Despite all the advantages of this tech, alas, there are currently no popular or successful global projects on DeFi in the financial sector. It is so due to financial authorities and firms. They are not ready for integrating new technologies, and they see DeFi as a threat, not an opportunity.
But the best is yet to come, and its future looks quite prosperous. As the world hurdles further towards a digital and decentralized future, we are already seeing tokenized currencies including digital gold, Non-Fungible Tokens (NFTs), and artworks become more common while many governments around the world are seeking to establish central bank digital currencies (CBDC).
The use cases for smart contracts are exponential, spanning from DeFi to gaming, tokenized real-world assets, prediction markets, payments, gambling, and betting apps.
As the manner in which both individuals and organizations interact, share information, and utilize financial tools continues to be revolutionized by decentralized technology, smart contracts, and DeFi will continue to create and supply its users with transparency and financial freedom.
That’s all for now. Stay tuned for more great content coming soon!