A Decentralized Financial System Should Be Endorsed By The Real World
I’m beyond stressed. [I’m] having to pay bills with credit cards. I don’t see how they can get away with not having alternative access for people to get their money. Well, this is what happens when you have a centralized financial system running in our modern day. The traditional financial sector/systems still practice this centralized method of governance for more than decades now, even with the existence of decentralized financial systems “Defi” they seem not onboard the method in a hurry.
What’s a centralized financial system? The traditional banking and financial systems that are controlled by a single authority such as a bank or government agency. Definition according to the real world scenario, while for blockchain central financial system is defined as Centralized finance is a type of financial practice that within the cryptocurrency sphere where users can earn interest and get loans on their digital assets such as Bitcoin, Ethereum, USD Coins like USDT & USDC, and so on, through a centralized platform.
In decentralized system this is at minimum to happen has the right to decision making lies in the hand of the users and votes are normally done when the platform is about to introduce an update or development on the platform.
If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows eusers and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link See leoglossary for the terms used within this post also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in h growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
Twitter:Hironakamura
Posted Using LeoFinance Alpha