An overview of fintech and cryptoassets
Another aspect to follow – DeFi
Decentralised finance (DeFi) involves building decentralised financial services on a blockchain. The activities found within DeFi are largely the same as those in the traditional financial system, such as lending. However, instead of regular currencies, cryptoassets are used. In DeFi , there are no financial intermediaries such as banks, and no entity overseeing the system. The DeFi market has expanded and cryptoassets worth around USD 110 billion are currently used within DeFi. The market is unregulated with low or non-existent consumer and investor protection.
Published: 19 May 2022