The key missing piece of DeFi: the credit score
Over the past 12 months, significant growth in the decentralized financial sector has been driven by one thing: the likelihood of users earning a high return on their crypto assets by loan, localize and supply creditial. Depending on your risk appetite, the return on DeFi investments can be dozens or even hundreds of times higher than the standard return on traditional markets.
Even if those types of yields do not last forever, DeFi offers significant promise in transforming financial markets in the long run. At the beginning of this year, the former powerful supervisor of the United States for money Brian Brooks predicted (I think, correctly) that “self-driving banking” will become a reality before self-driving cars can fly.
- Credit scores are calculated in a secure area (a special, highly secure computer chip).
- Credit scores, as well as proof of computation, are uploaded to the blockchain.
- Proof of calculation verified by smart contract.
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