"DeFi", The Most Exciting Kid on the Block
Decentralized Finance, commonly referred to as *"****DeFi****"* among the blockchain community is proving to be more that just a buzzword. It is a trending topic in the crypto space and blockchain community as a whole. Although the blockchain network that powers DeFi is still in it initial stages, it offers a compelling value proposition where institutions and individuals can make use of broader access to financial application without needing a trusted intermediary.
**What exactly is DeFi**
DeFi, the short form of "Decentralized financial service" is a truly decentralized service system that can be used to add more value to your money. DeFi represents a a global ecosystem of decentralized apps that are built on Ethereum blockchain because it is a programmable blockchain . The dApps are replication most of the services that are offered by traditional banks i.e lending , borrowing, earning interest on savings and many more. And by running the dApps also known as protocols, the technology offer a peer - to- peer financial network.
As opposed to the decentralization of money through Bitcoin, Ethereum etc, the aim of DeFi is to generally decentralize the traditional financial industry. It operates on the concept of opening traditional financial service to everyone regardless of their status or proximity by providing a permission-less financial service ecosystem based on blockchain infrastructure.
**What DeFi promises**
DeFi has come up with an alternative monetary policy that is revolutionizing the banking system. Imagine being able to borrow fund, complete financial transaction and be part of the complex financial world without the need of a financial institution or a middleman. ***This is the freedom DeFi was built to offer.***
DeFi promises a full fledged capital market.
It promises to decentralize the financial sector, allow censorship resistance and global participation regardless of social status and eliminates trusted third parties.
Promises a relatively fats and low cost financial transactions due to the integration of the blockchain technology.
The user is in full control of their money. This is achieved through non-custodial in the DeFi applications where user are allowed to remain in possession of their private keys.
The best beneficial part of DeFi is that it operates in a way that any person in any place can access its functionality as long as they have access to the internee through computer or smartphone. A person can easily store and transfer their funds and access other financial services, all is needed is a digital wallet which can be freely downloaded.
For the last two years, DeFi has grown from a small scale project to a huge number of platforms on blockchain where investors, browsers and lenders and any individuals can make transactions without the need to visit the bank or financial institution. ***Isn't that exciting!!***
Currently there are billion dollars tied up in the DeFi network, but there are potentials of trillion of dollar in tradition finance moving to it uses which presents a massive growth potential that is attracting newbies. DeFi is the current exciting project in crypto space however there are too many hurdles and changes everyday which makes it hard to understand DeFi. Most of the times we hear or read things that we don't understand, but we can only realize their potential if we try it.
A Letter to A Man who Made Me but Never Wanted Me
**Dear Dad**
I know I shouldn't call you Dad but I don't want to call you by your name because it servers no purpose to me. If you ever read this letter and think that I am going to tell you how you were an awful dad and that you should be ashamed of how you threw me out of your life, I am sorry because that is not the case but rather this is the message to you, " I forgive you".
forgive you for not being there because it made me stronger. I have learned never to depend on someone because even our shadows tend to leave us when there is darkness. All I can tell you is that I had a rough childhood, especially when asked "where is your father?" during Father's day in school. The funny thing is that in Africa you can never be the son of a woman, a child is always associated with his father. There were times when I could no longer take the question and thus resorted to killing you. "My father is dead" that was an escapement slogan but deep down I knew you existed.
I forgive you for pushing me away because I found new arms that could comfort me though they couldn't offer the much-needed protection and security a father could give his son. But I thank God they were always there for me (thank you, mum). she taught me to find something to live for. Then came the moment of embracing my manhood, I had to grow up as a man just as society expects. Being emotionally tough and not a cry baby with the absence of a male figure in your life is hard.
I forgive you for not being a parent, Mum was able to pick up the stacks. She raised us and strived to provide for us. Sometimes she wanted the best for us but she couldn't provide but all in all, she did her best. I went to school on my first day and had a problem describing my father to the class, sometimes even your name escaped my mind. Yeah, it was a shame but I learned to live with it. I managed to graduate through high school with the support of my Mum, but then that was the end. I was only halfway through university when everything crumbled and I had to drop out. whether you feel sorry or happy for my miseries is something that doesn't bother me because I am on my way to greatness.
So just remember that you didn't screw me that much when you left; when you stopped being with mum and ran away from your responsibilities. My world still continues
Bitcoin Cash Hits New Low Against Bitcoin after Draper Removes Praise From Twitter. Data from price indicators such as Cointelegraph and coinmarketCap indicates that BCH / BTC is now at its worst levels in the three-year history of Bitcoin Cash.
Draper's confirmed that he deleted the praise in a tweet that read
"So yeah I did put that tweet in, then I did a little more research and I pulled
it off… I admire people who try new things, who do new things, and I’m less
religious about one token or another.”
Is Suicide a sign of Weakness
Is Suicide a sign of weakness? Can it be Justified?
“The bravest thing I ever did was continuing my life when I wanted to die.”
― Juliette Lewis
why will a person contemplate suicide? is suicide a sign of weakness or is it justified? This is one of the questions that will attract different answers depending on the emotional intelligence of the individual being asked. I have engaged in various conversations where I always had to argue that suicide is not for the weak, Why do I say this? It is because I have contemplated suicide at least twice (a story for another day) and I have also lost a friend to suicide that saw me embark on the journey of creating mental health and depression awareness. Would anyone say that dying from cancer is an act of weakness? and that individuals dying from Cancer are weak? I don't think so. It would be idiotic to say that dying from a stroke or cancer is an act of weakness. such words would show the level of insensitivity and ignorance.
However, there are individuals who will say suicide is an act of cowardice and the people who commit suicide are weak; I tend to disagree as this statement is insensitive and incorrect. Most of the people who die of suicide have mental issues at their time of death, therefore, they are usually not thinking clearly because of the emotional pain they may be going through. They are not weak, they are ill just like those with heart disease. Take for instance Robin Williams, one of the most well-known and successful comedians of his time. According to his Daughter, Williams was always warm, even in his darkest moments. But he committed suicide due to depression and his death shocked the world. The tragedy is that how could a man who spent most of his life making people laugh commit suicide? Therefore the word cowardice or weakness should not be associated with suicide. Bipolar disorders, Clinical depression, and other related mental illnesses can cause a person to do many things they would never have done including death by suicide. Therefore cowardice and weakness have NOTHING to do with Suicide and using these insensitive words fuels the stigma associated with mental illness and Suicide. Such kinds of words are extremely disrespectful and hurtful to the victims of suicide including survivors.
On this journey, I have met individuals who will swear by the Name of God ( the religious ones), that they can never commit suicide no matter what life throws at them. And yes they could be right depending on their emotional strength. But sometimes we just lose it, it reaches the point where all we want is to end the pain, in this situation, committing suicide becomes a cry of help that takes a lot of strength to ask which the mind doesn't want to do. we feel that committing suicide may be the only way we can escape the suffering, sometimes it is the only conclusion that our brain can make. We are living in a society where taking one’s own life is not received well and considered as a cowardice act. But what if one is suffering, why can’t we just stop the chapter and end the suffering. For instance, when we have a bad job, we can always quit. For those in marriage, we can file for divorce, and some may seek love somewhere else. But when it comes do eternal suffering, the pain brought by emotional trauma, terminal disease, don’t we have the right to shut down that suffering stage. Is suicide the best solution for the pain we may be going through?
When things are going as planned, we will always crave the continuity of life, however, when we hit obstacles or things fall back, suicidal thoughts set in. We feel like ending our lives will end the suffering. This is never the case because ending our lives only transfers the pain to those we love. Think of your Mum when you are gone, That lovely little girl who just turned two years old, who will be there to hold her hand through this harsh world. Who will teach your son to be a gentleman and be strong so as to prevail through the hardship that comes along with life? Suffering should never be a reason to end our life. You shouldn’t commit suicide because the love of your life rejected you. We can always find love somewhere. The idea that there is only one person out there for us is a toxic mindset that you need to let go of.
Suicide is not a sign of weakness nor cowardice but rather an act that originates from serious mental health issues, and the words used to associate suicide should reflect that fact. Although Suicide is not a sign of weakness it cannot be Justified.
CRYPTOCURRENCY: Is Africa Ready for the Crypto Buzz?
**Where is Africa in the adoption of Cryptocurrency?**
Google team has confirmed that Africa still dominates Google trends search interest for "Bitcoin," but when it comes to the ground, there is nothing to reflect the much attention being expressed on the search engines. Blockchain technology which powers Bitcoin is considered to be the fourth industrial revolution that will change how we work, live and interact. A blockchain is a group of connected computer systems that record transactions in a ledger and in real-time. The technology is currently revolutionizing the financial world by slowly removing the components of centralization through the development of cryptocurrencies. The best thing with cryptocurrency is that it is not confined by geography but rather an internet-based system where the transactions are stored in a database which we refer to as Blockchain.
***"Bitcoin" Search team On Google Trends Map – Top 5 Countries of 2017***
**How is cryptocurrency different from mobile money or MasterCard?**
Unlike mobile money, cryptocurrency is not regulated by the government, doesn't need an intermediary, and the transactions rely on the internets. Therefore they can be performed at any place worldwide.
**Will the continent's interests towards cryptocurrency grow into the disruptive innovation that will blossom on this continent?**
Cryptocurrency has not been widely adopted in Africa despite the massive interest from the continent and the considerable frustration Experienced by Global payment solutions such as PayPal, which barred Nigeria from receiving international money using its platform. There are also many cases of accounts being permanently limited with no prior notification and even withholding money for more than six months.
**V** ***A permanently limited PayPal Account***
**Challenges for Cryptocurrency Adoption**
But why is the continent that has so much to gain from the adoption of cryptocurrency not experiencing massive adoption? According to Forbes, apart from the lack of awareness and opaque regulation, one of the main reasons for the failure is the extensive use of mobile money in the continent. There are a few occasions where Bitcoin is used as means of payment, and mostly it involves oversee supplies. However, Cryptocurrency is finding it difficult to break the throttlehold of effectiveness, simplicity, and convenience that attracts millions of Africans to Mobile money. The continent that boasts a population of 1.2 billion is the home for over 50% if the Global mobile money service. Armed with a mobile phone, one can receive and send money in the region without the need for internet connectivity. This means that cryptocurrencies will have to face stiff competition from the mobile money dominated payment systems on its quest to gain a reasonable market share.
***Source: "THE EXCHANGE"***
When compared to cryptocurrency, where you must have a smartphone and a secure internet connection to complete the transaction. This is a considerable challenge because Internet users from Africa account for only 10 percent of the global total, thus making crypto even more cryptic in the continent. Another issue is the unpredictable power supply that affects access to the internet and Crypto mining, which largely depend on power.
The Cumbersome crypto registration process also dissuades its use. It seems hard to get the word out about crypto's potential with some consumers holding on to the fears that it is too technical to be used on the daily bias, especially for the continent that is striving to move away from the volatile Fiats. Additionally, compelling blockchain and crypto projects that are meant for the African market depends on developers and engineers who can deliver it. This means that training new talent and enticing expertise globally is crucial in enhancing mainstream adoption.
I believe Africa needs a cryptocurrency that will unite its various National currencies, a currency that has not been hijacked by multiple influences. A cryptocurrency that will hold the societal shortcoming and one which is entirely decentralized and not influenced by central powers. A working model will be the integration of cryptocurrency with a mobile banking platform.
