Welcome to our Investor’s guide to cryptocurrency. In this fifth part, we will learn how Decentralized Finance (DeFi) launched an open financial system. Removing the middleman from the equation set us on the right path to the future of finances. Continue reading to find our way into cryptocurrency investing.
Over the past year, we have seen many developments in cryptocurrency adoption. From a wide range of companies adopting the blockchain to the first country accepting Bitcoin as legal currency. Significant steps for the development of cryptocurrency, but still a long road to mass adoption.
At Hodl we believe we are starting a significant disruption of our financial system. However, it does not stop there; we believe cryptocurrency will give people a chance to re-evaluate what value means and how and how they can transfer it worldwide.
Cryptocurrencies can offer unbanked people a chance to participate in a global world economy. It creates more financial opportunities for those who do not have the resources others have. Currently, more than 1.7 billion people are still unbanked. Cryptocurrency can offer them an easy way to access the financial system through a few clicks on their mobile phone.
As we have already seen, cryptocurrencies provide greater possibilities than just payments. Thousands of projects have emerged with each their own application.
Cryptocurrencies can offer safer means of transporting data, registering ownership, improving supply chains, and much more. This makes blockchain technology and cryptocurrencies interesting for various industries, from healthcare to government and from agriculture to modern businesses. We foresee a future where cryptocurrency is integrated throughout all layers of society.
Specific cryptocurrencies are already tokenizing stocks. These projects make it possible to have financial markets that are instantly global and open 24/7. We believe that cryptocurrency’s efficiency will attract capital, as capital flows to where it can be most efficiently used.
We cannot predict the future; however, looking from a technological perspective, the future of cryptocurrencies is as inevitable as the intertwining of the internet in our daily life.
In this article, we dived into DeFi, one of the key elements in the crypto industry. It enables an open financial system that saves us time and resources. This system allows us to store value in a cryptocurrency, but also manage our assets or relied on DeFi insurance, among other DeFi services. In the next article, The investor's guide to cryptocurrency [part 6], we will explore the essential steps to consider when investing in cryptocurrencies.
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