[Global Crypto Assets & Finance Conference 2021] “Mapping the Decentralized Finance Ecosystem-11 Ways DeFi Could Change the World”_ Lee Hyun woo, CEO at Xangle”
- Global Crypto Assets & Finance Conference 2021
- Host: Delio, Korea Crypto Finance Association (KCFA)
- Date: January 27th — January 29th, 14:00–16:10
- Website: https://conf.delio.io
Session 2: Successful Crypto Asset Investment Plan
▣ Mapping the Decentralized Finance Ecosystem-11 Ways DeFi Could Change the World”_ Lee Hyun Woo, co-founder and CEO”
Lee Hyun Woo, CEO of Xangle, divided the field called DeFi into 11 categories, briefly introduced each field and related projects.
Decentralized prediction market / Decentralized derivatives / Decentralized autonomous organization (DAO)
In the decentralized prediction market, betting conditions are programmed through smart contracts. Since there is no intermediary, overhead costs and fees can be greatly reduced. Decentralized derivatives are the implementation of derivatives such as options, swaps, puts, and shorts as smart contracts. Various assets such as gold, oil, stocks, bonds, indexes, IP, and game items are also subject to trade. Decentralized autonomous organizations (DAOs) can make decisions more efficiently than traditional shareholders’ meetings through a voting system through smart contracts.
Decentralized Loan / Decentralized Insurance / Decentralized Exchange
Decentralized loans are similar to P2P loans, but in P2P loans, if a centralized entity evaluates and makes loans, decentralized loans are secured with smart contracts. Decentralized insurance can cover the risk of large-scale risk by paying a small fee on a regular basis. Decentralized exchanges can create high liquidity because anyone who provides liquidity receives incentives in the form of transaction fees.
Decentralized Asset Management / Decentralized Payment / Tokenization
Decentralized asset management implements the fund as a smart contract, and because no human intervention is involved, commissions can be reduced, and it can be operated transparently. A more effective and efficient payment system can be built by using a blockchain for a decentralized payment system.
Decentralized Identification (DID) / Decentralized Stablecoin
Decentralized identification is a method of personal identification using blockchain technology. Since users themselves store personal information in the private key protection device, there is no risk of large-scale leakage of customer information due to a hacking accident. The decentralized stablecoin is implemented by an algorithm or by linking the value of the stablecoin to fiat currencies such as dollars and won or assets such as gold. There is an advantage in that you can use coins pegged to traditional financial assets on smart contracts.
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