Mapping The Decentralized Financial System

“One of the most exciting developments within the blockchain space is the coming of the ‘decentralized financial system.’ In this new system, users will be able to access censorship resistant financial services whilst remaining in full control of their wealth and personal data.” Max Bronstein link

Blockchain based financial services are superior to their centralized counterparts across five primary features:

  • Permissionless
  • Censorship Resistant
  • Trustless
  • Transparent
  • Programmable

“As the blockchain ecosystem matures, the community will realize that blockchains aren’t a panacea for every problem, but rather a technological tool that allows us to create new forms of economic abundance. By enabling anyone with an internet connection to access basic financial services, blockchain technology has the ability to raise the standard of living for millions of people and jumpstart growth in a number of developing economies. Not only have we lowered the barriers to access, blockchains provide a number of needed efficiency gains including censorship resistance, transparency, and programmability. These values will become more clear as blockchain technology eats the financial system.Max Bronstein (emphasis added)