DeFi Is A Frightening Prospect For The Banking Industry, But It Doesn't Have To Be
At its dawn, internet skeptics were overtly critical, highlighting their distaste for the technology. Acclaimed astronomer Clifford Stoll asserted the idea that ‘commerce and business will shift from offices and malls to networks and modems’ was ‘baloney’, and the potential for the internet was nothing more than a hype train traveling too fast for its own good.
How DeFi Will Help the Unbanked Worldwide
Of a global population of over 7.8 billion, it was estimated that 1.7 billion people have limited or no access to financial services, and therefore limited or no access to many corresponding opportunities. Simply receiving and sending money to friends or family becomes an impossibility for the “unbanked.”