Currency has been around ever since humans needed a practical way to exchange goods and services with each other.
In the aftermath of World War 2, currency followed its inertia to create a centralized system that eventually grew into a vast money market. This centralized money market has many glaring weaknesses and now Fintech innovations are bringing an end to this era.
Decentralized Finance (DeFi), digital currency and a constantly growing global economy are poised to rewrite the history of finance. Decentralized Finance (DeFi) is making history by reducing the dominance and leverage that centralization has within the financial markets; in effect diminishing its ability to abuse the system.
People are deeply concerned and worried about the global economic crisis and that necessitates a financial revolution of our flawed centralized money market.
To those that worry about the third Qualitative Easing, the issue lies not in the economy but within the old system itself; a system that has not evolved for over a century. Moving forward into a better financial future is possible with DeFi but the solution is one that requires worldwide collaboration.
Thus, it is time for all of us to reflect on the future.
It is time for all of us to leave our respective comfort zones and bravely imagine our direction for a new century of finance.
The advent of blockchain technology in the financial markets is a good reminder to everyone that the current system requires new reflection and direction.
So, you have a chance to reshuffle, a chance to make historical changes.
Are you still willing to play by the current rules of an unfair game or do you want a global financial system that is fairer, more equitable and efficient?
– Adam Ooi, Co-Founder of Level01.io