RE: How DeFi unbanks the banked

[crypto.piotr]

Dear @culgin

Finally I've managed to read your post. I bookmarked it like 2 days ago, to ensure to check it out once I have some free time :)

Fast forward by 3 years, we do not really see much success in that field

On the contrary, I think we can see huge success in that field in undeveloped countries. Where many people have an access to steem/hive wallet. However they do not have own bank account.
I've already met such a people from Venezuela or Nigeria.

ps. I still do not understand difference between DeFi and most ICO. Isn't both mostly working as a store of value?

Solid read, upvoted already.
Yours, Piotr

Comments

[culgin]

Thanks for your comment as usual.

On the contrary, I think we can see huge success in that field in undeveloped countries. Where many people have an access to steem/hive wallet. However they do not have own bank account.

Having a wallet does not give you access to basic financial instruments like loans, insurance, equities and etc. While in most countries, having a bank account mean you can then apply for those financial instruments. Hence a crypto wallet is not equal to a bank.

I still do not understand difference between DeFi and most ICO. Isn't both mostly working as a store of value?

ICO is basically crowdfunding. DeFi is financial instruments build on a decentralized blockchain like Ethereum. They are very different concepts.