Three years on from the initial coin offering mania of 2017, decentralized finance is the new hype. Spurred on by the promise of high annual gains, traders appear to be sowing heavily in crypto’s latest yield-generating arena that is DeFi. Projects in the early days of crypto seemed to focus on payments and finance in general; however, entrepreneurs began expanding the utility for blockchain technology into other use cases with varying degrees of success.
With DeFi, an argument can be made that crypto is returning back to the promise of democratizing finance. By eliminating the need for traditional gatekeepers, global financial inclusion can reach a more diverse demographic.