If you’ve been keeping up with what’s new and exciting online, then you’ve probably been hearing an awful lot about DeFi (decentralized finance) applications and blockchain technology.
And you probably also noticed that entrepreneurs and small business owners seem to be really excited about these new applications and technology.
Maybe you’ve largely ignored it all so far.?
That’s easy enough to do, especially since some of the terminology may be unfamiliar to you: blockchain, DeFi, crypto, distributed ledgers, etc.
It’s hard to figure out why it’s important to you if you’re not even sure about the lingo associated with it.
Heads up: if you’re an entrepreneur or small business owner, this is one thing you definitely don’t want to ignore.
This is going to change the way you do business, no matter what business you’re in. And if you’re looking for new opportunities, this emerging field is full of them.
Just what exactly am I talking about? Read on…
What is DeFi?
Before we talk about why DeFi is so exciting for business owners, let’s quickly define it. DeFi stands for decentralized finance, and we’re referring to applications that are typically built on a distributed ledger system known as the blockchain.
What kind of applications? We’re referring to crypto exchanges, payment processors, lending platforms, trading and derivatives, and much more.
To put it simply: if it’s a financial service that’s already being offered through traditional financial institutions such as banks, brokerages, payment processors and similar, then you can do the same thing with a DeFi app on the blockchain.
Which brings us to the next question…
Why Are Entrepreneurs So Excited?
So now that you’ve got a feel for what DeFi is, the next question is this: why is everyone so excited about it? Check out these benefits:
The decentralization means that there is no central authority, no third party calling the shots, no intermediaries, no middlemen for any applications built in this manner.
Let’s take banking as an example. If you want to get a loan, you need to first get an account at the bank. Then you need to start jumping through hoops with an application and credit check. And after all that, the bank can still deny you. Or if they think you’re credit-worthy yet a little risky, they’ll slap you with a high interest rate.
Now let’s take the middlemen out of this process. If you have a DeFi lending platform, then anyone, anywhere in the world can participate. They don’t need to fill out an application or go through a credit check. If they have the requirements—such as collateral – then they can get their loan right away.
That’s just one example – but every decentralized platform works the same way, in that anyone can participate because there is no central authority telling them “no.” This levels the playing field between the elite (the establishment) and the rest of us.
On a related note…
When you’ve got a centralized financial institution, that institution is the only one with a copy of their customers’ sensitive information. Their books and systems are generally kept secret from the public.
When you have a DeFi application, it’s much more transparent and safer. Instead of storing the information in one place, every computer powering the network has a copy of the data. A hacker can’t do anything with this data unless they control 51% of the computing power on the network – and that’s nearly impossible, especially when you’re talking about networks with hundreds or thousands of computers.
Fast, Low-Cost Transactions
Another advantage of DeFi apps is that transactions tend to be both faster and lower cost versus legacy banking.
For example, if you wanted to transfer money overseas between two bank accounts, you need to be prepared for a hefty fee and a transaction that takes at least one or two business days.
When you transfer money between two cryptocurrency accounts, it’s fast – taking just seconds to a few minutes – and usually the fees are much lower.
As a business owner, this is beneficial in many ways to you, including:
Just about anything you can do with traditional finance apps you can do with DeFi apps.
Which brings us to the next point..
It’s the Future of the Internet
Decentralized applications and the blockchain technology powering them aren’t just used for financial apps. Indeed, this technology and philosophy is the future of the internet. You can expect people to start building a wide variety of applications on the blockchain.
It’s already happening. For example, people are already building apps related to:
Whatever websites and services you currently use may eventually be decentralized and built on the blockchain. And that’s a big opportunity for you: what apps and services does your audience need? What sort of opportunities do you see in front of you?
Plenty of Investment Opportunities
Even if you’re not directly building apps and businesses on the blockchain, there are other ways to profit from the seismic shift that’s happening right now all across the internet.
For example: one way to do it is to stake capitol on these DeFi platforms, which gives you an opportunity to earn interest.
Another example: you can directly invest in the DeFi applications and cryptocurrency projects that look promising. While there were quite a few scams in this space back in 2016 to 2018, now that the dust has settled there are some very exciting – and potentially very profitable – opportunities awaiting you. Just do your due diligence so that you can invest wisely.
A few parting thoughts…
This is an exciting time for entrepreneurs and business owners, because DeFi applications and the blockchain are in their infancy right now. Blockchain technology has only been used since about 2009, and DeFi applications came after that.
An opportunity like this doesn’t come around very often… perhaps once in a lifetime, IF you’re lucky. And right now, you’re sitting on a potential jackpot.
This technology and all the applications being built on it are the future of the internet.
You can sit on your hands and watch it all go by as others take advantage of this opportunity. Or you can jump in right now to start profiting from it yourself.
Of course the key is that you need to know what you’re doing in order to take advantage of this opportunity.
And that’s why we created this new video course: DeFi for Entrepreneurs.
Here’s a sneak peek:
What’s happening now is going to change EVERYTHING – including your business – whether you want it to or not.
Are you ready for it? Do you know how to make the most of this opportunity?
Get ready by checking out the course right now: DeFi for Entrepreneurs.