Banking 2.0: Financial system on the blockchain: Decentralized Finance (DeFi) is “only at the beginning” – Julian Hosp in conversation page 1

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Julian Hosp, founder of the crypto start-up Cake, speaks to wallstreet: online about the rapid development of the decentralized finance sector, dubious business models and the topic of crypto regulation.

wallstreet: online: Decentralized Finance (DeFi for short) promises to make financial transactions of all kinds more transparent, safer and cheaper. How exactly does it work?

Dr. Julian Hosp: First of all, perhaps we should define the term “decentralized finance”, because that is part of the answer to the question. “Decentralized finance” is the generic term for any type of financial service that is processed via a decentralized platform – such as the blockchain – without the help of a central actor. Since all transactions, starting with deposits and withdrawals through to exchanges, are posted seamlessly to this decentralized account book and can therefore be viewed and traced transparently for outsiders at any time, DeFi can be seen as a logical evolutionary step towards a financial system 2.0 in which all transactions are peer-to-peer and central institutions are (completely) avoided.





[ source link ]
https://www.wallstreet-online.de/nachricht/13669905-banking-2-0-finanzsystem-blockchain-decentralized-finance-defi-erst-anfang-julian-hosp-gespraech

Banking Financial system blockchain Decentralized Finance DeFi beginning Julian Hosp conversation page

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