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Decentralized Finance Genie is out and Set to Grow Bigger in 2021

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Jan 6, 2021

From the amount of success that DeFi has gained in 2020, it is evident that the DeFi industry has just started growing. The industry is set to grow way bigger, better, reliable, and stable in the running year. It has been predicted by the crypto-gurus and expert analysts that the DeFi industry is going to gather a lot of adoption.

The DeFi industry is set to gather adoption not only from the individual sector but from the enterprise/institutional sector as well. With the passage of time, the DeFi industry has gathered a lot of stability and has become a very favorable environment for investors.

Many speakers from the crypto-financial industry have very high hopes for the DeFi industry. The analysts also state that the DeFi industry will not be facing any problems or obstacles from the regulatory authorities. The DeFi industry will expand to cover more areas and sectors with regulatory interventions.

Just recently, the Chief of Compliance ‘Bo Oney’ from Coinsource talked about the future of the cryptocurrency industry. Coinsource is popularly known among the cryptocurrency as the network for Bitcoin (BTC) ATM.

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Oney stated that the year 2021 will be the best year for the cryptocurrency industry. In this year, the platform is set to achieve no heights and hit all-time highs. Most importantly, the cryptocurrency industry will gain an enormous amount of adoption and success in the running year.

He stated that towards the end of the year 2020, the DeFi industry has gathered a lot of adoption and growth. From the data around DeFi’s growth that has been gathered from 2020, the DeFi industry has just started picking up. The genie has just gotten out of the bottle and the time for it fulfilling the wishes is here.

With the traditional financing ways becoming more expensive and bringing in fewer turnovers, people have now started looking for alternatives. This is when the DeFi industry comes in and offers profits with fewer charges and fees. In addition to the benefits, the users are not required to go through lengthy and unusual screening procedures.

This very nature of the DeFi industry is becoming relevant to the needs of people and will eventually gain a lot of mainstream success and adoption. Monica Singer, who is the lead at Consensys, which is a major blockchain-based on Ethereum also talked about the future of DeFi.

As per Singer, the DeFi industry will not only limit itself to financing and technical users, but will also target other sectors in the coming years. Singer also stated that if the legacy financing system keeps on breaking down and does not make any changes, it will keep losing users. These users will keep moving into the DeFi space.

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