The hype around DeFi will not be blurry and we are only seeing the beginning of the big things that are about to happen, Neo founder Da Hongfei said while speaking on a live broadcast conducted by China’s Hub on September 25
Da said DeFi built a system within a few years that the mainstream financial industry took several hundred to perfect
DeFi companies are now testing all kinds of financial products and services He added that:
« Lending and borrowing, decentralized trading, insurance and all kinds of derivatives are on the rise at DeFi The early stage DeFi infrastructure has a good start, and now is the time to see more and more applications to build and innovate on DeFi «
According to Da, DeFi has paved the way for countless types of opportunities in the financial arena, including the development of a new type of asset that allows users to access cash at any time. DeFi, Da said, will have a huge effect on future economic activities
He predicts that banks will become useless in the future when they start using DeFi services And such a situation already seems to be happening Citing China as an example, Da said:
« The Chinese have more or less done this, probably with banks, with Alipay and WeChat, at least by adopting this kind of financial behavior without going to the bank »
Da and Binance co-founder He Yi revealed live that Neo and Binance are proactively exploring multiple DeFi apps Flamingo, for example, caught their attention This is a full stack DeFi pact hosted on the Neo blockchain, with an interoperability capability
DeFi App Enables Users to Participate as Stakeholders, Traders, and Liquidity Providers On September 23, Binance listed Flamingo on its launch pool The two intend to cooperate to advance the DeFi framework
The Chinese government-backed public blockchain intends to create a platform that ensures regulatory compliance and bridges the gap between DeFi applications across the world and government regulations
Kelly is our in-house crytpto researcher, exploring important stories, from blockchains used in the real world to the release of the new ico
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News from the world – CA – Founder of Neo – DeFi Revolution has just started
SOURCE: https://www.w24news.com
