DeFi: A Financial Revolution
It is no secret that decentralized finance is a massive force to be reckoned with. At first glance, it looks like a giant scam set up by degenerates here to piss everyone off. You know, the ones in the back of the class who are unable to contain the bullshit spewing from their mouths, pissing you off exponentially by the minute as you are trying to listen to the lecture, who then later in life become millionaires by sheer damn luck. Well, come to find out these degenerates are on to something. After attaining more knowledge and insight, it is clear that decentralized finance is actually here to revolutionize our global financial system for the better.
After attaining more knowledge and insight, it is clear that decentralized finance is actually here to revolutionize our global financial system for the better.
Decentralized finance, also known as DeFi, is a system where financial products are available on a public decentralized blockchain network, as opposed to a centralized network where a select few leaders make all of the decisions, allowing manipulation and corruption. Our financial system has been built on backroom deals and secret handshakes among an elite few, creating an avalanche of dilemmas.
History has proven the consequences of financial centralization through several devastating events, such as the 1929 Black Friday, 1989 S&L Scandal, 2002 .com crash, and the GameStop Stock Scandal. Many of us can attest to this with our personal experience of the 2008 financial crisis, caused by centralized Wall Street giants controlling a financial sector and refusing to follow through on their end of the bargain. Do you see the pattern? Centralized agencies have lied to the masses out of greed, encouraging us all to invest our hard earned cash, simply to pull the rug from under us. This concentration of power creates victims, inhibits accountability, and stagnates evolution and innovation.
DeFi grants and disperses power to the people, eliminating the possibility for corruption. It offers more security with the use of blockchain technology. DeFi offers financial products that are available to anyone without the need of a financial advisor, bank, or brokerage. This structure allows for peer to peer interaction and trading. Instead of dealing with the middleman of a company or institution, the middleman in DeFi is open source code which is collectively owned and operated by the community. With the security promised by blockchain technology, smart contracts, and opportunity for rapid innovation and creativity, decentralized finance is growing exponentially and the time to get involved is now.
In short, decentralized finance networks are driven to disperse power among users. It is a tool that allows financial products to become easily available to anyone without the corruption of a centralized agency. Decentralized finance is a revolutionary and necessary step in the direction of true financial freedom for the people. For many, the idea of decentralized finance can be a bit alarming as it goes against traditional government institutions, but I can assure you it is a system here to benefit us all. Look at it as an exciting new chapter of the world of finance and a chance to partake in something revolutionary.
