DeFi

DeFi, stablecoins and mainstream adoption, AND CIO

Published

7 months ago

28 June, 2024

DeFi, stablecoins and mainstream adoption, AND CIO

Raj Karkara, COO, ZebPayCryptocurrency has been a game changer in modern finance, transforming the way we perceive and conduct financial transactions. By moving from the status of a technical tool and digital asset to the status of a financial mainstream, it can potentially bring financial inclusion and empowering people excluded from formal education financial services.

Several key pillars of the crypto universe are helping to drive this shift, including the rise of decentralized finance (Challenge) platforms, stablecoins and the use of crypto tokens for peer-to-peer transactions.

The DeFi disruption
Decentralized finance (DeFi) platforms can improve the accessibility, transparency, and efficiency of financial services. By leveraging blockchain technology, DeFi platforms can provide multiple financial services such as lending, borrowing, and remittances. This can make finance more democratic and provide individuals with the opportunity to be part of an inclusive and transparent financial system.

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At its core, DeFi is a peer-to-peer network powered by smart contracts that automate transactions. These contracts reduce costs, streamline processes, and eliminate the need for intermediaries. Smart contracts provide access to various financial services to anyone with an internet connection, regardless of their geographic location or socio-economic status.

DeFi uses blockchain, a secure and immutable ledger technology where transactions are recorded and verified through numerous automated processes. This means that transactions can be traced and verified by anyone. Additionally, DeFi platforms offer multiple options to meet diverse user needs with their decentralized nature, ensuring users have greater control over their assets.

By effectively ensuring underserved populations have access to financial services, DeFi can bridge the gap between the banked and the unbanked. Through DeFi platforms, people excluded from the traditional financial system can access loans, savings and other essential financial services. It helps automate processes and reduce transaction costs.

The role of stablecoins
The emergence of stablecoins has facilitated crypto use cases. At a fundamental level, stablecoins are digital assets tied to real-world stable assets like fiat currencies or commodities and serve as a bridge between crypto and the stability that traditional fiat currencies offer. Crypto offers fast transactions on the blockchain and, combined with the stability of fiat currency, will be a game-changer. On the other hand, stablecoins smooth out price fluctuations and provide a reliable exchange rate that builds trust. Stablecoins are designed to mimic the price stability of fiat currencies like the US dollar, euro and others.

By tying their value to these assets, stablecoins offer users the benefits of blockchain stability and efficiency. For every stablecoin unit in circulation, an equivalent amount of the reserve asset is stored, ensuring a direct peg. Meanwhile, crypto-backed stablecoins are backed by a pool of other cryptoassets rather than fiat currencies. Smart contracts and algorithms govern the ratio and keep it stable.

Algorithmic stablecoins rely on mathematical algorithms and supply adjustments to maintain a stable value without the need for collateral reserves. They are stable, provide users with a reliable medium of exchange and store of value, and can be used to send money to family and friends, or make global online payments in some cases .

This system is transparent and open to audits, allowing users to independently verify transactions and collateral held, thus playing a vital role in wider adoption.

Achieving financial inclusion
The ability to break down walls and make financial products accessible to everyone at the click of a button is a key advantage.

By providing tools for transparent and secure transactions, cryptocurrencies can ensure that the unbanked participate in the global financial system on their terms. From migrant workers sending remittances home to entrepreneurs seeking capital for their businesses, cryptocurrencies can make it easier and more efficient to dismantle barriers and help create an inclusive and equitable financial landscape.

In areas where access to financial services is limited, crypto offers a secure platform to store and transfer money via a wallet. Crypto transfers are fast and can be done with just a smartphone and a working internet connection. In regions where traditional financial institutions are scarce, cryptocurrencies can offer a secure platform to store and transfer wealth with a crypto wallet.

Cryptography facilitates cross-border transactions by eliminating high fees and long processing times and facilitating borderless transactions with minimal costs, enabling seamless money transfers globally.

Crypto provides access to essential financial services, such as savings and credit accounts, through decentralized applications (DApps). This can help the insurance industry reduce instances of fraud and increase transparency. Using blockchain’s immutable ledger, insurance companies can detect fraudulent claims, while smart contracts can automate underwriting processes. Some crypto companies often allow users to earn interest on their crypto holdings or borrow money.

There is no doubt that cryptocurrencies are becoming mainstream, fueled by DeFi, stablecoins, and major macroeconomic transformations. They are changing everyday transactions, democratizing access to financial services, and reshaping the global economy. Government, regulators, and crypto businesses must work in tandem to ensure that regulation contributes to the spread of cryptocurrency usage. By fostering collaboration, innovation, and responsible stewardship, we can harness the full potential of cryptocurrencies and chart a path toward a more inclusive and prosperous future.

Disclaimer: The opinions expressed are those of the author alone and ETCIO does not necessarily endorse them. ETCIO shall not be liable for any damage caused to any person/organization directly or indirectly.

The author is Raj Karkara, COO of ZebPay.

Published on June 28, 2024 at 4:08 PM IST

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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