Knowing the unknown
Around a decade ago, the global Decentralised Finance (DeFi) movement started to develop financial applications that no longer required traditional central financial intermediaries such as banks and exchanges.
The DeFi movement is based on the disrupting perspective that existing financial products and services can be recreated, utilising a decentralised architecture, that operates without the control of centralised companies and governments. Instead, the products and services leverage existing technology-based protocols, smart contracts and cryptocurrencies.
In effect, DeFi can offer anyone with an internet connection access to a global and open peer-to-peer alternative to the current financial system. As such, DeFi has significant disruptive potential and is poised to impact the current financial system and its players.
As such, DeFi has significant disruptive potential and is poised to impact the current financial system and its players in markets such as international remittance, lending and borrowing, derivatives, payments and asset transfer.
How INNOPAY can help
At INNOPAY, we are monitoring the developments in the emerging DeFi market very closely. If you want to learn more about how blockchain is disrupting the financial services industry or how to develop DeFi products for your company, contact INNOPAY and we’ll be pleased to help.