Hey Boomers: Authoritative Explanation of Decentralized Finance (DeFi)
Federal Reserve Bank of St. Louis Releases a Comprehensive Publication on Decentralized Finance
I’ve had trouble in the past eloquently explaining the impacts of blockchain and decentralized finance (DeFi) technology.
The evolution is so rapid, that I can barely keep up with any of it. Most of the time I personally rely on my technology background and ‘gut instinct’ when trudging through the DeFi space.
I do feel like the less averse and Traditional Finance (TradFi) participants are hesitant to believe a single word from crypto-native, non-CFA types like myself.
And I get it.
Yet it is still tiring to try to share the legitimate value proposition and exponential opportunities the space is providing right now.
It takes some authoritative publications to help facilitate the legitimacy of the space and explain things in a way our TradFi and Boomer friends can understand.
Most times it’s best to leverage these resources to save everyone time and frustration.
Federal Reserve Bank of St. Louis on Decentralized Finance
The St. Louis Fed released a fully referenced publication titled “Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets”
I URGE my TradFi friends, family, and readers to please check out this publication.
The publication covers:
Decentralized Finance (DeFi) Background
Smart Contracts and why they’re important
The Building Blocks of DeFi
Asset Tokenization
Stablecoins (dollar-pegged cryptocurrencies)
Decentralized Exchanges (DeX’s)
Automated Market Makers (AMMs)
Lending & Borrowing On the Blockchain
Derivatives
Asset Management
Opportunities & Risks
Here’s the link:
If you want to discuss more, I’m happy to help you understand the opportunities.
DeFi people: If you have trouble explaining what you’re doing TradFi friends or family, please send them this post. Let’s get #AllBrainsOnBlockchains and build the financial system we all can benefit from
Ride The Wave,
BΞN