Introduction of DeFi | Neukind Hong Kong

On march 25 Elon Musk posted “Don’t defy DeFi.”

Elon Must twitter post Mar 25

Why is defi so important?

Defi is one of the most fascinating improvement in the blockchain space that can actually disrupt the traditional financial industry. Defi is open, permissionless and most open source allowing people to audit and contribute to the next generation of finance.

DeFi stands for “decentralized finance” and refers to financial applications surrounding blockchain.

What makes DeFi possible is the smart contract mechanism on the blockchain layer. The smart contract usually stored and executed on the blockchain. By doing so the code is can be trust and it is secure.

Due to the fact that smart contract is so important to the DeFi application most DeFi is built on Ethereum and some on Tron and other protocols. Ethereum has a robust layer of code written in Solidity which allow user to write complex smart contracts that will change the world of finance.

This is an introduction of DeFi and the reason why Neukind Hong Kong is so excited about.

Building a decentralized autonomous world, and contribute to human evolution.

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