DeFi Use Cases - Jenco Tech

 

Foreign Exchange (Forex)

Foreign exchange, interchangeably referred to as forex or FX, is a type of trading that occurs across different markets or currencies worldwide. Trade happens between two pairs of currencies, and their exchange value depends on the present exchange rate in a chosen market.

For example, in an exchange between the USD (US Dollar) and the GBP (Great Britain Pound or British pound sterling), the current rate is 1USD for 0.76 GBP. This exchange rate may be different across markets and timeframes.

Cryptocurrency

Digital assets, usually in the form of cryptocurrencies like BitCoin and Ethereum, are used by computer networks all over the world.

These digital assets are made secure by using a method called cryptography that prevents double-spending and counterfeiting.

The blockchain, a ledger that is distributed and enforced by a separate web of computers, guarantees these cryptocurrencies’ integrity. One of the most distinctive traits of these digital assets is that they are not — and can not — be manipulated or controlled by any centralized authority.

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