More secure - Jenco Tech


 

With decentralized finance, consumers are provided with more privacy and security. DeFi does not require any validation from a central authority to transact securely. No one will have access to steal anything as long as the users control their private keys or passwords. While in the centralized financial system, the clients’ information is stored on a central server at a single physical location, targeting repeated and reinforced malicious attacks.

 

 

Comments

Post a Comment

Popular posts from this blog

Providing access to the unbanked and underbanked - Jenco Tech

The most significant impact of decentralized finance is the inclusiveness it brings to the people by providing global access to the financial services that were once only available to the wealthier population. This innovative technology powered by FinTech can be used by anyone who has an internet connection and a smartphone. For example, a stockbroker at a top financial firm in the US or a farmer in a remote region in Asia will have the same access to financial services. Barriers such as wealth to invest and proximity to functioning economies, and lack of documentation would diminish. No more intermediaries The removal of intermediaries is one of the most significant advantages of DeFi. For example, the remittance fees will become much cheaper for the global population, especially those living overseas and may need to send money regularly. International transfers, such as Paypal, Xoom, Transferwise, and WorldRemit, are some of the apps that provide remittance services th...
Read more

How decentralized finance will change the economic landscape - Jenco Tech

Image
  In the past years, the global economy has made significant steps. The increasing number of technology users and the global Gross Domestic Products is at its highest point since 2015. Amidst this economic growth the world has been experiencing, most people would expect that the traditional financial institutions will steal the spotlight. Unfortunately, due to continued operation barriers, this progress is obstructed. Because of this heightened globalization and technological advancement, society is entering a new stage of global consciousness. This consciousness includes individuals’ empowerment to ask more of the financial entities that they trust with their assets. The growing technological accessibility has opened up the obstacles preventing most of the population from participating in the global economy and capital markets. As a result, many are starting to reject the costly and time-intensive financial systems that have long impeded economic progress. Since us...
Read more

Decentralized finance in the financial system

 The most significant impact of decentralized finance is the inclusiveness it brings to the people by providing global access to the financial services that were once only available to the wealthier population. This innovative technology powered by FinTech can be used by anyone who has an internet connection and a smartphone. For example, a stockbroker at a top financial firm in the US or a farmer in a remote region in Asia will have the same access to financial services. Barriers such as wealth to invest and proximity to functioning economies, and lack of documentation would diminish.
Read more