Over the years, we have seen a lot of trends such as initial coin offerings, initial exchange offerings, security token offerings, decentralized autonomous organizations and many more, but none of these have become the mainstream. The concept of decentralized finance undoubtedly has its merits, but as the factors that sank the predecessors remain, we have reason to conclude that DeFi is not for long.
The window of opportunity has shrunk for several reasons: firstly, because of fraud within the space; secondly, the readiness of regulators to “save” the market from violators by imposing old-fashioned red tape and new restrictions; thirdly, the lack of understanding that emerging crypto companies are pointless under traditional bureaucratic regulations, as fintech itself is the response to their ineffectiveness and constraints. However, the idea of nurturing an absolutely new approach for crypto-based services has not yet gained a foothold.
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