“Financial Democratization” is the core idea of Professor Robert Hiller.
Robert is a professor at Yale University and has achieved Nobel Prize Economics in 2013.
According to him,“ Democratization of finance will dramatically extend the realm of financial technology to everyone, improving human welfare.”
What is financial democratization?
According to Professor Robert Shiller, finance is no longer considered superior, no longer a paradise where bankers dominate, no longer a stage where the banking industry is supercilious. Instead, it’s a happy plaza where every customer can achieve personal value and fulfill personal wishes.
Professor Schiller believes that this desire depends to a large extent on the popularity of technological means and the breaking of monopoly shackles. In his book Finance and a Good Society.
He wrote, “Democratic transformation of finance means creating more financial solutions developed for the people, using some technologies that serve the needs of the people, and ensuring that the people can be smarter. To participate in the financial system.”
The DeFi (decentralized Finance) application aims to solve two main problems that cannot be solved by centralized services:
Unequal financial service + Financial review
Unequal financial services:
This mainly refers to individuals’ access to financial services such as collateral, mortgages, and insurance.
Decentralized financial applications are designed to improve the problem and ensure that people have access to those who are unable or do not have access to financial services are often referred to as “people who do not have bank accounts” (“unbanked”); but with DeFi tools, all they need is a smartphone and an Internet connection.
Simple and easy!
For specific purposes, governments, financial institutions, or third-party institutions close accounts of individuals or companies and restrict their transactions.
Decentralized financial applications are open source technologies designed to de-intermediary and democratize the current financial system. By introducing decentralized networks that provide payment, collateral trading system, currency stabilization, and many other services, such as derivatives and indices, every aspect of the current financial system will change dramatically.
Dsdaq is such an innovative financial democratization solution. The easy access to the internet and smartphones has enabled the basic environment and infrastructure for product globalization. Image recognition, big data, and artificial intelligence technologies provide reliable technical support for compliance and anti-money laundering.
The introduction of blockchain technology offers a trusted, low-cost, and efficient scheme for the booking, liquidation, clearance, and settlement. This makes it possible to remove some of the physical and geographical barriers that people have encountered in investing in the financial secondary market in the past, subject to the regulatory and compliance requirements so that people around the world can participate in and benefit from the operation of global capital markets in a more equal and transparent manner.
Try out the best DeFi app-Dsdaq!