Decentralised Finance (DeFi)
Knowledge Share
New Normal, Digital Transformation, Industry 4.0
Trust | Transparency | Traceability
Decentralised Finance (DeFi)
23 March 2020 | Blockchain, Fintech
During this challenging calamity period of COVID-19, many domain areas in the market are operating on contactless and digital mechanisms reducing the space and time of physical interaction or real-time meetings and confrontation. A lot of traction and improvements are visible in Neo Banking, Contactless Delivery, Work from Home facilities etc. A lot of these things are building upon Digital Infrastructure. Nowadays, banks have issued briefings and notices to customers to focus on more usage of digital facilities rather than physically coming up to the branches.
In the last ten years, Fintech 2.0 or Decentralized Finance(DeFi) has been slowly chipping away at banks’ profits by cutting out intermediaries and serving customers directly. 2019 was the year of Decentralized Finance (DeFi). Neo banks focused on creating a better banking interface using open banking APIs or building a core banking system. The objective with DeFi is to build a multi-faceted financial system native to crypto that recreates and improves upon the legacy financial system. DeFi now represents a new fintech wave, and DeFi neo banks will play a pivotal role to successfully bridge the gap between fintech and DeFi to attract new customers.
Decentralized Finance is a brand new monetary system that is built on public blockchains. The components of this finance model consist of protocols, digital assets, dApps and smart contracts, which are built on Blockchain. Before introducing blockchain solutions, the term “fintech” was widely applied to companies that provided modern-looking interfaces while still depending on legacy financial technologies used by banks (ACH, SWIFT). DeFi represents a broad category of financial applications developed on open, decentralized networks. DeFi has grown into one of the most active sectors of Blockchain with applications ranging from stable coins, decentralized exchanges and wallets, to payment networks, lending and insurance platforms.
The Decentralized Finance (DeFi) market is growing and moving forward. Virtual currencies are expanding, and the DeFi market uses this opportunity to reach a more significant number of users. Let’s hope this kind of crisis will enable more such technology to be adopted sooner entirely under Neo networks with digital infrastructure built upon Blockchain.
Reference
https://www.coindesk.com/when-defi-meets-neo-banking-this-thing-gets-interesting
Author: Prateek Bebortha
SAATRA Capital Advisory LLP
- ESG Beyond the Reports March 21, 2024
- The Kenko Eggs A Case Study February 18, 2024
- New Frontier : Carbon Broader Adjustment Mechanism (CBAM) January 27, 2024
- Sustainable Transformation Future ESG Management January 21, 2024
- EUDR Compliance in Indian Trade January 7, 2024
- The Indian Coffee Story : Brewing Harmony December 16, 2023
- The Rubber Story : Between Growth and Sustainability December 10, 2023
- The 4R Strategy : Roadmap to Sustainable Growth December 3, 2023
- Sustainable Indian Coffee: A EUDR Perspective November 10, 2023
- Climate Tech and SDGs: Unlocking Potential October 21, 2023
- ESG Scorecards : TRST01’s Vision October 11, 2023
- The Imperative of Carbon Accounting October 8, 2023
- TRST01Chain on International Coffee Day October 1, 2023
- Footprint Lite – Embracing SME September 24, 2023
- Footprint ESG – Embracing Enterprise September 14, 2023
- Empowering Tomorrow: Innovation, Pivoting, and Sustainability at TRST01 August 27, 2023
- TRST01Chain for Scope 3 Reporting August 12, 2023
- Intelligence of AI with Footprint by TRST01 July 23, 2023
- Generation Z’s Impact on Climate Action July 17, 2023
- Assessing Sustainability: ESG Scorecard Model July 8, 2023
- Introducing TRST01Chain June 26, 2023
- QR Codes and Blockchain Technology June 22, 2023
- EUDR and Sustainable Procurement: The Role of TRST01 June 7, 2023
- Footprint by TRST01 : Revolutionising ESG Reporting with AI and Blockchain May 17, 2023
- Sustainability Unleashed: Carbon Footprints, Web3, and ESG in Climate Action April 26, 2023
- The Web3 Revolution in Food & Agriculture Supply Chain Management with TRST01 April 12, 2023
- Supply Chain Sustainability: Leveraging TRST01’s Web3 Framework to Reduce Carbon Footprints April 12, 2023
- Web3 Setting the Stage for Net Zero! April 1, 2023
- Engaging GenZ in the Metaverse to Conserve Forests March 19, 2023
- Here’s Why Data and Climate Action Go Hand in Hand! March 10, 2023
Share Blog on: