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What is a DeFi platform and its uses? - Jenco Tech

According to an analysis report by JENCO, "utilizing DeFi is more beneficial since users do not have to follow centralized rules. Direct, peer-to-peer exchanges can occur, given that various values are agreed upon irrespective of the current offline values. Dealers or third-party mediators can also be utilized. However, transactional prices are significantly lower than when using traditional and offline institutions."<br>

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What is a DeFi platform and its uses? - Jenco Tech

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  1. What is a DeFi platform and its uses? In the past few months, one of the most popular domains in the cryptocurrency and blockchain space has been decentralized finance (DeFi). All eyes are focused on developing DeFi products that can decentralize the current economic and financial system. In its simplest form, decentralized finance is the merger of traditional financial services with decentralized technologies such as cryptocurrencies and decentralized applications (dApps). In a more profound sense, DeFi refers to the amalgamation of all the decentralized products and services such as smart contracts, protocols, applications, and digital assets. According to an analysis report by JENCO, "utilizing DeFi is more beneficial since users do not have to follow centralized rules. Direct, peer-to-peer exchanges can occur, given that various values are agreed upon irrespective of the current offline values. Dealers or third-party mediators can also be utilized. However, transactional prices are significantly lower than when using traditional and offline institutions." JENCO is a decentralized financial service platform that aims to enable and help more retail investors. The company aims to introduce the importance of allocating a portion of investors' assets in this emerging market, decentralized

  2. finance. JENCO believes in the power of decentralized finance and how it can affect the traditional financial economy. To understand what DeFi is, let's compare the current economic system we have. There is a central authority at the core of every economic system, such as central banks and governments in traditional finance. Most of us trust that the government will maintain our currency's value, that banks will take care of our deposited money, and public companies will provide the best return on our investment. But this means that we are dependent on these authorities. That's why a decentralized currency, Bitcoin, was developed in 2008. What decentralized finance is doing is trying to advance the principles of self- sufficiency by creating a financial system that is open to everyone and does not ask its users to place trust in it. The main aspect of DeFi is its "trustless" functionality. This allows everyone to take charge of their assets and investment and directly call on what needs to be done with it. You decide everything on your own; central authorities don't need to decide for you.

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