1/Open Finance is an exciting industry being built on Ethereum. Ethereum is slow and inefficient on Layer 1, but exceptionally good at storing and programming digital value & acting as a settlement layer (Something EOS will never be because it lacks security and decentralization)
2/Open source software is being built on Ethereum that lowers economic barriers and lets anyone in the world have access to the global financial system, including the unbanked, because it doesn’t require a trusted intermediary.
3/People can securely store their own assets using hardware wallets or mobile app wallets. Exchanges, loans, insurance, finance, banks, baskets, derivatives, and CDP’s are among just a few permissionless services available.
4/The rights to real-world assets including securities can be tokenized and traded through programmable smart contracts on the Ethereum blockchain.
5/This allows for anyone to own fractionalized assets including metals, gems, carbon credits, fiat, oil, real estate, equity, voting, dividends, debt, invoices, derivatives, collectibles, art, commodities, revsharing, music licensing, royalties, trademarks, patents, & copyrights.
6/People can use ETH as collateral for a Maker CDP to create the Dai stablecoin, take a tokenized short or long position using dYdX, or even earn interest using Compound Finance or Dharma Protocol.
7/Open Finance on Ethereum unlocks the global financial system, creates new tradable assets that have never existed before, and gives access to these permissionless services to everyone in the world. #defi #openfinance
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