Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Pagla on February 18, 2022, 09:22:32 AM
-
Niall Ferguson, one of the most prominent living historian of finance, has called decentralized finance (defi) a genuine revolution.
“DeFi looks like a bona fide financial revolution, taking advantage of new technological possibilities to reduce transaction costs in exciting ways,” Ferguson said.
He wasn’t referring to plain transaction costs, more to new capabilities to finance commerce, citing as an example the invention of the bill of exchange in the 1300s which he describes as “a simple piece of paper which extended credit from one merchant to another, typically for a period of several months, corresponding to the time it took for an item to be transported from port A to port B: in effect, an IOU.”
More Information (https://cryptonews.net/en/news/defi/3169351/)
-
Looking at DeFi with open eyes and that search for understanding, one can easily recognize the big potential of this "revolution" to really engage people in the industry of money, banking and finance. Of course, there are some bad actors that can put some black eyes which can be discouraging sometimes but overall we know that DeFi - today and with more improvements into the future - will really be an unstoppable force for the benefit of humankind.