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Updated on May 24, 2022 11:09 am
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Updated on May 24, 2022 11:09 am
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A Brief Introduction of DeFi (Decentralized Finance)

There has been a lot of discussion about the DeFi platforms and more and more platforms are being launched in the market. Liberthereum has taken a step in the right direction by launching a platform that will help the users to sell and use their assets in a clandestine manner. And I want to go ahead and explain not only the basics, but also some of the in depth topics in relation to DeFi and you can get a good understanding and a quick amount of time. So let’s go ahead and start right off the basics here.

DeFi and Liberthereum

Talking about decentralised finance, it is pertinent to mention about the platform that assists users in open finance, and the open access to financial services. No matter where you are in the world, no matter what your background is an instant, clear access to any financial service you would want. That’s what defy is really about. At the end of the day, it’s about providing open access permission less access to any kind of financial service you’d want. Now in the current world we live in today, in order to understand DeFi, we have to look at what kind of world we’re living in right now, when it comes to finance. 

Real life examples of DeFi

Now, the typical financial experience for an end user in today’s world is dealing with a standard, you know, selection of a few commercial banks, whether you’re in the United States, like myself, or in different corners of the world, putting away money in your savings account, and earning practically nothing on those savings. It’s just become standard that we kind of work with the traditional financial system, but we don’t really trust it. At the end of the day, we don’t trust them to have our better interest. But we know we’re dependent on them, because in many cases, it seems like they’re our only option will defy or open finance takes this concept of dependency on traditional financial services on centralised controlled institutions, and flips it on its head and brings about an idea of saying what if you could bring all of those same services you expect from your traditional bank, or services, maybe even your traditional bank doesn’t even offer and bring it in to an all in one platform where you can access anything. 

Surge in the DeFi platforms in crypto space

We’ve seen in the crypto space, there’s been lots of smart contract platforms or there was known as decentralised applications, a lot of fancy terminology for applications that allow you to earn interest or make trades and not have to worry about any intermediaries, you’re doing it in a programmable network where there’s no Counterparty or third party holding your funds. At the end of the day, it’s really fascinating. But there’s also more centralised providers that more take on more of the traditional banking model that usually can pay higher interest rates. And they can provide the same convenience that you can get in some decentralised applications just with a bit more trust. And this is why we’ve tried to become an all in one, DeFi or open finance platform, giving you the ability to earn the rates of interest that you expect to earn, be able to trade the assets you want to trade and be able to send and receive payments, not just you know right next to you from maybe a family member, friend, but also to send money to a family or friend member overseas and an entirely different country. And when we can really bring about this vision, when we can access these financial services from one application and how swift payments are made in traditional bank payment networks. 

Real world applications of DeFi and Role of Liberthereum

There are a number of applications of DeFi, but we will talk related to finance.

Liberthereum is an ambitious platform launched by the dedicated and industrious team that aims to provide services in the field of finance by giving people opportunities to sell and stake their financial assets in a perfect and profound manner under the umbrella of Liberthereum platform.

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