Certainly the benefits of having a system with self-custody and permissionless trading and transactions has very much demonstrated it’s value in the past few years.
Come up with one more benefit and share it in the forum. Then respond to at least one other benefit from another community member.
Wealth transfer at death could be easy and anonymous. No trust in Probate or executers who may disburse funds in a way the deceased would have wanted.
Musicians have been ripped off by managers, record companies and promoters as long as I can remember. Smart contracts allow musicians to focus on music.
Come up with one more benefit and share it in the forum. Then respond to at least one other benefit from another community member.
Transparency is huge one. It may not like the goverment, but it makes the coruption go away in many cases, cause all transactions are visible for public.
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Benefits of Decentralised finance:
- No middle man.
- Transparency, open ledger.
- Immutability.
- Potentially used by anyone around the globe, regardless of wealth, age or status.
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Perhaps I’ve misunderstood the question and please correct me if I am wrong here.
I understood the question was to provide another benefit other than the three that were discussed in the course which were;
Tech benefits
Monetary benefits
user experience benefits
now the keyword I believe Josh used was to list another benefit and as hew said “maybe I even missed a whole category out”
Therefore I believe what Josh may be referring to as in the category left out which is to be my benefit choice listed below;
Smart Contracts
One of the best features (benefits) of DeFi is smart contracts, which are programmable digital contracts designed to be auto-executed.
These smart contracts can be programmed to perform literally any kind of digital financial transaction involving money and requiring trust.
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Hi DNC,
Great answer I believe, which I had to scroll quite some time to find an answer similar to mine. “Smart Contracts” - Programmability
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Cross-chain technology has emerged as one of the most recent manifestations of the DeFi movement. It improves interoperability between two independent blockchain networks for better information exchange.
Defi, benefit is fully control over your assets to deploy in several yield or earning adventures …
creating a loan with some collateral with no middleman is a big advantage
Decentralized, no middleman thus no target for bad actors in authority to attack, total custody of your assets, transparency, Smart Contracts.
RocketMan focused me back to the real answer (I think), Smart Contracts!
No state intervention in exchange rate.