Are you a crypto investor looking to get into DeFi but blocked by the lack of institution-al features such as Know Your Customer (KYC), Anti-money Laundering (AML), and insured crypto custody capable of sup-porting DApps? Or are you a DApp developer looking to add such features to your project, but haven’t found tangible solutions? Read on!The crypto economy is evolving at lightning speed.
Bitcoin is just over 10 years old and Ethereum emerged in 2013 promising a wider range of applications. In that short time, we progressed from a single decentralized virtual currency to smart contract-based blockchains supporting thousands of different crypto assets.However, no economy can survive with just asset issuance and transfer. You need payments, exchange, lending, borrowing, hedging, etc.
At first, this was solved by centralized systems, but that brought back old issues – the proliferation of intermediaries, the need to reconcile, lack of transparency, and reliance on central operators.Fast forward to today and we see the emergence of DeFi applications that offer the same capabilities as current centralized ones, but now in a decentralized manner (DApps).
In fact, using blockchains as back-end infra-structure to power common financial instruments is be-coming one of the most popular uses for smart contract applications. The DeFi movement is gaining momentum as popular decentralized protocols like MakerDAO, Compound, and Synthetix grow user adoption with their ability to facilitate peer-to-peer capital markets.
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