How to Avoid the Death of DeFi in the Wake of FTX - Check out the story here

Arrow

The crypto exchange’s collapse is an inevitable outcome for an industry yet to find its use case.

Arrow

For crypto to survive, it needs to learn from the very financial sector it set out to replace, says Brent Xu, the CEO of Umee.

Arrow

Decentralized finance (or DeFi) is characterized by speed, autonomy and transparency unmatched by legacy banking institutions.

Arrow

The financial crises of the past half-century, brought about by opacity, obfuscation, inefficiency and excessive human meddling, clearly justify these innovations.

Arrow

While decentralized trustless technology is revolutionary, we watched as the industry was being run by centralized organizations like FTX,

Arrow

The uncomfortable truth is that to build lasting value, DeFi and blockchain need real-world use cases.

Arrow

Without a value proposition beyond “line-go-up,” it's difficult to justify DeFi’s innovations.

Arrow

Blockchain just becomes an overly complex mechanism for classic casino capitalism.

Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

Arrow