The Alliance’s declared goals and focus are centered around economical aspects of the Free TON DeFi ecosystem: liquidity accumulation, new partner businesses engagement, bringing new projects and products to be built in Free TON blockchain, marketing and promotion, and new development teams support. The Alliance, also, sets a goal to become a security and auditing center of expertise, which is very important in the DeFi field.
The rapidly growing trend of decentralized finance – also known as DeFi – is progressively gaining the attention of mainstream media, especially as the seemingly parallel world of cryptocurrencies and the blockchain keeps impacting the real economy and the way people make transactions nowadays.
That said, a big step to keep demystifying decentralized finance involves explaining how this trend can shape the banking sector as we know it. With that particular purpose in mind, the following article aims to explain how DeFi can change banking and whether that means – or not – that financial institutions will cease to exist if the technology is adopted at a global scale.
New York has rolled out a so-called COVID-19 passport based on IBM Corp.’s blockchain-based digital health pass technology. The app, called “Excelsior Pass,” is the first of its kind to go live in the U.S. It will allow people to use a QR code to prove their COVID-19 vaccination status.
In a growing trend, some venues are now requesting proof of vaccination for entry, and in New York state, those who have been vaccinated can hold larger gatherings such as weddings.
Natural Stacks®, a fast growing supplement company in the brain health category, has further improved its already industry leading supply chain transparency program by placing ingredient supplier information and 3rd party lab test results on the HealthLoq™ blockchain.
HealthLoq is a breakthrough blockchain project that allows nutraceutical companies to publicly share ingredient sourcing information for all of their products. Placing this information on the blockchain provides customers and the general public with transparent, tamper proof, trusted data about products and the companies that helped make them.
“We have deployed an ION node to our production infrastructure and are working together with other companies and organizations to do so as well,” said Daniel Buchner of Microsoft’s Decentralized Identity team.
Imagine a world in which moving money is as easy as sending an email or a text message, without an institution as the intermediary or a regulator as the watchdog. As Circle CEO Jeremy Allaire told Karen Webster, it’s a world that exists today mostly for institutional investors and savvy crypto traders who have embraced the decentralized finance (DeFi) ethos — the power of software, programmable contracts and blockchain infrastructure — to create the cornerstone for a new, accessible, internet-based credit market.
According to Allaire, the combination of DeFi and CeFi — blockchain-powered payments that provide a regulated intermediary for those with a different appetite for risk — will be a critical trend to watch as the intersection of FinTechs, blockchain-based payments and finance platforms promise to bring financial services to the masses, globally and at scale.
Open finance refers to the trend of fintech companies using APIs to build apps that integrate with banking in the traditional financial system. The resulting solutions improve data transparency to enhance service offerings and empower consumers to make better financial decisions.
However, these entities remain grounded in existing centralized infrastructure and fiat currency. In contrast, DeFi applications — which exist on the blockchain — use cryptocurrency and smart contract functionality to eliminate intermediaries and facilitate consumer autonomy.
I’ve been interested in cryptocurrencies since the early 1990s. In many ways, my interest stems from my experiences growing up in Greece. I saw the way a currency crisis could wipe out the wealth of an entire generation and it had a big impact on me.
But I would say that my current interest in cryptocurrencies was rekindled in 2012 when I re-discovered bitcoin and began to look into its capabilities in more depth. I am a strong believer in the promise of the Internet to help to re-organize society around global network-centric institutions as opposed to hierarchical structures of power. I view money as simply the latest frontier for the Internet.