05/06/2022
The concept of Decentralisation is expected to disrupt the traditional banking systems. Here is what you are required to know about the problems that DeFi solves for the end-users:
1. Inefficiency: Transaction rates and settlement time are very high for a variety of daily transfers. DeFi aims towards solving this issue for the end users.
2. Limited Access: Globally more than 1.7 billion individuals are unbanked and more than that are under-banked.
3. Opacity: With big central banks at the top of the hierarchy, users have little to no transparency to look at the health of the bank before dealing with them.
4. Lack of Interoperability: Decentralised applications run on dApps which are highly interoperable. Transactions are fairly quick and they give us an overview of how the future of payments will look like.
