
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seriuosly ? looks like we live in 2025 defi opportunities)) as I see, defi market as soon as its infrastructure now is in the early development stage, and as the best and well-developed solutions only defi exchanges could be named only
totally agree with you, defi exchanges at least have good volumes and could be really interested for trading and investing... just today read interesting announce about xsigma exchange, based on curve - looks great
tuchenvi
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November 26, 2020, 02:16:09 AM
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seriuosly ? looks like we live in 2025 defi opportunities)) as I see, defi market as soon as its infrastructure now is in the early development stage, and as the best and well-developed solutions only defi exchanges could be named only
totally agree with you, defi exchanges at least have good volumes and could be really interested for trading and investing... just today read interesting announce about xsigma exchange, based on curve - looks great
xsigma might be successful one, it's backed by a public company trust and they has profitable tokenomics
zasad@
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November 26, 2020, 11:41:28 AM
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seriuosly ? looks like we live in 2025 defi opportunities)) as I see, defi market as soon as its infrastructure now is in the early development stage, and as the best and well-developed solutions only defi exchanges could be named only
Have you studied all the possibilities of DEFI well?
https://defipulse.com/
If you look at the statistics, then 7 million Ethereum coins are locked not only in trade.
Interest in this ecosystem has fallen, but this does not mean that there are no interesting projects there. When cross-chain projects start working, interest will start to increase again.
franky1
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December 09, 2020, 02:34:32 PM
 #7

i have not looked into the brank "defi" much. most of it is just pumping ico and schemes for investment with no sustainable end project.

however the term 'decentralised finance' has some interesting projects. such as how they see LN as not the best solution for money transactions due to the problems of opening and closing channels. so trying to find new custodial methods/services to handle the onramps-offramps in and out of LN has become a big 'business' for developers.
things like shadow chains that hold the atomic swappable sessions values.

i mention this because yes sidechains/shadowchains/ other offchain services/tech will become more apparent/popular.. but people need to know that playing with all these off chain solutions means they are not playing with their real assets. just token representations of their assets.

yes africans may finally be able to play around with millisat transactions at micro penny fee's to buy things. but they are not holding the true assets as they are a few layers away from the real asset holding chain.
thus they are just playing with iou pieces of paper in a digital world. and they are not the real gold/bitcoin holders of the real asset world

i do truly understand the benefit of digital solutions to daily trade. but if africans dont get good access to the underlying asset. due to mechanisms designed to keep them away from collecting the true asset at the end of the day/week. then its not going to solve their problems.

its like the difference between an african farmer thats just an employee on a 'big agri' plantation. vs an african farmer that owns the farm.

its the employee model. 'you work the land but not own the land'
and 70 years of african history has shown the downside of taking the asset and just given them token gestures of the same thing have ended up
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