DeFi ECO - the beginning of a new financial system that is global, permissionless and Internet-enabled.
Contents:
Description of DeFi ECO
DeFi - a system of open, unauthorized and interconnected financial products, built with a focus on borrowing, lending and banking. Benefits:
| Autonomy | The money and assets, that you own in the DeFi ecosystem, are yours alone. There is no centralized authority with the ability to block your account, seize your assets or block your transactions. |
| Availability | If you've been active in the digital asset industry for a while, you've probably heard of the 1.7 billion unbanked people. Without access to bank accounts, these people are at a disadvantage because they cannot take advantage of many financial opportunities. Since DeFi apps work without expensive middlemen, they can afford to contact these people. |
Synthetic assets, also known as tokenized assets, are another aspect of DeFi that brings tremendous value. By creating tradable tokens that are part of a real estate investment, you open up investments to people, who could not afford it before, potentially having access from anywhere in the world.
DeFi data is publicly available, allowing you to maintain the integrity of service providers. For example, you can easily check DeFi bank reserves, find accurate loan rates, or even track public person transactions.
How to use?
You will know your transaction (KYT) and compliance. Similar to the customer and counterparty verification (KYC) process, blockchain-based DeFi solutions allow businesses to easily track, analyze and verify transaction details to prevent fraud and comply with regulatory requirements now. Moreover, you can track the value, recorded in the DeFi protocols. Programmable proof-of-use standards for token networks even out incentives during network launch and minimize passive speculation by ensuring that tokens end up in the hands of real users.
Additional information
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