The number of DeFi apps continues to explode, partly because their programs — including Uniswap — are based on open-source code. Software developers can easily mash up code from different programs, building on it to create innovative new applications. It is this open-source movement — the unsung hero of the internet and software industry — that serves as an insurance policy for decentralisation. Even if Nakamoto’s identity is revealed, spelling doom for Bitcoin, Coinbase need not fret. Another person, or group of people, can easily take his place.
As digital artists onboard blockchain technologies in order to sell NFTs, we can expect to see a major shift in the video gaming industry as well.
Just four years ago, Jamie Dimon, the head of one of the world’s largest banks, JP Morgan, called bitcoin (BTC) a fraud. In the current year, JP Morgan’s top executives call for involvement in cryptocurrencies.
At the same time, their financial analysts project bitcoin to rise above $100,000 and supplant gold as a real asset hedging against inflation. Needless to say, the past year has been tremendous for bitcoin.
Innovative areas within cryptocurrency such as decentralized finance (DeFi) are firmly on the radar of global regulators, according to draft guidance released on Friday by the Financial Action Task Force (FATF), a global anti-money laundering (AML) body.
Over the last decade, the transaction systems have drastically improved. We have come very far from the times of cash payments. Nowadays, with the advancement in internet technology, it is natural to pay using mobile phone apps, online banking methods, cards, and many more methods that are both highly safe and convenient. Whether you are at a nook-shop paying for something small or at a premium mall paying for expensive jewelry, the e-methods of payment always come in handy. In addition to providing you with convenience, the online payment options also come with a spate of offers in the form of cash backs, loyalty points, and much more. The development of online payments is one thing – and side by side innovations in the currency systems is the other thing.