Decentralized Finance (commonly referred to as DeFi) is a blockchain based and cryptographically secure form of finance. Inspired after the financial crisis of 2008, DeFi does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to verify any transfer of ownership, lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against…
Read more@ISIDEWITH3yrs3Y
Yes
@9FNSSWC8mos8MO
Centralized finance allows the government to control who has money. If you do something they don't like they could take away your money.
@9FJB4JB8mos8MO
Centralized finance allows the government to control who has money. If you do something they don't like they could take away your money.
@ISIDEWITH3yrs3Y
No
@9FLYGRTProgressive8mos8MO
Finance should remain centralized so that way congress can funnel money into issues that are prevalent in today's society, like drug misuse, and overdosing/underage drinking.
@9F8VPZ78mos8MO
I don’t need to convince anyone. We patriot will not let it happen. Do not mistake our kindness and passiveness as weakness.
@9F7XVNZIndependent8mos8MO
Centralized Finance can empower governments to manipulate the economy in such a way to only help monopolies .
If it's controlled by multiple people or companies then it'll become just as corrupted as the internet. There would be too much control over the economy coming from too many different sources. It would be almost impossible to track any fraud back to its original source.
@ISIDEWITH3yrs3Y
Yes, but only if it’s truly decentralized and cannot be manipulated by any person, group, or government agency
@9FWVP3J8mos8MO
Currency is credit of a country. It is not possible to be truly decentralized. Decentralized Finance is a fake concept.
@9FLYGRTProgressive8mos8MO
It would allow money to go to what the people truly want, instead of what a certain group or person would like.
@9F8VPZ78mos8MO
It allows too much surveillance and control by the govt of what we are doing. The govt has proven time and time again it cannot be trusted, honest, or accountable. Those in power are bought by the wealthy and interests not of the American people. Without cash you lose the ability to do simple things like donate to homeless on the street. To conduct lawn-sales, to slip money under your child pillow from the tooth fairy, kids allowances etc. The government wants to micromanage our every move and that is not what they were hired for. They work and answer to me! An every other American they swore to represent. They are in position by our authority and they will be removed just as quick. By force if necessary, a right ensures to us by our founding fathers. We will not cower and bend the knee to corrupt politicians and their agencies.
@ISIDEWITH3yrs3Y
@ISIDEWITH1yr1Y
Yes, this could reduce income inequality by providing more transparency and inclusive access to financial services
@ISIDEWITH3yrs3Y
@notme2yrs2Y
I don’t understand the concept of decentralized finance
@8WGK7PZ3yrs3Y
I don’t understand this.
@8WFSMSV3yrs3Y
i do not understand this question
@ISIDEWITH6mos6MO
@9FCPPVY8mos8MO
I do not understand this
Create LOH, Legion of Homeless, in which all of our funds, i.e. trillions of dollars, are to be managed by drunk homeless people.
@9FKRMRS8mos8MO
@9C5HJHG12mos12MO
I don’t really understand the question
@9CB7Q5KPeace and Freedom12mos12MO
Don’t understand question.
@944QNMB2yrs2Y
Don’t understand the question.
@ISIDEWITH6mos6MO
@9F2Q3938mos8MO
I do not understand this concept
@ISIDEWITH6mos6MO
@9F83TJN8mos8MO
i dont really understand
@9FFJJDF8mos8MO
I don't understand what this means.
@97NYRBTProgressive2yrs2Y
i don’t understand what this is asking
@9DFD8LN 9mos9MO
I don't understand what this is talking about.
@9D5RHR8Constitution10mos10MO
Go back to the gold standard
@9FHWW9T8mos8MO
I don’t even know what this means
@8WG34Q93yrs3Y
I don't really know what this means
@9CKGW4ZRepublican11mos11MO
No, the anonymity of decentralized protocols make it easier for criminals to transfer funds
I don't understand the concept of decentralized finance
@8WFW5WL3yrs3Y
Girl I understood one word in this whole sentence
@9L5DG4R2mos2MO
We should have limited Government, less spending, lower taxes, and Deregulation. We should decentralize it to a healthy amount.
@9D98YFK9mos9MO
I don't understand any of this
@9BPYH4Y1yr1Y
I don't really have a stance on this
I don't really understand this question
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