Decentralized finance is a form of finance that does not require traditional intermediaries such as banks, brokerages or exchanges. All of the work that would normally be handled by these institutions is instead performed by technological solutions including smart contracts and blockchain.
The legacy banking system and DeFi are markedly different. While traditional finance is slow to develop and adapt, in just a few years, companies operating in the DeFi sector have built a parallel financial system from the ground up. There are payment systems, lending protocols, exchanges and more. There is also a growing stablecoins market of fiat-pegged assets including Tether (USDT) and USD Coin (USDC).
Ilia Maksimenka is the founder and CEO of PlasmaPay, a global, digital payments platform enabling seamless entry into decentralized finance. Prior to creating the Plasma Alliance Group in 2017, Ilia founded Edster, one of Russia’s earliest e-learning platforms and an online portal for over 10,000 universities and schools, and later went on to become head of international business development at open online education platform Coursmos in 2016. Ilia was awarded a Master of Economics from Plekhanov Russian University of Economics and a certification in business management from McGill University.
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