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From DeFi year to decade: Is mass adoption here? Experts Answer, Part 1


From DeFi year to decade: Is mass adoption here? Experts Answer, Part 1

Decentralized technologies’ insiders shared their views on DeFi and on the role, achievements and challenges the space faced in 2021.

Alex is a writer, speaker, investor and advisor focused on the impact of emerging technologies such as blockchain and cryptocurrencies. He is a co-founder of the Blockchain Research Institute, a multi-million-dollar think-tank that is investigating blockchain strategies, opportunities and use-cases. 

“The 2020s will be the DeFi decade. Why? DeFi extends Satoshi’s concept of peer-to-peer electronic cash to lending, trading, investing, managing risk and more, all of which are built on top of distributed networks, not corporations. In one year, the DeFi industry’s market capitalization has ballooned 30 times to $150 billion. The total value of user deposits, or total value locked, has surged 100 times to nearly $200 billion. DeFi is maybe the fastest-growing industry ever, but despite its meteoric growth, it’s still very small. According to DeFi Llama and DeFi Pulse, there are perhaps a couple million people using DeFi across various platforms like Ethereum, Solana and Cosmos. The next decade will see a billion people, many of them unbanked, get onboarded to financial markets for the first time ever via DeFi applications. In the same way billions leapfrogged landlines and went straight to cell phones, so too will billions leapfrog traditional banks and go straight to DeFi.”

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