Steem Crypto Challenge Month #2: Taking care of my account to as an optimism for welcoming DeFi
Hello friends, I hope that we will always be healthy, blessed and prosperous.
As someone who is new to crypto, I feel that this blockchain has introduced the ins and outs of crypto well. I know a little and I still have to keep learning so that one day I can get more benefits.
I am acquainted with blockchain since 2018 through Steem. I was introduced to a platform that is not only a place to vent, but also gets added value economically. We get coins - although still a little - of course I have to appreciate. This is much different from other social media platforms which only provide opportunities for narcissism. there are even some bad cases such as selling personal data to third parties, or deleting content, being banned from the platform owner. This is of course very contrary to the principle of freedom of expression.
I'm so excited to read the @steemitblog post DeFi
I am interested in writing down the thoughts that are in my heart regarding DeFi. Because it is through this blockchain that I can find out a little about crypto.
Getting to know DeFi
Through Blockchain, I started to learn about world finance that could be used as the future. Currently developing the term financial decentralization or DeFi. Through this platform I read articles written by share Steemian and opened up insights about DeFi.
From the various liations I have read, DeFi is defined as a financial mechanism that is open peer to peer and is different from conventional financial systems such as banking. DeFi stands for Decentralized Finance. This includes digital assets, protocols, smart contracts and dApps built on the blockchain
Advantages and challenges
As a financial system that knows no boundaries, time and other dimensions, DeFi could become a financial system in the future. If as a start, there is now a decentralized financial system, of course it will need further development so that it can be accepted by all groups.
From the various articles I have read, there are many advantages of DeFi, apart from of course there are still drawbacks or rather, it is said to be a challenge in the future.
Some of the advantages that we can see are as follows:
1. Global access
Different from the conventional financial system which is still limited by nationality, area and residence, DeFi is a major breakthrough so that everyone connected to the internet or Android and smsrtphone has access to DeFi.
Through Defi, all transactions are not hampered by constraints on location, citizenship status, or distance in sending money. In the end, history will record a financial revolution with the birth of De Fi.
2. Lower shipping costs
Through DeFi, the cost of shipping between countries will be cut, thereby making it more effective in the financial system.
3. Not easily censored
In DeFi all transactions are immutable or irreversible. the government cannot interfere in this system. This will allow DeFi to develop without being noticed by other parties except the perpetrators.
However, there are challenges that must be faced if you do not want to say it is an obstacle.
1. Money laundering
The nature of DeFi that conventional banks cannot interfere with, or even by the state, will make DeFi be used by people who want to run their money from one country. Criminals or non-criminals will transfer their fiat money by buying crypto and then transact it via DeFi.
2. High risk
Given that Defi is an asset in crypto form there are risks that must be considered. Often times there are changes that fluctuate so that we must be wise in choosing their use.
Take care my account
Do not forget to also tell about the account that I have to care for. Since joining the blockchain I have experienced things that may seem embarrassing. How can I never post and get no likes. it happened when i first posted. I've also experienced getting flags, downvotes of which I don't know why. However, as time went on I came to realize more and more that in this world all bitter things will only make us stronger. I believe God provides experiences that will make us steadfast and not easily complain. We must not despair. When we fall we must be willing and able to get up again. Maybe we fail a thousand times, but we also have to get up for the thousand and one times.
Until now, I am still trying to remain active, even though it sometimes feels difficult considering the difficult conditions.
I try to take good care of my account, business, hobbies and family. I believe all struggles will arrive at a certain point called success. Success in business and family life.
My big hope is that one day I can take advantage of the crypto coins I get from posting that will be able to help more people. I know that many people have done it out there and I want to follow their steps such as @xpilar, @stephenkendal, @sultan-aceh, and many more.
They no longer think about themselves but are far away from seeing other people and trying to help out with their various projects. this is really something we should be able to emulate.
Thus all my writing this time may useful for all of us.