Decentralized finance as a new globalization accelerator

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Digital finance created a generation of digital nomads who travel with freedom of mobility and choice. As DeFi develops, it could drastically alter how we view work, argues a crypto insider.

Those who studied history well might remember the city-states of medieval Europe. Back then, caravans of merchants traveled from one city-state to another, bringing luxury goods and news from far-away places. It was this lifestyle that enabled these merchants with freedom of mobility and choice. It is a very similar concept to the one described by Michael Ondaatje in his book.

Essentially, there are several types of applications for DeFi, reflecting the depth of its integration and range of its uses. Decentralized exchanges represent a large category of DeFi operations, offering an authority-free trade of cryptocurrencies. Stablecoins are pegged to external assets, such as fiat currencies and precious metals. Lending platforms and prediction markets are also prevalent in the sector.

It has become evident that governments’ failure to realize the potential of DeFi and blockchain could risk causing an economic lag in their respective countries. The launch of the central bank digital currency has become the primary sign suggesting governments’ movement towards the implementation of blockchain-based technology.all countries in terms of their various CBDC projects’ stages.

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