Sharing Ideas that Do Good


Search by topic:


A parallel financial system

post-image

Decentralised Finance (DeFi) is expected to emerge over the next decade, creating a parallel financial system operating on the internet.

While bitcoin can operate as a means of payment or as a new form of commodity, DeFi projects go further, from lending to insurance and derivatives.

The arrival of central bank digital currencies (CBDCs), which will enable DeFi, are perhaps five years away, while the emergence of the new internet-based finance system is probably an issue for the 2030s.

Digital currencies and digital identity are an important part of enabling DeFi, and once you have these, you essentially have the missing pieces. 

Greg Medcraft

http://www.afr.com/business/banking-and-finance/greg-medcraft-s-warning-from-the-blockchain-revolution-20210722-p58c9g?btis




What do you think?


You must be logged in to post a comment.
Comments
Jennifer Harrison @ 2021.07.25 10:05 AM

It's a hot topic, Lynn, and we are certainly going to be hearing a lot more about it. 

I've just posted a link to a scholarly article on DeFi which is a great read if you are interested.  


IdeaSpies @ 2021.07.25 10:05 AM
Yes very interested Jennifer. I saw FaceBook get ahead of the regulators with their Cryptocurrency. Fortunately Greg Medcraft is coming back to Australia and will help our regulators understand DeFi. Rod Sims of ACCC is already doing very well in addressing the powers of Big Tech.


Related Posts

FinTech

post-image

Pause Awards Highlights Gender Pay-gap With Discounts For Female Founders
8 March 2024 by Ben Ford 0 Comments
 

FinTech

post-image

Inaam impact investing is a fintech app putting people and planet first
25 February 2024 by Jennifer Harr... 1 Comments
 

FinTech

post-image

RegenX is a fintech gateway to greener investments
18 February 2024 by Jennifer Harr... 1 Comments

Why support us financially?

"Great ideas, research and innovation can come from anyone – so often the best ideas do not have a voice. IdeaSpies provides a platform for people to share ideas that create a better world"
David Thodey AO, Patron