Blockchain applications beyond cryptocurrency
By SACHISH || 11/03/2022
In recent years, blockchain platforms like Ethereum have enabled alternative use-cases of the technology — including decentralized finance (DeFi), property rights management, digital identity, and supply chain management.
On the decentralized finance front, blockchain-based finance platforms shine in areas with fragmented or underdeveloped infrastructure. Services like lending, insurance, and savings can now exist among demographics and geographies that would otherwise be unserviceable by banks. Besides lowering the barrier to entry, DeFi services require no middlemen, resulting in pretty big reductions in processing fees and timelines.
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