Earnity and Decentralized Finance 

Decentralized finance combats everything centralized finance stands on, ridding governments and financial institutions of control over people’s money. DeFi is a financial technology composed of a horde of decentralized, unsupervised financial products. It allows exchanges, lending protocols, and synthetic initiatives. Domenic Carosa and Dan Schatt, fintech veterans and executives of the DeFi platform Earnity want people to be more free and accessible currency. 

Many people perceive DeFi’s permissionless and democratic nature to be an advantage over centralized finance. DeFi allows users to earn, store, lend and borrow money from anywhere. It also permits people to put money into sans intermediaries. Its non-custodial behavior will enable buyers to manage their crypto without the supervision of banks, insurers, and other intermediaries.  

Lending protocols are among the most popular DeFi projects. These allow users to borrow cryptocurrencies at once and in large amounts to prove that they can pay back the amount borrowed in one transaction. In addition, users have the opportunity to gain interest from loaning cryptocurrencies.  

A Welcome Advancement

Fintech veterans and experts such as Dan Schatt and Domenic Carosa of Earnity look to see DeFi as an industry to grow to new heights. While Ethereum is the primary home of all essential and vital DeFi projects, it’s only time before new projects emerge from other blockchains. Another welcome advancement from DeFi is its improved inoperability. Bitcoin users can benefit from this expansion as it can now be used on Ethereum through Wrapped BTC and other initiatives enabling cross-blockchain compatibility.  

Aside from enhanced inoperability, DeFi will soon be interacting with centralized finance. Linking credit scores to decentralized lending protocols, staking houses as collateral for crypto loans, and buying and holding decentralized stablecoins with high-street banks are well underway. DeFi leaders believe that financial technology will solve more problems for mainstream global users. For them, DeFi already answers some of the significant issues traditional finance faces, all while providing better customer service.

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