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RE: What should we do about all this DeFi stuff?

in Project HOPE8 months ago

Dear @achim03

Another great piece, absolutely worth my time and attention :)
Solid read. Already upvoted and resteemed.

The problem with crypto (one that I've always seen) is that it's not only store of value = digital version of stocks (which is okey with everyone, including central banks, regulators, politicians). But it's also challenging current monetary system.
Which is the biggest power out there

All crackdowns in 2018 done in various countries were the result of central banks looking at crypto as a hostile technology. If DEFI will be challenging traditional banking system, then ... crypto industry will have powerful enemy. Enemy, which this market is just to small and to weak to handle and conquer.

To wrap it up: I'm not sure if crypto space is ready for DeFi. Time will show.


The other serious issue I see with DeFi is the fact, that learning curve is very steep. And it seem that it's much easier to explain ICO, STO and even Masternodes.
Just like you said: The problem here is that probably 90% of all the users don't get what it actually means.

As long as it will not change - I would expect DEFI to be nothing but another hype. Which will die down one day and will be forgotten. Just like STOs and Masternodes were.

Enjoy your day buddy,
Cheers, Piotr

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 8 months ago 

Thanks a lot for your great comment Piotr. I greatly appreciate. I see that in the long run DeFi could become a valid competition for banks but I totally see your point. When the people in power start to feel threatened by the technology a new witch hunt may be started by politicians and the bank lobby.

I think that the difference between Ico, STO and DeFi is that with DeFi we have not simply nice whitepapers but real technology that is being tested. As with former hypes not every project went down the hill. Some ICO became nice businesses and probably there will be soem DeFi platforms that are here to stay...

Have a nice day!