Home Blockchain ChainLink on How the Shift in DeFi from CeFi is Already Happening

ChainLink on How the Shift in DeFi from CeFi is Already Happening

Chainlink DeFi CeFi

Sergey Nazarov stated, the global financial system is based on people’s trust in their ability to gain a return, with predictable risks, while maintaining control over their assets. If DeFi provides a superior alternative on all three dimensions, there will be a shift in trust.

During the talk from ETHDenver and ColoradoJam, the world’s largest Web3 BUIDLathon and Community Gathering, which is ETHDenver’s content that is crypto and blockchain focused, Sergey spoke about how DeFi is still only approximately 2.6% of all value in cryptocurrency. And, on how the remaining market for smart contracts is Trillions. And, on how ChainLink is data and trust minimized computation.

Sergey pointed to how ChainLink is expanding in to new data and computation.

He also pointed to how CeFi Financial Products work well in predictable conditions and on how CeFi financial products will not support the average user. He stated that DeFi completely redefines a user’s relationship to markets and that Decentralized finance are autonomous on-chain services.

ChainLink are doing a great job in building great open source software which enables the next generation of DeFi and several other smart contract types.  They have to state that they are an idea meritocracy where the best ideas win. And, also on how they are a remote team working with great people from all over the world.

Users are becoming more bullish on Link than ever.  These are just indicative of how DeFi has come in strong when the market was ready for it. It is very obvious that DeFi is evolving, making it more and more attractive even for holders of smaller bags and the shift is already happening.

ChainLink Integrations

Chainlink Price Feeds are now live on the xdaichain mainnet, providing DeFi applications like perpprotocol with a secure and reliable source of financial market data. This integration was made possible by protofire through a chainlink Community Grant.

Korean crypto exchange Pluto will launch its own Chainlink node to supply signed trading strategy analytics data on-chain. This enables the creation of new DeFi dApps like automated asset managers that rebalance portfolios using Pluto’s market indicators.

For the asset management industry, Chainlink Oracles provide a secure way to bring external asset data on-chain and connect enterprise systems to any blockchain, not only reducing data silos and systemic risk but also unlocking new, transparent asset classes.

MFGCoin, a blockchain-based platform focused on supply chains, plans to integrate ChainLink Price Feeds to enable new DeFi products for the supply chain industry, such as incentivizing product procurement and expedited financing via tokenized rewards.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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