It's Still So Early For DeFi
Today I was showing a friend all about PolyCub, Cub Finance and ThorSwap as she was asking about what Decentralized Finance was and what it will end up being in the future.
The fact that decentralized finance is still not a concept that the mass public understands is really intriguing to me. Of course it is not wildly unexpected as these are concepts that require a bit of technical knowledge or lived experience, but being in the bubble that is web 3.0 it becomes easy to forget that the vast majority of people are unfamiliar with the systems of the future.
The idea that banks can be replaced by community-driven protocols is something that not everyone is able to come to terms with yet. The future is a place where I hope the power and influence is more spread than it currently is under the financial systems by which we operate as a society. I have found from the start that I find DeFi to be a very libertarian concept that I find could be a strong base for financial equity and freedom in the future.
Watching different protocols release tokens and do airdrops that have gone to the moon and then came crashing back down made me think that I had missed out on the DeFi boom. However, with the lack of general public knowledge on the ecosystem, I have hope once again that it is relatively early in the process and that the huge things we've seen are actually only the plumbing for what is to come in the future.
I just can't imagine that people will continue to be ok with the way the traditional financial system operates, especially as inflation is skyrocketing and people are starting to ask questions. It is my belief that our savings should be at least keeping up with the rate of inflation, if not beating it. The traditional banking system will never allow this to happen because their profit line would be destroyed, but in a DeFi system things that benefit the whales still benefit the minnows.
Just wanted to let you all know that if you know what liquidity pools, farming, staking, etc. mean, you are way ahead of the general public.
Get excited, things are going to get good in the coming years for those involved in cryptocurrency!
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My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
