With the current happenings in the stock market today, It is evident how centralized finance has, in my opinion, failed to carry out the fundamentals of monetary value and investment.
Centralized Financing tends to put people and small-scale traders at the short end of the stick. In my opinion, value is supposed to be decentralized and synonymous with the holder. This is downplayed a lot.
The people should have a right to control their value and investments. This should go without the worry of interference from the government, institutions, or financial bodies, which eventually downsize settlements.
A lot of evidence to this can be seen in various market headlines over the past few days—many stock market complications here and there, which of course, are lacking in a DeFi system.
Below are some of the top leading headlines in the stock market;
If you look at the situation between GameStop and Wallstreetbets, there are adverse effects of non-crypto and centralized financing where hedge funds are going against Wallstreetbets and stirring an uprise in the price of GameStop shares. Although this is great for the GameStop company, especially during the pandemic, I say that there is no denying that the ongoing backlash is impossible with crypto and decentralized trade.
A lot of users on Robinhood have been denied privileges to trade. This is highly unaccounted for and unacceptable and will inevitably lead to losses borne by people. If this were a decentralized Crypto finance service provider, it would never happen.
Several more examples lay in history where centralized bodies have downplayed the little guy. This eventually amounts to the institution's uprise in revenue while people suffer losses and devaluation. For the year 2021, instances like these are being taken into account even more significantly than they have ever been. We can all see that this is a crucial time that we all are in, and devaluation is more critical than ever.
On the flip side, many big names globally have recognized the power of DeFi and cryptocurrencies as a whole. Many world icons now have Bitcoin on their social media profiles. Check out below;
From the likes of Elon Musk and others, crypto is the future, and decentralized financing is the first step in ensuring control over value for people. I am certain that this could revolutionize monetary transactions, investments, and the stock market as a whole.
Feel free to share your own thoughts on decentralized financing as opposed to centralised financing as well as the utilisation of cryptocurrency.
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